Wood Group acquires CEC Controls for $59M

Wood Group acquired CEC Controls, a US designer and builder of industrial and process control systems, for $44 million in cash plus up to $15 million deferred consideration, expanding its automation capabilities.

“CEC Controls significantly complements and strengthens the innovative technical solutions we provide to clients within automation and control.”drivesncontrols.com

• 2 sources
• drivesncontrols.comWood Group pushes into automation by buying CEC for $59m - Drives&ControlsMay 25, 2017
• prnewswire.comGenerational Capital Markets Announces Sale of CEC Controls to Wood GroupGenerational Capital Markets, Inc.Jun 27, 2017

Summarized from public sources; check the original articles before acting on it.