Kentz to be acquired by SNC-Lavelin

SNC-Lavelin of Canada has made an agreed cash offer to buy all the shares of Kentz Corporation, for a total investment of GBP1164 million, or $2Bn. SNC-Lavelin is Canada’s biggest engineering and construction company. SNC believes Kentz will provide a major step for SNC into high growth, high margin operations in the oil and gas industry – in geographic areas such as the Middle East, North America and Asia Pacific.

Kentz went public on the London stock market in 2008, and last year fought off take-over bids from both M+W of Germany and AMEC of the UK (See INSIDER September 2013 page 7). Kentz was formed in 1919 in Tipperary, Ireland. Earlier this year it acquired Valerus Field Solutions – the US based integrated oil and gas surface facility solutions provider.

With Kentz, SNC will add 14500 employees in the oil and gas sector, making their total manpower working in this sector 18500 employees, or 42% of their total payroll.

  • On a similar topic, Wood Group, the Aberdeen based service provider to the oil and gas and power generation markets, is advertising on their website front page for a Mergers and Acquisitions Manager!

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