Economy

Proposed acquisition of Valerus Field Solutions

Kentz will acquire Valerus Field Solutions for $435 million.

Kentz
09/12/2013 13:43
Visualizações: 953 (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
Offshore Operations
Crew training and connectivity are the true enablers of ...
23/12/25
Recognition
IBP Wins the “Events Oscar” Once Again with ROG.e 2024
11/12/25
FIRJAN
Rio Could Generate 676,000 New Jobs by Stimulating Nine ...
11/12/25
Inland Navigation
Grease-Free Revolution in Latin America’s Workboat Sector
10/12/25
PPSA
Production-Sharing Contracts to Produce 2 Million Barrel...
10/12/25
Recognition
National Public Transparency Program Grants Transpetro I...
10/12/25
Logistics
Transpetro expands its logistics operations with the int...
09/12/25
Auction
PPSA raises around R$ 8.8 billion from the sale of the F...
08/12/25
PPSA
Petrobras announces results of PPSA’s Non-Contracted Are...
08/12/25
Niterói
Niterói concludes second edition of Tomorrow Blue Econom...
02/12/25
Recognition
ABS Consulting Earns Third Elev8 GovCon Honor for Excell...
22/11/25
Award
Aed Energy Wins at the 2025 Energy Storage Awards
22/11/25
Mossoró Oil & Gas Energy 2025
PetroSupply Meeting to Boost Business at Mossoró Oil & G...
21/11/25
Results
Union’s Oil Production Reached 174 Thousand Barrels per ...
21/11/25
International Company News
TGS Extends Agreement with the Government of the Federal...
21/11/25
Company News
Belga Marine and Global Maritime Announce Strategic Part...
21/11/25
Niterói
Tomorrow Blue Economy sets Niterói in motion in the coun...
13/11/25
Cop30
ANP Participates in the Event and Advances Measures for ...
13/11/25
FIRJAN
Enaex 2025 Discusses Reindustrialization, Brazil’s Compe...
13/11/25
Mossoró Oil & Gas Energy 2025
Mossoró Oil & Gas Energy to Feature Strategic Debates in...
13/11/25
Company News
Norsul becomes the first company in Latin America to ado...
11/11/25
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.