Dubai-based energy services firm Kent has completed the acquisition of SNC-Lavalin’s oil and gas division.
Backed by the global energy investment firm, Blue Water Energy, Kent operates in three key areas: engineering and projects; commissioning and start-up services; and turnaround, maintenance and modifications.
Kent, then Kentech, announced the agreement to acquire the oil & gas business of SNC-Lavalin’s Resources Division on 9 February 2021. The completion was subject to regulatory approvals and satisfaction of customary closing conditions.
Kent announced the completion of the acquisition on Friday, 30 July 2021
“We’re fusing together the strength of leading players in the energy services sector: Kentech and the acquired businesses, which consist of legacy SNC-Lavalin oil and gas, Kentz, Houston Offshore Engineering and the oil & gas capabilities (including offshore wind, hydrogen, CCUS, and low carbon solutions) of the former Atkins business”, the company said.
“We’re harnessing our energy within and joining forces to create Kent, a leading international integrated energy services partner”, Kent added.
The acquisition of SNC-Lavalin’s oil and gas division is creating a company that can provide full asset life cycle services to the energy industry.
It increases Kentech’s geographical footprint and the number of employees to over 10,000. The company will have a backlog of $1.1 billion.
Kent also said back in February 2021 that the deal would help its efforts in addressing the challenges and opportunities of the global energy transition.