Kentz says acquiring U.S.-based Valerus

LONDON Mon Dec 9, 2013 2:19am EST

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LONDON Dec 9 (Reuters) - British engineer Kentz said on Monday it had agreed to acquire U.S.-based Valerus field solutions for $435 million in cash, to expand its engineering capability and presence in Latin America.

Valerus made core earnings (EBITDA) of $51.5 million on revenue of $492.9 million last year, Kentz said in the statement.

The firm added the acquisition was expected to be earnings enhancing within the first full financial year of ownership.

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