Ireland preparing for Fracking? – Kentz and Valerus Field Solutions…

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Is Ireland paving the way for development of shale gas (and wind energy as well in the Mid lands and at the coast) and so It will be ready within two years when the EPA report is issued …????!!!

Kentz, an Irish company has a deal with Valerus Field Solutions.
Valerus is a gas-handling specialist owned by US tycoon David Bonderman’s
TPG, with activity in Brazil, Mexico, Columbia and Venezuela.
The deal adds 665 employees to Kentz’s 14,500 workforce, much of which is
sourced from Ireland.

Proposed acquisition of Valerus Field Solutions
http://www.kentz.com/media-centre/press-releases/proposed-acquisition-of-valerus-field-solutions.aspx
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.

http://www.irishexaminer.com/business/kentz-expands-us-focus-in-316m-buy-252170.html
(…)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.

Kentz deal with Valerus a real game-changer as shares up 10pc
http://www.independent.ie/business/irish/kentz-deal-with-valerus-a-real-gamechanger-as-shares-up-10pc-29823387.html

(…)Earlier this year, Kentz boss Mr Brown said the company was tracking what’s
happening for the likes of exploration companies Providence Resources and
Fastnet off the Irish coastline with interest. (…)

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Bord Gais wind farms rebuff for Mainstream
http://www.independent.ie/business/irish/bord-gais-wind-farms-rebuff-for-mainstream-29838644.html
Bord Gáis Energy set to be sold for €1.12bn
http://www.irishtimes.com/news/politics/bord-g%C3%A1is-energy-set-to-be-sold-for-1-12bn-1.1625990

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Full article:

Kentz deal with Valerus a real game-changer as shares up 10pc
http://www.independent.ie/business/irish/kentz-deal-with-valerus-a-real-gamechanger-as-shares-up-10pc-29823387.html

10 December 2013
Shares in Tipperary-based engineering firm Kentz shot up by 10pc after the
London-listed company launched a $435m (?317m) deal to takeover US gas
services company Valerus Field Solutions.

Kentz will pay cash for the US business in a deal that will mean a big boost
to the Irish company’s earnings per share once it completes next year.

Kentz was heavily targeted in two acquisition attempts earlier this year,
but the Valerus deal changes its prospects as a buy target, analyst Dan
Slater of Arden Partners said.

“It really builds out the earnings per share impact and makes Kentz less
bite-size as an acquisition target,” he said.

“People will keep talking about Kentz as a merger and acquisitions target
but this is a major deal and is going to change the business quite a lot.”

The Valerus acquisition will bring the US shale market and opportunities in
Latin America into focus for Kentz, which as yet has had little activity
there to date.

It also adds new clients and builds up the engineering procurement and
construction side of Kentz’s business, with plans to get both companies’
sales teams working together as swiftly as possible.

Christian Brown, Kentz’s chief executive (pictured), said the acquisition
would give the company “a significant presence in the growing US market”.

The Valerus deal has boosted Kentz’s share price to such an extent that it
is no longer trading at the bargain rate that previously attracted suitors.

“Now the price has come right up, trading at a premium compared to Kentz’s
UK peers, so that a lot of that good value that made it seem a cheeky
acquisition has gone away,” said Mr Slater.

Both FTSE100 player Amec and German M+W group were knocked back in
approaches to Kentz in September.

Valerus is a gas-handling specialist owned by US tycoon David Bonderman’s
TPG, with activity in Brazil, Mexico, Columbia and Venezuela.

The deal adds 665 employees to Kentz’s 14,500 workforce, much of which is
sourced from Ireland.

Kentz, which started off as a Tipperary electrical contractor, has grown to
be a ?790m market cap company with a ?10bn business pipeline. Shares rose by
as much as 10pc during trading yesterday morning following the announcement.

Earlier this year, Kentz boss Mr Brown said the company was tracking what’s
happening for the likes of exploration companies Providence Resources and
Fastnet off the Irish coastline with interest.

“We would look to bid and win any business there,” he said. “We’re going to
continue to grow and grow in double digits and hopefully grow the
workforce.”

Irish Independent

2 thoughts on “Ireland preparing for Fracking? – Kentz and Valerus Field Solutions…

  1. Pingback: Sanvik acquires Varel International Energy Services | Fracking Free Ireland

  2. Pingback: DAVID BONDERMAN ‘FRACKS’ AGAIN – The Zephyr

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