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International energy services company Wood Group said it would be purchasing Wyoming-based Elkhorn Holdings Inc. The acquisition would reportedly enable Wood Group to enhance its exposure in the US shale market. Financial details for the transaction were not disclosed, but the deal was expected to be completed late this year. It would also need to be approved by antitrust authorities in the US.

As part of the deal, Elkhorn would be operating within one of the three businesses of Wood Group, Wood Group PSN. Elkhorn's management team led by Chief Executive Officer Sean Sullivan would still be heading the company.

Wood Group PSN Chief Executive Officer Robin Watson said about the transaction, "The acquisition of Elkhorn is an important part of our US shale strategy and will expand our service portfolio for our US onshore customers. Elkhorn's services and geographic presence are complementary to Wood Group PSN's existing shale business. Following the acquisition of Elkhorn, Wood Group PSN will have around 4,500 US shale-focused personnel."

Watson added that Wood Group was impressed by the management team of Elkhorn which shared the same values as that held by his company.

Elkhorn is a provider of infrastructure-related services to oil and gas as well as petrochemical firms. Its services include facility and pipeline maintenance, fabrication, instrumentation, electrical, civil and mechanical construction. Last year, the company posted sales of about USD 250 million. Based in Evanston, Wyoming, the company has a 2,200-strong workforce and has operations in eleven locations in the shale regions of Niobrara, Permian, Utica and Marcellus.

Elkhorn Chief Executive Officer Sean Sullivan said they look forward to being a part of the Wood Group. He added, "This combination will greatly benefit Elkhorn's customers and employees given our collective breadth of service offerings. Elkhorn has achieved good growth over recent years, and we anticipate that in strong markets and with Wood Group's support we will see this continue."