On August 22, SNC-Lavalin Group of Montreal said it had completed its acquisition of Kentz Corporation. Kentz is a global company with 15,500 employees operating in 36 countries and providing services in the oil and gas sector. For the initial announcement, click here.
Kentz will be incorporated into SNC-Lavalin while simultaneously integrating SNC-Lavalin’s current Oil & Gas business into Kentz’s operations. Christian Brown, Kentz’s chief executive officer, now becomes president, Oil & Gas of SNC-Lavalin Group. He will continue to be stationed in Houston, Texas and will report directly to Neil Bruce.
SNC-Lavalin paid £9.35 (C$17.13) per share for a total purchase price of approximately £1.2 billion (C$2.1 billion). Kentz shareholders voted in favour of SNC-Lavalin’s offer at a meeting on August 11, 2014.
To read the SNC-Lavalin press release, click here.
To read about the history of Kentz, click here.