Sentica in Citec bolt-on

Sentica acquired a 67% stake in multi-discipline technical solutions and project services provider Citec in June 2011.

Rune Westergård, the previous majority owner of the company, retained a 20% stake while other key people in Citec kept the remaining 13% stake.

The transaction saw Sentica merge Citec Engineering Oy and Citec Information Oy.

As a merged entity, Citec Group was set for accelerated growth and synergy benefits. Sentica is aiming to support the company's organic growth as well as select add-on acquisitions.

Company
Akilea designs offshore platforms, oil refineries, pipelines and power plants. The company's service offering includes engineering, procurement, construction and project management.

Founded in 2008 and located in Paris, Akilea currently employs 50 professionals and has an annual turnover of around €5m.

Akilea's customer base includes international companies such as Technip, Saipem, Foster Wheeler, Jacobs, Total France, EDF and Alstom.

People
Martin Strand is CEO of Citec. Daniel Benayoun is managing director of Akilea.

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