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Scottish engineering consultancy John Wood Group PLC said Friday it has agreed to sell its North American transmission and distribution business to rival Qualus LLC for $110 million, the latest move in its sweeping disposal program.

The deal comes after what Wood described as a “highly competitive auction process,” and is part of a broader strategy to offload non-core assets while the company undergoes a takeover by engineering group Sidara. With this latest sale, Wood’s total disposals in 2025 have climbed to approximately $275 million.

Chief Executive Ken Gilmartin said the divestment strengthens the company’s balance sheet:

“We are now on track to exceed our previously announced target for disposal proceeds as we continue to simplify our portfolio.”

What Qualus Gains

North American T&D delivers engineering services for critical power infrastructure — including substations, transmission networks, distribution grids, and renewable energy projects across the U.S. and Canada. Its buyer, Qualus, specializes in software and engineering solutions for high-stakes power systems, making the acquisition a natural fit.

A Year of Strategic Sales

Wood, listed on the London Stock Exchange, had previously set a target to raise between $150 million and $200 million from asset sales in order to cut losses.

In April, it sold Kelchner Inc., its U.S. civil construction arm, to private equity firm Strength Capital Partners for roughly $30 million. Three months later, it offloaded its stake in RWG (Repair & Overhauls) Ltd., a gas turbine joint venture, for $135 million.

The company also agreed in August 2024 to sell two more non-core businesses for £165 million ($222 million). Earlier this year, it completed the sale of its 51% stake in Ethos Energy Group Ltd., while details of its sale of CEC Controls Co. Inc. remain pending.

Sidara Takeover in Motion

The sale comes as Wood prepares for a reduced takeover bid worth about £207.5 million from Dar Al-Handasah Consultants (Shair and Partners) Holdings Ltd., better known as Sidara. The Beirut-founded engineering giant operates widely in the Middle East and has targeted Wood for expansion despite scaling back from an earlier £1.6 billion offer in 2024.

Wood still operates oil and gas rigs in the North Sea and other regions, even as it trims away secondary businesses.

The company’s turbulent run included a £1.7 billion acquisition attempt by Apollo Global Management in 2023, which collapsed after a series of rejected proposals.