WorleyParsons is pleased to confirm that it has completed the acquisition of KV3, a leading South African engineering consulting firm. KV3 was founded in 1977 and has over 900 staff. KV3 complements the existing capabilities of WorleyParsons’ current resource and energy business in South Africa. As part of the transaction WorleyParsons’ existing operations in South Africa will merge with KV3 with 30% of the combined business owned by a BBBEE Employee (Broad Based Black Economic Empowerment) trust.
Completion of acquisition
WorleyParsons also has African operations in Nigeria, Libya, Egypt, Angola and Ghana.
John Grill, Chief Executive Officer (CEO) of WorleyParsons said “KV3 brings substantial skills, capabilities, customer relationships and experience to our existing South African business. We are pleased to have completed this acquisition and welcome KV3 into WorleyParsons. The combined business will provide a good base to further develop and strengthen our African businesses.”
Francois Jacobs, CEO of KV3, said: “Joining WorleyParsons is an exciting development for KV3. We will have access to world class expertise and proven systems to further support our clients in the delivery of their projects. We will be able to provide a more comprehensive service offering, as well as meet a range of larger and more complex technical challenges. Our commitment to transformation, both of the Company and the industry remains a major priority.”