As announced on November 12, 2021, John Wood Group PLC (LSE:WG.) initiated a strategic review of the part of its Consulting business facing the built environment end market, which accounts for around 70% of Consulting revenue. This Built Environment business generated revenue of around $1.3 billion and adjusted EBITDA of around  $150 million in 2021. The strategic review has considered a range of options to best deliver value for shareholders and to strengthen the Group.

The Board has concluded that a full sale process for the Built Environment business is the best option and this process is underway. A sales agreement is expected to be announced in second quarter. The strategic review is also assessing how the company can best take advantage of the positive trends and investment opportunities in energy transition and industrial decarbonisation where it is already a global leader.

The remainder of its consulting business covers a range of solutions centred on energy transition, such as hydrogen, carbon capture technologies and digital integration solutions.