The Aberdeen-based Wood Group has acquired CEC Controls – a management-owned designer and builder of industrial and process control systems primarily in the US automotive manufacturing industry – for just under $60 million.
CEC Controls’ clients include Ford, GM and Fiat-Chrysler and the business will continue to be led by its existing management team. CEC Controls currently has gross assets of $34 million reported pre-tax profits last year of $9.6 million.
Established in 1966, CEC Controls is headquartered near Detroit. The company employs more than 220 people across its 12 North American offices and in Romania.
Robin Watson, Chief Executive, Wood Group, said: “Bringing 50 years of expertise in delivering services to the automotive sector, CEC Controls significantly complements and strengthens the innovative technical solutions we provide to clients within automation and control.
“The acquisition supports the geographical broadening of our footprint within the automotive sector particularly in the US; deepening our presence in the key automotive hub of Detroit.
“It also provides us the opportunity to further enhance the industrial process & control capabilities we offer to this industry and adjacent sectors including aerospace, logistics, water, and pharmaceuticals.”
Two years ago, Wood Group acquired the Automated Technology Group, one of the UK’s largest independent suppliers of control and power solutions for industrial automation.