Economy

Proposed acquisition of Valerus Field Solutions

Kentz will acquire Valerus Field Solutions for $435 million.

Kentz
09/12/2013 13:43
Visualizações: 1422 (0) (0) (0) (0)

 

Kentz said on Monday it had agreed to acquire U.S.-based Valerus Field Solutions for $435 million in cash, to expand its engineering capability and presence in Latin America. Kentz, a specialist construction company focused on oil and gas, mining and infrastructure, which was itself a takeover target earlier this year, had long said it wanted to grow its engineering arm in order to bid for more engineering, procurement and construction (EPC) contracts. 
"We've found a very strong and agile business with a strong culture that fits our own, so we're pleased to have found it," Kentz Chief Executive Chris Brown told Reuters. Brown said the acquisition would give Kentz access to the U.S. market for both conventional oil and shale, as well as to Latin America, with Valerus established in Venezuela, Colombia and Mexico. The deal adds about 700 people to Kentz's 14,500 employees with a focus on expansion rather than synergy savings. "There's very little if any integration necessary here ... no synergies (are) needed to make the deal work," Brown said. 
Valerus made core earnings (EBITDA) of $51.5 million on revenue of $492.9 million last year, Kentz said in the statement. The firm added the acquisition was expected to be earnings enhancing within the first full financial year of ownership and should be completed shortly after a shareholder meeting on Jan. 2.

Kentz said on Monday it had agreed to acquire U.S.-based Valerus Field Solutions for $435 million in cash, to expand its engineering capability and presence in Latin America. Kentz, a specialist construction company focused on oil and gas, mining and infrastructure, which was itself a takeover target earlier this year, had long said it wanted to grow its engineering arm in order to bid for more engineering, procurement and construction (EPC) contracts. 


"We've found a very strong and agile business with a strong culture that fits our own, so we're pleased to have found it," Kentz Chief Executive Chris Brown told Reuters. Brown said the acquisition would give Kentz access to the U.S. market for both conventional oil and shale, as well as to Latin America, with Valerus established in Venezuela, Colombia and Mexico. The deal adds about 700 people to Kentz's 14,500 employees with a focus on expansion rather than synergy savings. "There's very little if any integration necessary here ... no synergies (are) needed to make the deal work," Brown said. 


Valerus made core earnings (EBITDA) of $51.5 million on revenue of $492.9 million last year, Kentz said in the statement. The firm added the acquisition was expected to be earnings enhancing within the first full financial year of ownership and should be completed shortly after a shareholder meeting on Jan. 2.

 

Most Read Today
see see
International
PortXL presents its 2026 cohort of 11 maritime startups ...
30/09/26
ADIPEC
ADIPEC 2026 set to welcome record Asian participation as...
29/09/26
ANP
Royalties: amounts referring to July production were dis...
29/09/26
25th WPC
Riyadh Takes Center Stage as Global Energy Heavyweights ...
28/09/26
ROG.e 2026
Petrobras president advocates active exploration and exp...
25/09/26
ROG.e 2026
Nikki Martin, president and CEO of EnerGeo Alliance, spo...
25/09/26
ROG.e 2026
Oil States Highlights Integration Between Engineering, M...
25/09/26
ROG.e 2026
Port of Açu and OceanPact sign agreement for expansion o...
25/09/26
ROG.e 2026
Lumina’s Role and the Impact of ROG.e 2026 on the Energy...
25/09/26
ROG.e 2026
Leaders Identify Brazil as a Pillar of Energy Security a...
24/09/26
ROG.e 2026
Firjan SENAI and Sebrae Rio Connect Small Businesses wit...
24/09/26
ROG.e 2026
PPSA Study Identifies Best Practices to Support Investme...
24/09/26
ROG.e 2026
ROG.e 2026 Reinforces the DE&I Agenda in the Energy Sect...
24/09/26
ROG.e 2026
IBP Launches Publication on Energy Companies’ Socio-envi...
23/09/26
ROG.e 2026
Industry Giants and Independent Producers Accelerate Pro...
22/09/26
ROG.e 2026
Firjan Attends ROG.e 2026 Opening Ceremony and Signs Tec...
22/09/26
ROG.e 2026
ROG.e 2026 Opening Ceremony Highlights Just Energy Trans...
21/09/26
ROG.e 2026
Global Leaders Position Brazil as a Hub of Stability, At...
21/09/26
ROG.e 2026
Exclusive Interview: Pelagus targets Brazil to strengthe...
21/09/26
ROG.e 2026
At ROG.e, Firjan SENAI Holds the 30th Edition of the Sup...
21/09/26
ROG.e 2026
ROG.e 2026 kicks off next Monday (21) with global energy...
19/09/26
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.