ADNOC Drilling Acquires 51% Stake in NTS AMEGA through JV
Deal News | Dec 31, 2024 | Zawya
ADNOC Drilling Company, in a joint venture (JV) with Alpha Dhabi Holding named Enersol, has finalized the acquisition of a 51% stake in NTS AMEGA. This acquisition, valued at $58 million, was completed on 31 December 2024. The strategic move aims to improve the market value and operational efficiency of the entities involved. Previously, Enersol also announced plans to acquire EV Holdings Limited from Dunedin, a UK-based private equity firm, for approximately $45 million. Additionally, Enersol had expanded its stake in Gordon Technologies to 42.20% at a price nearing $270 million in June 2024. NTS AMEGA is renowned for providing repair, rental, and manufacturing solutions in the global energy sector.
Sectors
- Energy
- Private Equity
Geography
- United Arab Emirates – ADNOC Drilling and Alpha Dhabi Holding are based in the UAE, making it a primary geographic focus of this deal.
- United Kingdom – The reference to EV Holdings Limited previously owned by UK-based private equity firm Dunedin highlights the UK's involvement in related transactions.
Industry
- Energy – NTS AMEGA operates within the energy sector, offering solutions for repair, rental, and manufacturing to support energy markets worldwide.
- Private Equity – The acquisition involves strategic investments and transactions often associated with private equity activities akin to those undertaken by ADNOC Drilling and Alpha Dhabi Holding.
Financials
- $58 million – The acquisition price for a 51% stake in NTS AMEGA by Enersol.
- $45 million – Proposed acquisition price for EV Holdings Limited by Enersol from Dunedin.
- $270 million – The purchase price for a 42.20% stake in Gordon Technologies by Enersol.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ADNOC Drilling Company | Buyer | Company | ADNOC Drilling is a major energy drilling company involved in acquiring stakes in related companies to enhance its market position. |
| Alpha Dhabi Holding | Co-Buyer | Company | Alpha Dhabi Holding is a diversified UAE-based company participating in the Enersol JV for the acquisition. |
| Enersol | Joint Venture | Company | A joint venture between ADNOC Drilling and Alpha Dhabi Holding, focusing on energy sector acquisitions. |
| NTS AMEGA | Target | Company | NTS AMEGA provides repair, rental, and manufacturing solutions for the global energy market. |
| Dunedin | Selling Company | Company | A UK-based private equity firm that previously owned EV Holdings Limited. |