ABERDEEN, July 25, 2025 – Wood wholly-owned subsidiary JWG Investments has agreed to sell its 50% interest in RWG to joint venture partner Siemens Energy Global for USD 135 million, Wood announced on Friday.

RWG is a provider of repair and overhaul services for industrial aero-derivative gas turbines used in the oil and gas, power generation and marine propulsion sectors. Wood said the sale aligns with its strategy to divest non-core assets and reduce net debt, under which it is targeting disposals of up to USD 200 million in 2025.

In April 2025, Wood sold US civil construction services business Kelchner to Strength Capital Partners for approximately USD 30 million. In 2024, the company disposed of its 51% stake in EthosEnergy to One Equity Partners for USD 138 million and divested CEC Controls to SCIO Automation.

The RWG transaction is expected to close in late 2025 or early 2026, pending regulatory approvals.

“The sale of RWG to our joint venture partner, Siemens Energy Global, is a significant milestone. Our disposal programme of non-core businesses is part of our strategy to simplify Wood and help mitigate the impact of negative free cash flow in the year,” said Wood CEO Ken Gilmartin.

In 2023, RWG contributed USD 32.9 million in adjusted EBITDA to Wood’s results. Wood expects no material impact on its continuing operations as RWG was managed separately.

Photo courtesy of RWG

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