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Kentz proposed acquisition of Valerus Field Solutions


Published Dec 11, 2013
Kentz Corporation Limited

Kentz Corporation Limited announces the proposed acquisition of the Valerus field solutions business (Valerus FS) for US$435 million in cash, subject to a working capital adjustment, payable in cash at Completion (the "Acquisition").

Key Highlights

◾ Valerus FS is a US-based integrated oil and gas surface facility solutions provider which provides a full suite of products and services from the well head to the pipeline as well as an integrated services capability ◾ The Acquisition is consistent with Kentz's strategy of establishing itself as a recognised market leader in providing highly skilled process engineering, EPCM and EPC services for small and medium sized oil and gas processing facilities worldwide. In particular, the Acquisition is expected to deliver the following principal benefits: ◾ increased exposure to high value, high margin contracts further up the value chain; ◾ expanded offering through the addition of 665 employees including 198 personnel with demonstrable experience in gas handling and processing; ◾ diversified and expanded operational footprint with Valerus FS strongly positioned in the US onshore oil and gas market, including shale gas, a new market for Kentz; ◾ increased exposure to Latin American markets with Valerus FS' established presence in Brazil, Mexico, Colombia and Venezuela; ◾ an increased ability to leverage and enhance existing EPC capabilities and differentiators in onshore oil and gas processing facilities;

Tags: Kentz Corporation Limited




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