Kentz Corporation announced the proposed acquisition of the Valerus field solutions business for US$435 million in cash.
Key Highlights
In particular, the acquisition is expected to deliver the following principal benefits:
Christian Brown, Chief Executive Officer of Kentz commented: “ We have achieved exceptional organic growth since listing in 2008. We have also highlighted our desire to expand our offering through selective acquisition that creates shareholder value. The Board of Kentz believes that, consistent with our strategy, the acquisition of Valerus Field solutions will help to establish Kentz as a recognised market leader in providing highly skilled process engineering, EPCM and EPC services for small and medium sized oil and gas processing facilities worldwide. It also provides us with a significant presence in the growing US market .”
[mappress] LNG World News Staff, December 9, 2013; Image: Valerus