Kentech completes acquisition of SNC-Lavalin's oil and gas division

As part of the acquisition, Kent has gained a strong foothold in the energy transition space via its acquisition of the oil & gas capabilities (including offshore wind, hydrogen, CCUS, and low carbon solutions) of the former Atkins business.

The company’s blue-chip client base comprises IOCs, NOCs and independent energy and chemical companies operating across the Americas, Europe and the Caspian, the Middle East and Africa and Asia-Pacific. It currently has over 80 active projects across 24 countries.

The company has also issued US$65 million in an over-subscribed bond. The proceeds will be used to fund the acquisition of the SNC oil & gas business and provide headroom for working capital. As part of the acquisition, Bluewater, its majority shareholder, has committed to a further capital injection.

John Gilley, previously CEO of Kentech, has become Kent’s CEO.

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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/30072021/kentech-completes-acquisition-of-snc-lavalins-oil-and-gas-division/