Bluewater completes sale of global engineering firm Kent to Nesma & Partners

Bluewater completes sale of global engineering firm Kent to Nesma & Partners

- Under Bluewater, Kent revenues grew from $200mn to $1.4bn.

- The significant growth of Kent underscores Bluewater’s unique value creation model.

- Bluewater Founding Partner, Tom Sikorski: “Kent is a perfect example of the Bluewater value creation model centred on transformational acquisitions and internationalisation, and a textbook private equity deal in the Middle East. The successful transaction with Nesma & Partners also shows the international dealmaking capability that drives Bluewater, as we move towards raising our third fund.”

Bluewater, the specialist energy private equity firm, has today completed the sale of Kent, a global engineering firm headquartered in Dubai, UAE, to Nesma & Partners, a Saudi Arabian contracting company.

The terms of the transaction are undisclosed.

Bluewater acquired Kent (then known as Kentech) in 2015, and under Bluewater’s stewardship has seen revenues soar from $200mn to $1.4bn in a little over eight years.

During its ownership, it drove significant value creation by implementing its value creation blueprint, which is focused on four key levers:

- Internationalisation: headquartered in Dubai, Kent now has offices across the world, including in the US, China, UK, India and Australia, with projects in more than 20 countries.

- Transformational acquisitions: the major highlight being the 2021 acquisition of SNC Lavalin’s energy business.

-