Dubai-based Kentech snaps up SNC-Lavalin's oil & gas business
Dubai-based engineering group Kentech announced on July 30 it had completed the acquisition of the oil and gas business of Canada's SNC-Lavalin, while also rebranding itself as Kent.
Kent, backed by private equity group Blue Water Energy, revealed it planned to buy SNC-Lavalin's oil and gas division in February. The division comprises not only conventional oil and gas capabilities but also offshore wind, hydrogen, carbon capture utilisation and storage and other low-carbon solutions, Kent said.
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"We're harnessing our energy within and joining forces to create Kent, a leading international integrated energy services provider," Kent said.
With the transaction complete, Kent's number of employees has increased to more than 10,000 and it now boasts an order backlog of $1.1bn.