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Deloitte Corporate Finance LLC Advises Elkhorn Holdings, Inc. in Sale to Wood Group

Deloitte Corporate Finance LLC ("DCF") acted as exclusive financial advisor to Wyoming-based Elkhorn Holdings, Inc. ("Elkhorn"), a leading employee-owned, turnkey provider of infrastructure construction and maintenance services to high-growth U.S. energy sectors, in its sale to Wood Group (LSE: WG), an international energy services company. The acquisition closed on December 9, 2013, following receipt of anti-trust approval from the U.S. Federal Trade Commission.

DCF advised Elkhorn on the exploration of various strategic alternatives, including the consideration of a strategic sale and financial sponsor investment participation through a majority recapitalization and an S-Corp ESOP co-investment opportunity.

"We could not be more pleased with DCF’s efforts in helping us achieve a positive outcome for our employee-stakeholders in this transaction," said Sean Sullivan, chairman and CEO of Elkhorn.

"It has been a pleasure to work with Sean and his management team on this transaction with Wood Group. We are excited for the combination of these two like-minded cultures and their collective future," said Eric Andreozzi, managing director and head of Energy Services for DCF.

Lou Paone, managing director and head of ESOP Corporate Finance for DCF, added, "It is fitting that Elkhorn’s employee-stakeholders, through their ESOP, were able to benefit from the value created by this transaction."

About Elkhorn
Elkhorn is an employee-owned leading turnkey provider of infrastructure construction and maintenance services to high growth U.S. energy sectors, including natural gas, oil, petrochemical, mining, and power. Elkhorn's comprehensive capabilities range from fast-track construction to turnkey maintenance, as well as managing multiple phases of projects, such as additions, relocations, retrofits, turnarounds, and custom fabrication. Elkhorn's track record and capabilities have resulted in long-standing relationships, highly recurring revenues, and strong margins generated from a premier list of customers, including 8 of the top 10 U.S. natural gas producers and other key independents. For more information, visit www.elkhornconstruction.com.

About Wood Group
Wood Group is an international energy services company with approximately $7.0 billion in annual sales, employing an estimated 43,000 people worldwide, and operating in 50 countries. Wood Group has three businesses -- Wood Group Engineering, Wood Group PSN, and Wood Group GTS -- providing a range of engineering, production support, maintenance management, and industrial gas turbine overhaul and repair services to the oil and gas and power generation industries worldwide. For more information, visit www.woodgroup.com.

About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC, a FINRA-registered broker-dealer and wholly-owned subsidiary of Deloitte Financial Advisory Services LLP, provides deal execution and lead financial advisory services to large corporate, middle market, and private equity firms. Deloitte Corporate Finance has access to the resources of the Corporate Finance Advisory practices of the member firms within the Deloitte Touche Tohmatsu Limited network of member firms, and their affiliates. Together with Deloitte Corporate Finance, these practices include in excess of 1,600 professionals, working collaboratively across 150 international locations. For more information, visit www.investmentbanking.deloitte.com.

Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.

Deloitte Corporate Finance LLC ("DCF"), member FINRA, is a wholly owned subsidiary of Deloitte Financial Advisory Services LLP ("Deloitte FAS"). Deloitte FAS is a subsidiary of Deloitte LLP. Investment banking products and services within the United States are offered exclusively through DCF.

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