SNC-Lavalin Group reached an agreement with Kentz Corporation (Kentz) on the terms of a cash acquisition to acquire the entire ordinary share capital of Kentz – issued and to be issued. Kentz is a global oil & gas services company providing engineering, construction and technical support services to clients in the oil & gas sector.
The proposed acquisition of Kentz is fully aligned with SNC-Lavalin’s strategy of becoming a global Tier-1 engineering and construction (E&C) services firm. The addition of Kentz’s capabilities will make SNC-Lavalin a leading global E&C player in the oil & gas sector, with a greater presence in key growth regions, including the Middle East, North America and Asia Pacific, with a significant presence in Australia. The acquisition also meets the strategic priority of balancing the company’s risk profile by significantly raising the percentage of revenues it derives from services. This has been supported by discussions between both parties and a robust due diligence process.
“We are excited by the prospect of merging the excellent capabilities of our two oil & gas teams under the leadership of Christian Brown, Kentz’s CEO, which will create a world-class team inside of SNC-Lavalin to better serve our combined clients worldwide”, said Robert G. Card, president and CEO, SNC-Lavalin Group.