Kent International PLC has signed a binding settlement to purchase Exceed Holdings Ltd., marking the built-in vitality providers firm’s enlargement into the decommissioning market.
“This acquisition positions Kent on the forefront of a market set to double in dimension over the subsequent decade, with world offshore decommissioning spend anticipated to rise from $8 billion to $16 billion per yr by 2035”, Dubai-based Kent stated in an announcement on-line.
Aberdeen-headquartered Exceed says it operates in over 40 international locations and is one among solely three licensed nicely operators in the UK.
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Kent says it has a workforce deployed throughout 34 international locations, totaling over 13,000 workers. It presents consulting, engineering, commissioning, and operations and upkeep providers. Kent is current or investing within the sectors of onshore and offshore oil, refining, built-in fuel, offshore wind, various fuels, vitality storage, carbon seize, water, chemical compounds, plastics and industrial infrastructure.
“The deal additionally unlocks vital alternatives within the vitality transition house”, Kent added. “Exceed is already repurposing reservoirs for carbon seize and hydrogen storage tasks, and mixed with Kent’s present experience on this house will deliver an unmatched providing to {the marketplace}”.
“Exceed’s specialist capabilities in nicely and reservoir administration, coupled with their sturdy status in decommissioning, complement our imaginative and prescient of providing full lifecycle providers to our purchasers”, stated Kent chief govt John Gilley. “Collectively, we will likely be uniquely positioned to assist the trade navigate vitality safety, net-zero mandates and the protected retirement of offshore belongings”.
For Exceed, the merger “offers us the monetary backing and world attain to scale our experience to new markets and alternatives, whereas preserving the identical tradition, entrepreneurial spirit and values that outline us”, Exceed managing director Ian Mills stated.
The businesses didn’t disclose the monetary particulars of the transaction, which they count on to shut this yr.
Exceed is Kent’s second acquisition this yr, after Sudlows Consulting. Kent accomplished the acquisition of Sudlows, additionally domiciled in Dubai and with places of work in India, Saudi Arabia and South Africa, within the first quarter.
“This milestone marks Kent’s strategic entry into the high-growth worldwide knowledge heart engineering market and strengthens its dedication to sector diversification and sustainability”, Kent stated February 25.
“The worldwide knowledge heart sector has skilled extraordinary progress, with a 16 % CAGR between 2017 and 2024, and forecasts indicating an 11 % CAGR from 2024 to 2028”, Kent famous.
“This surge is fueled by world megatrends corresponding to growing knowledge utilization, cloud adoption, the rise of synthetic intelligence and knowledge sovereignty laws mandating native knowledge internet hosting. These developments current a non-cyclical progress alternative anticipated to span a long time”.
“Collectively, we’ll form the way forward for knowledge heart engineering whereas advancing world safety and decreasing environmental influence”, Gilley stated.
To contact the creator, e-mail jov.onsat@rigzone.com
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