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Amec Foster Wheeler
Amec Foster Wheeler plc was a British multinational consultancy, engineering and project management company headquartered in London, United Kingdom. In October 2017, it was acquired by Wood Group.
It was focused on the Oil, Gas & Chemicals, Mining, Power & Process and Environment & Infrastructure markets, with offices in over 55 countries worldwide. Roughly a third of its turnover came from Europe, half from North America and 12% from the rest of the world.
Amec Foster Wheeler shares were publicly traded on the London Stock Exchange and its American Depositary Shares were traded on the New York Stock Exchange.
Amalgamated Mechanical Engineering and Construction (AMEC) was formed from the 1982 amalgamation of Leonard Fairclough & Son (founded 1883) and the William Press Group (founded 1913). During 1988, AMEC went on to acquire Matthew Hall Group.
During the mid 1990s, the Norwegian engineering company Kvaerner negotiated with AMEC's board towards a potential acquisition of the latter; after talks broke down, the firm resorted to a hostile takeover bid. Kvaerner quickly purchased a 26% stake in the firm and presented AMEC's other shareholders with a single offer of £361 million for the outstanding shares. Around the same timeframe, AMEC made its own bid to merge with rival British construction firm Alfred McAlpine; however, the latter's board voted against the move.
In 1996, AMEC took a 40% stake in Spie Batignolles from Schneider in association with a management buyout. Amec launched the AMEC SPIE brand for engineering services in Europe, a rail construction business AMEC Spie Rail was created, and the remaining construction business was retained as Spie Batignolles. The company announced that it would seek to sell the construction arm of the business Spie Batignolles, and entered negotiations to secure a management buyout of that division; the management buyout of the construction arm of Spie was completed in September 2003 with the aid of Barclays Private Equity Finance, and later that year Amec took full control of the remaining parts of Spie.
The company continued making numerous acquisitions during the new millennium. These included Ogden Environmental & Energy Services and AGRA Monenco Inc., a North American engineering and services company, both in 2000 as well as the US operations and equipment of Lauren Kamtech in 2003. Then, in 2004, AMEC, as part of a joint venture with Fluor Corporation, was awarded a multi-year contract to assist in the reconstruction of Iraqi infrastructure following the 2003 invasion of Iraq; while lucrative in the long run, the arrangement initially yielded little profit as well as being a slow revenue stream. AMEC continued to be involved in Iraq into the late 2010s.
In 2005 AMEC acquired Houston-based oil and gas engineering services company Paragon Engineering Services, Inc., and formed AMEC Paragon, Inc., to operate as part of AMEC's global oil and gas business. Also during 2005, AMEC acquired UK-based NNC, a large nuclear consulting company and its subsidiaries, including Ontario-based Nuclear Safety Solutions ('NSS'), the nuclear safety division of OPG, which was spun off when OPG was privatised. The European engineering business, AMEC SPIE, was sold to PAI Partners for €1,040 million in 2006 and the European rail business joint venture Amec Spie Rail systems was sold for an estimated £200million in 2007, to Colas Group.
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Amec Foster Wheeler
Amec Foster Wheeler plc was a British multinational consultancy, engineering and project management company headquartered in London, United Kingdom. In October 2017, it was acquired by Wood Group.
It was focused on the Oil, Gas & Chemicals, Mining, Power & Process and Environment & Infrastructure markets, with offices in over 55 countries worldwide. Roughly a third of its turnover came from Europe, half from North America and 12% from the rest of the world.
Amec Foster Wheeler shares were publicly traded on the London Stock Exchange and its American Depositary Shares were traded on the New York Stock Exchange.
Amalgamated Mechanical Engineering and Construction (AMEC) was formed from the 1982 amalgamation of Leonard Fairclough & Son (founded 1883) and the William Press Group (founded 1913). During 1988, AMEC went on to acquire Matthew Hall Group.
During the mid 1990s, the Norwegian engineering company Kvaerner negotiated with AMEC's board towards a potential acquisition of the latter; after talks broke down, the firm resorted to a hostile takeover bid. Kvaerner quickly purchased a 26% stake in the firm and presented AMEC's other shareholders with a single offer of £361 million for the outstanding shares. Around the same timeframe, AMEC made its own bid to merge with rival British construction firm Alfred McAlpine; however, the latter's board voted against the move.
In 1996, AMEC took a 40% stake in Spie Batignolles from Schneider in association with a management buyout. Amec launched the AMEC SPIE brand for engineering services in Europe, a rail construction business AMEC Spie Rail was created, and the remaining construction business was retained as Spie Batignolles. The company announced that it would seek to sell the construction arm of the business Spie Batignolles, and entered negotiations to secure a management buyout of that division; the management buyout of the construction arm of Spie was completed in September 2003 with the aid of Barclays Private Equity Finance, and later that year Amec took full control of the remaining parts of Spie.
The company continued making numerous acquisitions during the new millennium. These included Ogden Environmental & Energy Services and AGRA Monenco Inc., a North American engineering and services company, both in 2000 as well as the US operations and equipment of Lauren Kamtech in 2003. Then, in 2004, AMEC, as part of a joint venture with Fluor Corporation, was awarded a multi-year contract to assist in the reconstruction of Iraqi infrastructure following the 2003 invasion of Iraq; while lucrative in the long run, the arrangement initially yielded little profit as well as being a slow revenue stream. AMEC continued to be involved in Iraq into the late 2010s.
In 2005 AMEC acquired Houston-based oil and gas engineering services company Paragon Engineering Services, Inc., and formed AMEC Paragon, Inc., to operate as part of AMEC's global oil and gas business. Also during 2005, AMEC acquired UK-based NNC, a large nuclear consulting company and its subsidiaries, including Ontario-based Nuclear Safety Solutions ('NSS'), the nuclear safety division of OPG, which was spun off when OPG was privatised. The European engineering business, AMEC SPIE, was sold to PAI Partners for €1,040 million in 2006 and the European rail business joint venture Amec Spie Rail systems was sold for an estimated £200million in 2007, to Colas Group.