Blue Water Energy-backed Kentech completed the acquisition of the an oil and gas business of SNC-Lavalin.

Blue Water Energy-backed Kentech, which designs, engineers, constructs, maintains, modifies, and procures industrial projects and buildings, completed the acquisition of the oil and gas business of SNC-Lavalin, a fully integrated professional services and project management company. Financial terms were not disclosed. "Following the introduction of our new strategy in July 2019, we have significantly improved our operating cash flows and demonstrated that our Engineering Services line of business is resilient and can deliver strong results. The sale of the Oil & Gas business further simplifies and de-risks our business and allows us to enhance our focus on growing our high potential core Engineering Services business. I would like to thank all of our Oil & Gas employees for their contributions over the years and wish them well in the next stage of their journey," Ian L. Edwards, SNC-Lavalin Group President and CEO.