Willbros Group, Inc. (WG)

[Timothy Smith]

Willbros (NYSE:WG) +12.7% premarket after agreeing to sell its professional services business segment to TRC Companies (NYSE:TRR) for $130M.

The unit provides engineering, EPC/EPCM, field solutions and integrity services to the oil and gas transmission and midstream market, with $209M in 2014 gross revenues; TRC expects the acquisition to be accretive during FY 2017.

WG says the sale will improve its balance sheet and that the sale will reduce its term debt loan to less than $100M from $270M at the end of 2014.