Jacobs Acquires John Wood Group’s Nuclear Business for $300 Million
DALLAS — Jacobs has entered into an agreement to acquire John Wood Group's Nuclear business for an enterprise value of approximately $300 million on a debt-free, cash-free basis. The transaction represents an enterprise value-to-expected pro forma calendar year (CY) 2019 adjusted EBITDA multiple of 7.9x, assuming $12 million of full run-rate cost synergies from the combined organizations. Jacobs expects to close the acquisition by its fiscal 2020 second quarter.
“This acquisition further strengthens Jacobs' position in highly profitable and complementary sectors within nuclear and defense, enhancing our recognized program management skills with deep, technical expertise,” said Steve Demetriou, chair and CEO, Jacobs. “We are excited to welcome these talented employees to the Jacobs' team. Given the compelling and synergistic fit of our two organizations, we believe this transaction will translate into significant value for Jacobs' shareholders; diverse opportunities for our employees; and new, differentiated nuclear and defense solutions for our clients.”