Kent plc has signed a binding agreement to acquire Exceed (XCD) Holdings Limited, a leader in well management, subsurface and decommissioning engineering services. The acquisition marks Kent’s strategic expansion in the fast-growing global decommissioning market, delivering on its aim 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 with operations spanning over 40 countries, brings two decades of experience in delivering complex offshore well projects, with over 70 wells drilled and more than 150 decommissioned to date. The company is one of only three licensed UK Well Operators and is widely recognized for its deep technical expertise and a strong client base that includes both leading international, national and independent energy organizations.
Strengthening global capabilities
The acquisition positions Kent at the forefront of a market set to double in size over the next decade, with global offshore decommissioning spend expected to rise from $8 billion to $16 billion per year by 2035. Exceed’s proven delivery model and outstanding 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 also unlocks significant opportunities in the energy transition space. Exceed is already repurposing reservoirs for carbon capture and hydrogen storage projects, and combined with Kent’s existing expertise in this space, will bring an unmatched offering to the marketplace.
“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.”
Unlocking shared growth
The deal creates compelling synergies for both businesses. For Exceed, the partnership with Kent unlocks access to a truly global footprint, a wider portfolio of tier-one clients, and the financial strength to pursue larger, more complex scopes across new geographies. For Kent, the acquisition strengthens its position in the decommissioning market – an area of accelerating demand as the world manages ageing offshore infrastructure. By integrating Exceed’s unparalleled independent technical excellence into Kent’s high-value consulting and low-carbon engineering services, the combined business is poised to deliver innovative, sustainable solutions at every stage of the asset lifecycle.
“We’ve built Exceed over 20 years with a commitment to technical excellence, innovation and client trust,” commented Ian Mills, Managing Director of Exceed. “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.
This acquisition is Kent’s second in recent months, following its entry into the data center market through the purchase of Sudlows Consulting. Together, these moves underscore Kent’s strategy to diversify across high-growth energy and infrastructure sectors and reinforce its position as a forward-thinking global engineering powerhouse.
