Our acquisition

Joining Forces

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Joining Forces

Separately we were strong. Together, we are unstoppable

Energy. It’s brought us all to where we are today. And it’s the unity of Kentech and SNC-Lavalin Oil & Gas Division that brought us to Kent; an all-new Integrated Energy Services Company. Fusing together our heritage and future, our people and natural resources, our trades and high-end engineering, our problem solving and grit. To create a new energy in our industry, with new levels of capability and ambition. We now have a global footprint, with 10,000 employees across 84 nationalities. It is a landmark deal which positions us as a leading integrated energy services company and reinforces our ambition to be better, stronger and faster than our would-be competitors.

“What excites me the most about this acquisition is the prospect of combining, and in some cases reuniting, the professional men and women of our two companies and working with them to reset and transform our way into a very bright future”
John Gilley, CEO
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Joining Forces

Stronger together

Our newly-formed company will immediately benefit from a strong and diversified combined roster of blue-chip clients in the energy space. We’ve also got an enviable track record on some of the world’s most complex and ambitious projects. Now, Kent will compete for prime new projects in the global arena, confident in its financial strength and full range of specialist expertise.

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Joining Forces

Shared history and a common goal

The acquisition is also much more than meets the eye. It reunites Kentech and Kentz, two leading global businesses with a very personal and shared 100-year heritage. It brings the professionals from SNC-Lavalin Oil & Gas (including offshore wind, hydrogen, CCUS and low carbon solutions expertise from the former Atkins business) and Houston Offshore Engineering. All of these companies have grown through ambition rooted in people and doing the right thing. We’ll surpass that success together under one new Kent.

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Joining Forces

Distinctive strengths, shared ambitions

Our talented, adventurous and skilled team, our vast market reach, and robust balance sheet now allows us to compete for premium, complex and technical contracts across all global energy markets. SNC-Lavalin’s Oil & Gas Division includes people and assets brought together through their previous acquisitions of Kentz and a portion of the Atkins business. This will compliment Kentech’s global reach and services to create a stronger offering across the full asset life cycle – from consulting to design and build, commissioning and start-up, through to maintenance, modification and turnaround, as well as decommissioning services.

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Joining Forces

A truly global footprint

Combined, Kent now offers a truly global footprint, reaching across key countries in the Americas, Europe and the Caspian, the Middle East & Africa, Russia and the Asia-Pacific region. This further strengthens our pool of specialist talent, geographical reach, and the robust balance sheet to compete for premium contracts covering complex and technical projects. By investing now, we are strategically positioning the company to take advantage of the next cycle of growth.

Energy transtion
Joining Forces

Leading a global energy transition

We are also actively addressing the challenges of the global energy transition. This acquisition will allow us to realise our long-held ambitions to become a significant player in this space. We will be at the forefront of helping our clients move towards a cleaner and greener future. Our engineers and consultants think and act nimbly to translate our clients’ clean energy vision and realise their goals.

Our Media Release

Kent completes acquisition of SNC-Lavalin oil & gas division, closes new fundraising to support growth cycle

Key elements of release

30 July 2021: Kent (or the “Company”), a leading international integrated energy services partner formerly known as Kentech, provides the following updates:

  • Completes the acquisition of the majority of SNC-Lavalin’s oil and gas division, with a minority portion to follow at a later date. The Company now harnesses the strength of leading players in the energy services sector: Kentech; and the acquired businesses, which consist of legacy SNC-Lavalin oil and gas, the Kentz business, and the oil & gas capabilities (including offshore wind, hydrogen, CCUS, and low carbon solutions) of the former Atkins business.
  • Change of name to Kent as part of a major rebrand.
  • Issued $65 million in an over-subscribed bond, alongside additional financial support from its majority shareholder, Bluewater, to accelerate growth strategy, fund working capital and to fund the acquisition.
  • The combined business has secured in excess of $500 million in new contractual awards across all our regions and service offerings year-to-date.

John Gilley, previously chief executive officer of Kentech, has been confirmed Kent’s CEO and the Company’s senior leadership is composed from a blend of executives from both organisations.

John Gilley, Chief Executive Officer, Kent, said:

“Following the acquisition of the SNC-Lavalin Oil and Gas division, we have become a leading player with international reach and full-service capability for energy, chemicals, renewables and low carbon industries. We are now fully equipped to meet the most challenging of technical projects and are ready to support clients in their energy transition ambitions as the world moves towards a low-carbon economy.

“The investments we have already made and the new ones we are making give us an enormous advantage, allowing us to undertake complex technical projects to support the needs of our clients across the full energy spectrum. The expansion of our geographical reach into the Americas, Europe, the Caspian, the Middle East and Africa, give us truly global reach, allowing us to follow our clients wherever they may go and cater to their evolving needs.

Furthermore, the combination has made Kent home to 10,000 professionals, among the energy industrys brightest and most innovative minds, who are working around the clock to find solutions to our clients most challenging requirements.”

Kent completes acquisition

Kent completes the acquisition of the majority of SNC-Lavalin’s oil and gas division, with a minority portion to follow receipt of final regulatory approvals at a later date. Kent is now a leading international integrated energy services partner. The combination gives the Company an expanded specialist talent pool, geographical reach and a robust balance sheet to compete for complex and technical projects. It makes Kent fully active in helping traditional upstream, midstream and downstream industries, and enables it to design, build and maintain across four main services: engineering and consulting; projects; completions, commissioning and start-up; and operations and maintenance.

The Company’s blue-chip client base comprises IOCs, NOCs and independent energy and chemical companies operating across the Americas, Europe and the Caspian, the Middle East & Africa and Asia-Pacific. It currently has over 80 active projects across 24 countries. It is one of the few companies with sufficient scale, depth of services offering and global reach to take on relevant projects.

John Gilley, previously chief executive officer of Kentech, has become Kent’s CEO and the Company’s senior leadership is composed from a blend of executives from both organisations. Mr Gilley has been with Kentech since 2001 and its CEO since April 2020. He has been tasked with growing Kent’s specialist offerings and leading the company’s diverse talent base of employees, spread across 84 nationalities around the world.

Energy transition mix

As part of the acquisition Kent has gained a strong foothold in the energy transition space via its acquisition of the oil & gas capabilities (including offshore wind, hydrogen, CCUS, and low carbon solutions) of the former Atkins business. Kent aims to expand the energy transition mix within the overall business alongside its clients’ transition.

John Kent, Chief Energy Transition Officer, Kent, commented:

“We have gathered some of the brightest minds in the energy transition business to help accelerate the world to a cleaner future. Harnessing the talent of our team we are partnering with our clients to deliver their ambitious plans over the coming decade to deliver the transition in a sustainable way.”

Fundraising and project wins

Fundraising and project wins

Kent successfully completed a senior secured private bond placement totalling $65 million. The proceeds will be used to fund the acquisition of the SNC oil & gas business and provide headroom for working capital. As part of the acquisition, Bluewater has committed to a further capital injection, signalling strong shareholder commitment.

The combined business will also deliver in excess of $500 million in new contractual awards secured across all our regions and service offerings. Furthermore, these wins provide Kent with substantial growth visibility and allows us to focus on new opportunities going into the second half of the year as well as providing a major boost to our current backlog.

Ben Jones, Chief Financial Officer, Kent, added:

“This announcement marks an important milestone in our corporate history. The successful fundraise and acquisition will enable us to substantially increase our global footprint and to take on larger, more complex projects. The fundraise also demonstrates the strength of investor interest and confidence in Kent and its long-term value proposition. I would like to welcome all our new investors and thank our existing shareholder, Bluewater, for their ongoing support and commitment to our growth strategy.”

FAQs

Your questions answered

Which part of SNC-Lavalin was acquired to create Kent?
  • Kentech acquired multiple businesses from SNC-Lavalin’s oil and gas division, including the Oil & Gas and Offshore Wind, Hydrogen, Carbon Capture and Storage from the former Atkins business, Houston Offshore Engineering and Kentz.
  • Bringing it all together under the Kent brand is part of our overall strategy for continued growth across energy services and energy transition.
What is the rationale behind this acquisition?
  • We want to reinforce our position as the leading integrated services partner to the energy, chemical and low carbon sectors.
  • Joining forces strengthens and widens our technical expertise within our core service.
  • As a combined business, we bring expertise and experience of participating in the design, construction, commissioning, and maintenance of some of the most complex projects in the world. We can support you throughout the full lifecycle of an asset.
  • We will also focus more on the development of our energy transition services, so we can provide you with a full-service offering
  • Our differentiated market position is that we are more agile and more skilled when it comes to making decisions and completing complex projects than both our local and global competitors.
What are Kent’s lines of service?
  • Combining the technical expertise across all areas of the business allows us to provide you with truly end-to-end services while also focusing on growing some of our specialist divisions, such as the energy transition/renewables division to provide support to your evolving needs.
  • The skills and expertise of the people coming across from SNC-Lavalin’s oil and gas division will help us achieve the big ambitions we have planned.
  • The integration allows us to grow our business in four lines of service:

Engineering and consulting: focusing on high-value front end engineering design (FEED), design and consultancy services in traditional hydrocarbon and petrochemical sectors and, importantly, in sustainable energy and transition solutions

Projects: focusing on the project management consultancy (PMC) and site execution of the energy projects of any size and complexity across the globe

Commissioning, Completion & Start-Up: focusing on moving facilities from mechanical completion to full operations in the safest and most expedient way possible

Operations & Maintenance: focusing on maintenance, turnaround, and modification services through the operational life of the asset

Are there going to be any changes to Kent’s management teams following the combination of Kentech and SNC-Lavalin’s oil and gas division?
  • The senior management team will be a blend of former Kentech and SNC-Lavalin’s oil and gas business leaders.
  • John Gilley will remain as CEO of the combined entity.
  • Mr Gilley has been with Kentech since 2001 and its CEO since April 2020. He has been tasked with growing Kent’s specialist offerings and leading the company’s diverse talent base of 10,000 employees, spread across 84 nationalities around the world.
Will the terms and conditions of my contract with Kentech/SNC-Lavalin change?

  • The terms and conditions of any contracts that you signed with Kentech/SNC-Lavalin will remain the same.
  • Over time and with your permission we may look to migrate to new contracts to reflect legal entities change, but terms and conditions of any pre-existing contracts will not change.

Will anything change in the way I interact with you following the rebranding to Kent?
  • From a practical point of view, it will be business as usual. You will continue to interact with the same teams you have been dealing with and be introduced to some new members
  • We will make sure that any changes are communicated to you in good time.
Why have you chosen the name Kent for the new entity?
  • The name Kent reflects our 100-year-old history.
  • The name speaks with one voice – a voice we can all be proud of. And that is what we want to reflect. We want to take our company to the next level. We also want to help you reach your full potential.
  • And thus, the best way to describe us is “we design, build and maintain the assets that power the world for today and make it future-ready for tomorrow.”
How long will the integration of the businesses take?
  • The integration of the combined businesses is expected to be completed over a 12-month period.
  • We will update you in due course on the availability of our new specialist offerings as the combination of SNC-Lavalin’s oil and gas division, Kentz, and former Atkins division gives us new capabilities in oil and gas, offshore wind hydrogen and carbon capture, making us one of the industry’s few full-service energy operators.
Will the integration disrupt existing projects?
  • The implementation of our integration plan will be completed in a methodical way, without any disruption to your projects.
  • Throughout the integration process, you will continue to enjoy uninterrupted high-quality service.
  • Just because we are becoming a bigger company does not mean we will lose sight of our client centric approach.
  • We will continue to be able to make quick and effective decisions due to our robust governance framework.
Who should we contact if we have any further questions?
  • You can reach out to your existing point of contact from either Kentech/SNC-Lavalin for any further questions that you might have.
  • If your existing point of contact is changing, you will be informed in advance of any changes.
Somiya Mehta
“This is a company where the managers are rooting for you, they want the best for you and want you to grow with them.”
Somiya Mehta, Talent & Communications Admin
the energy within.
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