Project delivery and consulting firm WorleyParsons has acquired management consulting firm MTG, an addition that will significantly boost the expertise of its newly set up consulting branch. Financial details of the deal, that is expected to be completed by the end of this month, have not been disclosed.
MTG is a US-based consulting firm in the oil and gas, petrochemicals and chemicals industries that provides management consultancy services. The firm is specialised in improving operational performance, and has since its foundation in 1983 delivered over 500 projects from its offices in North America, the UK and Australia.
WorleyParsons is an Australian provider of project delivery, and expertise in engineering, procurement and construction to clients in the resources and energy sectors, and complex process industries. The firm was founded in 1971 and branded to its current form in 2004, when engineering consultancy Worley acquired Parsons E&C, a provider of engineering, procurement, project management and construction management services. WorleyParsons has offices all around the world, and is headquartered in Sydney, Australia.
Over the past years, WorleyParsons has been on an acquisition spree, buying several companies across the globe to expand its footprint. Recent examples include the purchase of UK based Day & Zimmermann, Brazilian based CNEC, Evans & Peck – operating in Australia and China, Kwezi V3 Engineers and TWP from South Africa, and most recently, Norwegian listed Bergen Group Rosenberg.
In line with its global strategy to accelerate its growth, WorleyParsons has recently agreed to buy MTG. The acquisition will, according to the firm, boost its recently formed advisory segment 'Advisian', as MTG will bring over 30 years of experience in providing strategic management. “We are very pleased to announce the acquisition of MTG. This acquisition provides us with another very important building block in the growth of Advisian as we build a global advisory business that will make a material impact to our customers’ operational and financial performance,” comments Andrew Wood, CEO of WorleyParsons.