Kent strengthens Board of Directors following the completion of its acquisition by Nesma & Partners.
Kent, a global energy services provider, is delighted to announce the completion of its sale to Nesma & Partners, a leading contracting company in the Middle East.
Alongside this transaction, Kent has restructured its Board of Directors to steer the company into a new trajectory of growth and innovation.
Kent has achieved unprecedented organisational growth in the two years since its acquisition of the oil and gas business of SNC-Lavalin. The company has delivered a remarkable 75% growth in top-line revenue in just three years. Moreover, 2023 saw a healthy 23% growth in profitability and a remarkable 32% growth in the backlog figure compared to 2022 numbers.
As part of the changes to the Board of Directors, Kent bids farewell to Mark Dickinson and Marcello Stroppa from Bluewater, Kent's former majority owners, industry stalwart Jim Moffat, and John Kent, the grandson of the company’s founder. John Kent's role as Chief Energy Transition Officer will be replaced, doubling down on Kent’s efforts to achieve its purpose.
The newly strengthened Board welcomes Driek Desmet, a former McKinsey Senior Partner and business technology transformation expert, Gary Parke, an authority in energy transition, and Samer Abdul Samad, President and CEO of Nesma & Partners, who has been an integral part of the Nesma & Partners business for the past 30 years. There will be another independent director joining the board, further enhancing Kent's leadership team, in the coming months.
John Gilley, CEO of Kent, expressed his enthusiasm for the company's achievements and the promising future ahead, stating, "I am incredibly proud of Kent's successes since our launch in 2021. With the backing of Nesma & Partners, we are poised to reach new heights and play a central role in addressing the world's greatest energy challenges in the most responsible way."
Samer Abdul Samad, CEO of Nesma & Partners, shared his excitement about the completion of the deal, saying, "We are delighted to have completed the acquisition of Kent. This now marks a new chapter for both our companies. We are looking forward to supporting the Kent business to not only continue but supercharge its current trajectory of success.”
Under the ownership of Nesma & Partners, Kent will be positioned and resourced to accelerate the delivery of its ambitious strategy. There will be no changes to the decision-making autonomy structure of Kent or its core service offering. The current leadership team will remain in place and continue to deliver world-class services to the energy industry through four well-established service lines: Consulting; Engineering & Projects; Commissioning, Completions & Start-up; and Operations & Maintenance. With the new structure, Kent will double down on its efforts to address the challenges and opportunities of the global energy transition.