The Clough and CH-IV union combines complementary LNG skills and resources that will significantly enhance our service offering for LNG clients.
Hanover, MD (PRWEB) August 07, 2014
Jeffrey P. Beale, President of CH-IV International ("CH-IV"), is pleased to announce that Clough Limited (“Clough”) has acquired a 100% shareholding of CH-IV. The acquisition will provide Clough with a platform to enter the North American LNG market, while providing resources to assist CH-IV to meet the growing demand for their services.
Clough is a market leader in the provision of LNG engineering and project services in the Australian and Papua New Guinea market. The company provides engineering, construction, commissioning and brownfields services to some of the world’s largest energy companies and has been present on every LNG project undertaken in the Australian and PNG in recent years. Today Clough employs a workforce of nearly 4,000 people across Australia, Papua New Guinea, Asia, United Kingdom and Africa.
CH-IV specializes in the provision of LNG engineering and consulting services to the global LNG sector, and is well positioned in the U.S. LNG market, having worked on nearly every LNG project filed for permit in the region in recent years. The burgeoning U.S. shale gas industry has seen unprecedented demand for CH-IV’s services. Clough will assist CH-IV’s growth through the provision of project management expertise and engineering resources from Clough’s global offices.
The combined offering will see both companies work across the entire LNG asset lifecycle to manage risk and drive out inefficiency for clients across the life of their asset.
Mr. Beale, CH-IV’s founder and President, said he was excited about the opportunities this transaction would bring.
“The Clough and CH-IV union combines complementary LNG skills and resources that will significantly enhance our service offering for LNG clients. CH-IV now has the required support to offer our niche LNG engineering and consulting services to previously untapped markets, both locally and globally”.
Clough’s CEO Kevin Gallagher said the CH-IV business model and culture aligned closely with the company’s strategy.
“When assessing companies for acquisition, Clough looks for a number of attributes. Excellent technical capabilities, a niche market position, alignment with Clough’s strategy and a strong cultural fit. CH-IV ticked all these boxes for Clough. We are delighted to welcome Jeff Beale and the CH-IV team to the Clough family”.
Clough and CH-IV have already commenced jointly tendering for work and have recently secured an engineering study in the Caribbean.