Kentz expands US focus in €316m buy

Irish-headquartered construction and engineering firm Kentz, has taken over a US-based Valerus Field Solutions for $435m (€316m) in what is a major expansion for the company.

Kentz, whose head office is in Clonmel, Co Tipperary, said the benefits of the deal include an increased exposure to high value, high-margin contracts; 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.

Christian Brown, chief executive of Kentz said: “We have achieved exceptional organic growth since listing in 2008.