UK's Kentz Pays $435M For US-Based Valerus

Law360, New York (December 9, 2013, 6:40 PM EST) -- Kentz Corp. Ltd. will dole out $435 million to pick up rival Valerus Field Solutions, giving the U.K. engineering firm a stronghold in the U.S. and Latin-American oil and gas engineering industries, according to a Monday statement.

The all-cash deal for the field solutions division will be funded with a $400 million term loan and either existing cash resources or a new multicurrency $160 million revolving credit facility, Kentz said. Valerus will continue to offer contract and after-market services under a currently undisclosed name when the...
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