SNC-Lavalin completes $2.1B acquisition of Kentz
August 26, 2014 by STAFF REPORT
SNC-Lavalin Group Inc. has finalized the purchase of Kentz Corp. Ltd. for $2.1-billion.
Kentz is a global company with 15,500 employees operating in 36 countries. It provides engineering, construction management and technical support services to clients in the oil and gas sector.
The purchase supports SNC-Lavalin’s ongoing transformation into a global Tier-1 engineering and construction company. The transaction creates a group with roughly 45,000 employees, annual revenues of about $10 billion and a backlog of about $13 billion. The combined company will have a strong position in growth markets, including the Middle East, North America, Latin America and Asia-Pacific.
SNC-Lavalin will incorporate Kentz into the company while simultaneously integrating its current oil and gas business into Kentz’s operations. Christian Brown, Kentz’s CEO, will become president of oil and gas, SNC-Lavalin Group Inc. and continue to work out of Houston, Texas. He will report directly to Neil Bruce, president of resources, environment and water, SNC-Lavalin Group Inc.
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