Kentz

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Kentz Corp. Ltd.
TypePublic limited company
Traded asLSEKENZ
IndustryEngineering and construction
Founded1919
FoundersMichael Francis Kent
HeadquartersSt Helier, Jersey
Key peopleChristian Brown (CEO)
Revenue$1,657.5 million (2013)[1]
Operating income$115.0 million (2013)[1]
Net income$74.7 million (2013)[1]
Employees14,500 (2014)[2]
Websitewww.kentz.com
 
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Kentz Corp. Ltd.
TypePublic limited company
Traded asLSEKENZ
IndustryEngineering and construction
Founded1919
FoundersMichael Francis Kent
HeadquartersSt Helier, Jersey
Key peopleChristian Brown (CEO)
Revenue$1,657.5 million (2013)[1]
Operating income$115.0 million (2013)[1]
Net income$74.7 million (2013)[1]
Employees14,500 (2014)[2]
Websitewww.kentz.com

Kentz Corp. Ltd. is an engineering and construction business serving clients primarily in the oil and gas, petrochemical and mining and metals sectors.

History[edit]

The company was founded by Michael Francis Kent as an electrical contracting business in Clonmel in County Tipperary in 1919.[3] The business was taken over by his brother in 1948, and then by his son Frank in 1963.[3] The business, which had been renamed MF Kent, expanded rapidly during the 1970s and 1980s as it upgraded the Irish telecommunications network.[3] In 1987, it was acquired by Gus Kearney, its general manager, who expanded operations into Singapore, Spain and Africa.[3]

In 1992, the company made heavy losses on the refurbishment of the Museu Nacional d'Art de Catalunya and struggled to survive.[4] Two years later, the Malaysian group, Peremba, stepped in and bought a majority stake in the business, providing much-needed capital.[3]

The company changed its name to Kentz following the rescue.[4] Hugh O'Donnell was appointed chief executive in 2000 and the company was subsequently listed on the Alternative Investment Market in February 2008. Kentz was transferred to the main market of the London Stock Exchange in July 2011.[5] Christian Brown became chief executive in February 2012.[6]

On 23 June 2014, Montreal's SNC-Lavalin Group Inc. agreed to acquire Kentz for about C$2.1 billion ($1.95 billion).[7] On 22 August 2014 SNC-Lavalin Group announced that it had completed the acquisition of Kentz and that Kentz had been delisted from the London Stock Exchange.[8]

Operations[edit]

Kentz has operations in 30 countries around the world, including the Americas, the Middle East, Africa, Australasia, the Far East, Russia and Europe.

The company's three main business units are:[9]

See also[edit]

References[edit]

  1. ^ a b c "Preliminary Results 2013". Kentz Corp. Ltd. Retrieved 24 March 2014. 
  2. ^ Kentz: About us
  3. ^ a b c d e "Troubleshooter". The Independent. 9 February 2008. Retrieved 2011-09-17. 
  4. ^ a b "Spain: MF Kent acts to quell rumours of mechanical and electrical problems on £400m Barcelona project". Construction News. 2 July 1992. Retrieved 2011-09-17. 
  5. ^ "Kentz to transfer listing". Business Times. 5 July 2011. Retrieved 2011-09-17. 
  6. ^ "Kentz names new CEO". Business and Leadership. 20 January 2012. Retrieved 2013-02-26. 
  7. ^ "SNC-Lavalin to Buy U.K.'s Kentz Corp. for $1.95 Billion". Wall Street Journal. 23 June 2014. Retrieved 24 June 2014. 
  8. ^ "SNC-Lavalin completes landmark acquisition of Kentz". Newswire. 22 August 2014. Retrieved 23 August 2014. 
  9. ^ "Kentz secures €25.5m refinery deal". The Examiner. 23 February 2011. Retrieved 2011-09-17. 

External links[edit]