Kentech Group announced that it has signed an agreement to acquire the oil and gas business of SNC- Lavalin’s Resources Division, a press release stated.
The business acquisition includes people and assets brought together through SNC’s acquisition of Kentz and other energy services businesses. It is expected to be completed in the H1 subject to regulatory approvals and satisfaction of customary closing conditions.
By acquiring SNC-Lavalin’s oil and gas business, Kentech will provide the full suite of services through the lifecycle of an asset — from design and build, commissioning and startup, through to modification, maintenance and turnaround, as well as decommissioning services
According to the statement, this acquisition will boost Kentech position as a leading integrated energy service provider noting that the company will take advantage of the next cycle of growth in the sector
John Gilley, Kentech CEO said that “We are accelerating our growth strategy by several years by acquiring additional expertise, a wider global reach, and improving our technical differentiation but importantly, never compromising on our operational and geographical agility which is paramount for our joint key clients.”
“Also, we are actively addressing the challenges of the global energy transition and this acquisition has given us an entry point to realise our long-held ambitions to become a significant player in this space. It is an area of business that our clients will be investing heavily in,” Gilley said.