Willbros sells Professional Services segment

Willbros Group Inc. (NYSE: WG) has executed a purchase agreement for the sale of its Professional Services segment to TRC Companies Inc. (NYSE:TRR) for $130 million cash. The sale is expected to close before the end of November.

Under the terms of its amended credit facilities, Willbros will retain $43 million of the net proceeds to maintain its current liquidity and working capital. The balance of the proceeds, net of closing and transaction expenses, will be applied to reduction of the company's term loan debt.

Greenhill & Co. LLC acted as financial advisor to Willbros, and Conner & Winters LLP acted as legal advisor.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...