Nesma & Partners to buy Kent Global in energy sector deal

OSLO, NORWAY: Nesma & Partners, a leading contracting company in the Middle East, has announced that it has signed a sale and purchase agreement with Kent Global Plc, a global engineering and project management firm in the energy sector.

The deal is expected to be completed by the end of the year, subject to regulatory approvals and closing conditions.

The deal will allow Nesma & Partners to acquire Kent Corporate Holdings Limited, the parent company of Kent Global, for an undisclosed amount. Kent Corporate Holdings Limited is a privately owned company that has been backed by the global energy investment firm Bluewater since 2015.

The company has grown its revenue tenfold in the past six years, reaching $1.4 billion in 2021. The company offers value-based service contracts covering complex and technical solutions for the conventional energy, renewables, low-carbon, chemicals and processing sectors.

The company has a roster of blue-chip clients including international energy companies, national oil companies, renewable energy companies, as well as global petrochemical companies.

The deal will align two successful and entrepreneurial companies with a shared vision for sustainable expansion, creating greater opportunities in new and existing markets as well as service development and enhancement.

The deal will also leverage the strengths of Nesma & Partners and Kent to deliver high-quality services to clients across various industries.

Connecting their expertise and resources will enable them to create innovative solutions for clients that meet their evolving needs in an increasingly competitive marketplace across the entire project lifecycle, from consulting to design, build, commissioning, and startup through to maintenance and decommissioning.

Nesma & Partners and Kent have already been collaborating since June 2022, when they established a joint venture, NesmaKent, as EPC Champion for Saudi Aramco.

The joint venture aims to build an autonomous engineering centre of excellence in Saudi Arabia to develop new capabilities in engineering, procurement, and construction services relating to carbon capture, blue hydrogen, and blue ammonia technologies.

Deploying such technologies will minimise dependence on manual labour, enhance competitiveness, advance execution through schedule and cost improvements, and include visualisation, data integration, asset management, digital twin, analytics & artificial intelligence, cyber resilience, and low carbon technologies.

Under the ownership of Nesma & Partners, Kent will be positioned and resourced to accelerate the delivery of its ambitious strategy. There will be no changes in the decision-making autonomy structure of Kent or its core service offerings.

The current leadership team will remain in place and continue to deliver world-class services to the energy industry through four well-established service lines: Consulting; Engineering & Projects; Commissioning, Completions & Start-up; and Operations & Maintenance. With the new structure, Kent will double down on its efforts to address the challenges and opportunities of global energy transition.

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