TSX-listed SNC-Lavalin has completed its C$2.1-billion buy out of global oil and gas services company Kentz Corporation, with the latter’s integration into the engineering and construction firm under way.
SNC-Lavalin aimed to transform its oil and gas division into a 20 000-employee-strong group capable of undertaking large and complex projects in the upstream, liquefied natural gas, unconventional, pipelines, offshore jackets and steam-assisted gravity drainage sectors, after the absorption of Kentz’s 14 500-employee operation.
“We have now begun implementing our plan, which aims to ensure our teams are combined efficiently, respectfully and as rapidly as possible,” said SNC-Lavalin president of resources, environment and water Neil Bruce.
The enlarged group, under the leadership of Kentz CEO Christian Brown as SNC-Lavalin president of oil and gas, would boast a greater presence in key growth regions, including the Middle East, North America, Asia Pacific and Australia.