Kent, the global integrated energy services partner is acquiring Exceed (XCD) Holdings Limited, to create a global leader in decommissioning, well management and sub surface engineering services.
This acquisition will strengthen Kent’s position in the fast-growing global decommissioning market, set to rise from US$8bn to US$16bn a year by 2035, as the company aims to become a full-service partner across the energy lifecycle, including late-life operations through to the safe and successful decommissioning of customer assets.
Exceed, headquartered in Aberdeen and active in over 40 countries, has two decades of experience in delivering complex offshore well projects, with over 70 wells drilled and more than 150 decommissioned to date. Its proven delivery model and track record will combine with Kent’s global platform and project execution strength to meet growing demand for safe, compliant and cost-effective end-of-life solutions for oil and gas infrastructure.
The deal could also open up significant energy transition opportunities given Exceed is already repurposing reservoirs for carbon capture and hydrogen storage projects, and Kent also has expertise in this area.
“Our agreement to acquire Exceed is a bold step into the future of responsible energy operations,” said John Gilley, CEO of Kent. “Exceed’s specialist capabilities in well and reservoir management, coupled with their strong reputation in decommissioning, complement our vision of offering full lifecycle services to our clients. Together, we will be uniquely positioned to help the industry navigate energy security, net-zero mandates, and the safe retirement of offshore assets.”
Ian Mills, Managing Director of Exceed, commented, “We’ve built Exceed over 20 years with a commitment to technical excellence, innovation and client trust. Joining forces with Kent is the natural next step. It gives us the financial backing and global reach to scale our expertise to new markets and opportunities, while preserving the same culture, entrepreneurial spirit and values that define us.”
The transaction is expected to be completed later this year.
