Wood has entered into an agreement to sell its North American Transmission & Distribution engineering business (North America T&D) to Qualus.
North America T&D is a provider of comprehensive power infrastructure engineering for substations, transmission, distribution and renewable generation across Canada and the U.S.
Qualus is a pure-play power solutions firm and leader in power infrastructure transformation, with differentiated capabilities across grid modernization, resiliency, security and sustainability.
“We are pleased to announce continued progress of our non-core business disposal program with the sale of North America T&D to Qualus, following a highly competitive sale process,” said Ken Gilmartin, CEO of Wood. “This sale, along with the sale of Kelchner and the agreement to divest our interest in RWG, has led to approximately $275 million of disposal proceeds agreed so far this year. We are now on track to exceed our previously announced target for disposal proceeds as we continue to simplify our portfolio.”
As previously announced, Wood has continued to evaluate its portfolio of businesses to identify those which are non-core to the company’s strategy and growth priorities. North America T&D was identified as part of this process.
Furthermore, in February 2025, Wood announced that it would target $150 million to $200 million of disposal proceeds in 2025 to help mitigate the impact of negative free cash flow in the year.
The deal follows two other disposals announced in 2025, bringing the total expected disposal proceeds agreed so far in 2025 to approximately $275 million1.
Notes:
Includes $135 million cash consideration from the sale of Wood’s interest in RWG (subject to completion adjustments, expected to complete in late-2025 or early-2026) and $30 million from the completed sale of Kelchner Inc.
