SNC-Lavalin Group completed its acquisition of Kentz Corporation, a global company with 15,500 employees operating in 36 countries. Kentz provides industry-leading engineering, construction management and technical support services to clients in the oil and gas sector.
The acquisition of Kentz supports SNC-Lavalin’s ongoing transformation into a global Tier-1 engineering and construction (E&C) company. The transaction creates a group with approximately 45,000 employees, annual revenues of about GBP 5.55B and a backlog of roughly USD 7.22B as per 2013 figures. The combined company will also have a strong position in the world’s most dynamic growth markets, including the Middle East, North America, Latin America and Asia-Pacific.
The acquisition of Kentz transforms SNC-Lavalin’s oil and gas capabilities, creating a group of approximately 20,000 high-calibre employees with industry leading expertise for large and complex projects in the upstream, liquefied natural gas (LNG), unconventional (shale gas and oil sands), pipelines, offshore jackets and steam-assisted gravity drainage (SAGD) sectors.
SNC-Lavalin paid GBP 9.35 per share for a total purchase price of approximately GBP 1.2B.