Kentech Group will acquire SNC-Lavalins oil and natural gas services business, the sale of which is expected to close in Q2 2021
According to a company statement, the acquisition will enable Kentech to provide a stronger offering across the full asset life cycle – from consulting to design and build, commissioning and start-up, through to maintenance, modification and turnaround, as well as decommissioning services. It will also strengthen the company's global footprint.
“This further strengthens our pool of specialist talent, geographical reach, and the robust balance sheet to compete for premium contracts covering complex and technical projects,” the statement says. The company says it has a backlog of US$1.1bn of work on hand and a sales pipeline of more than US$7bn.
John Gilley, chief executive officer of Kentech Group, said, “By investing now, we are strategically positioning Kentech as a leading energy services firm to take advantage of the next cycle of growth in the sector.”
“Also, we are actively addressing the challenges of the global energy transition, and this acquisition has given us an entry point to realise our long-held ambitions to become a significant player in this space. It is an area of business that our clients will be investing heavily in.
“With a presence in key countries in the Americas, Europe and the Caspian, the Middle East & Africa and the Asia-Pacific region, this transaction enables the company to deliver its best in class services to clients across all global energy markets.”
Kentech was founded in 1919 in Ireland.
