About The Acquisition

Distinctive Strengths, Shared Ambitions

In April 2020 when the COVID-19 pandemic struck the globe, we made a promise to our people that we would not only survive as a company but emerge better, stronger and faster than our would-be competitors. We have honoured that commitment, and gone further.

On 9th February 2021, we announced the acquisition of SNC-Lavalin’s oil and gas business. It is a landmark deal and testament to the efforts of all parties involved, which is expected to be completed in the first half of 2021. It reinforces our ambition as an exceptional company to work for and with and positions us as a leading integrated energy services company.

We will immediately benefit from a strong and diversified combined roster of blue-chip clients in the energy space, with a backlog of US$1.1 billion of work on hand.

With an enviable track record on some of the world’s most complex and ambitious projects, the enlarged company will compete for prime new projects in the global arena, confident in its financial strength and full range of specialist expertise.

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SNC-Lavalin’s Resources Division includes people and assets brought together through their acquisition of the Kentz and other energy services businesses in recent years. Our complementary businesses will join forces, creating a stronger offering across the full asset life cycle – from consulting to design and build, commissioning and start-up, through to maintenance, modification and turnaround, as well as decommissioning services.

Combined, we will offer a truly global footprint, reaching across key countries in the Americas, Europe and the Caspian, the Middle East & Africa, Russia and the Asia-Pacific region, this transaction enables the company to deliver its best in class services to clients across all global energy markets.

This further strengthens our pool of specialist talent, geographical reach, and the robust balance sheet to compete for premium contracts covering complex and technical projects. By investing now, we are strategically positioning the company to take advantage of the next cycle of growth.

With a backlog of US$1.1 billion of work on hand and a sales pipeline of more than US$7 billion, we will achieve our Engine for Growth Strategy three years ahead of schedule.  This in turn gives us a greater platform for ambition and growth, for both our business and for our employees.

Also, we are actively addressing the challenges of the global energy transition and this acquisition has given us an entry point to realise our long-held ambitions to become a significant player in this space. It is an area of business that our clients will be investing heavily in as the world moves towards a cleaner and greener future.