KP ENGINEERING ACQUIRED BY THE SHAW GROUP

HOUSTON, Jan. 31, 2023 /PRNewswire/ -- KP Engineering (KPE), a leader in the design and execution of customized EPC solutions for the refining, syngas, hydrogen, and renewable fuels industries, is pleased to announce the completed acquisition of its assets by The Shaw Group (Shaw), a leader in global pipe and module fabrication.  Going forward the company's new legal entity will be KP Shaw, LLC.

Shaw has built a reputation as the premier fabrication company throughout the U.S. and Middle East, with 1500 employees across six state-of-the-art facilities. This strategic acquisition will further enable Shaw to deliver complete engineering, procurement, and fabrication (EPF) project solutions to a variety of industries around the world. KPE brings a 19-year history of superior engineering, procurement, and project management to Shaw, which will now offer unparalleled modular and EPF solutions to the oil and gas, hydrogen and chemical, and renewable fuels and energy industries.

William E. Preston, who will continue as the President and CEO of KP Shaw, LLC, says, "This acquisition serves to fulfill an urgent requirement for bankable EPF service capacity in the growing North American market. KPE enhances the services in Shaw's already strong portfolio of offerings, which includes pipe, module, and structural steel fabrication, induction bending and specialty coating services. The integration of Shaw's high-quality services will enable us to better meet the needs of our well-established customer base and will also provide us with fresh opportunities to engage with new customers on a global scale."

"The completion of this transaction is another significant step for Shaw in growing our capabilities to service throughout the entire project lifecycle," said Mike Childers, President and CEO of The Shaw Group, "KPE's unique expertise in the energy transition markets is an excellent complement to our existing portfolio in the oil and gas, pulp and paper, pharmaceuticals, food and beverage and wastewater industries. I am happy to welcome the KPE team to join Shaw's operations."

Shaw acquired all the assets and ongoing operations of KP Engineering, subsuming existing leases at facilities.

KP Shaw, LLC will operate as a subsidiary of The Shaw Group. Branding for the new entity will be established in the coming months.

About KP Engineering: KPE's mission is to provide value-based engineering, procurement and project management solutions to the refining, specialty chemical and renewable industries at a price that enables our customers to achieve their safety, economic, environmental, and performance objectives. We accomplish this through rigorous engineering processes, a streamlined accessible organization, superior project execution and a commitment to excellence. To find out more, visit www.kpe.com.

About The Shaw Group: With over 2 million square feet of manufacturing capacity, Shaw is strategically positioned to execute large-scale module and fabrication projects for heavy industrial clients around the world. Shaw, and its subsidiary companies, offer a unique combination of world-class engineering solutions and fabrication capability, along with complete project execution offerings under bankable contract structures. By acting as integrated project partners, the company boasts a level of service unmatched by competitors. Headquartered in Houston, Texas, Shaw employs approximately 1,500 people across its offices and operations in North America and the Middle East. For more information, please visit www.theshawgrp.com.

SOURCE KP Engineering