Murray & Roberts (M&R) subsidiary Clough will acquire Houston-based engineering, procurement and construction (EPC) contractor Saulsbury’s Gulf Coast downstream and chemical business unit, as well as its EPC portfolio, for $5.2-million.
In the statement issued on Tuesday, M&R CE Henry Laas commented that the acquisition of a US-based EPC contractor in the oil and gas sector would enable its oil and gas platform to deliver projects to a rapidly growing market.
“This is a small but strong project controls organisation, staffed with competent people with a full EPC capability for projects up to $300-million. Clough will market its new EPC capability to its major global clients operating in America, such as Exxon, Chevron, ConocoPhillips and Shell.”
Clough has been supporting US and Canadian clients through its CH-IV International and Clough Enercore companies since 2014.
The acquisition of Saulsbury’s Gulf Coast EPC assets aligns with Clough’s strategy to grow its capability and service offering to address the North American downstream, petrochemical/chemical, midstream and liquid natural gas markets.
“As we continue to grow our engineering and construction services internationally, we expect this acquisition to be a key part of Clough’s North American growth ambitions. The North American market has demonstrated continued growth in a stable environment with vast opportunities in oil and gas,” added Clough CEO and MD Peter Bennett.