Dar Al Balad Contracting Acquisition Strengthens ECG's Industrial Services
Deal News | Mar 12, 2025 | PR Newswire Cision Energy Capital Group
Energy Capital Group (ECG), a Saudi-based investment firm, has completed the acquisition of Dar Al Balad Contracting (DAB) through its ECG2.0-Fund2. This strategic move enhances ECG's footprint in Saudi Arabia's industrial services sector, specifically within power and water industries. Aligning with Vision 2030, ECG aims to list this platform on Tadawul in two years, striving to innovate and expand its influence. DAB, known for its expertise in maintenance services for major industrial players like Saudi Electricity Company, strengthens ECG's portfolio significantly. The acquisition includes DAB's stake in STEGIS-KSA, a joint venture focusing on cross-country service solutions. The move underscores ECG's ambition to consolidate and scale regional industrial capabilities, creating a robust, publicly traded platform.
Sectors
- Industrial Services
- Investment and Private Equity
- Energy and Utilities
Geography
- Saudi Arabia – The primary focus of the acquisition and related strategic goals is within Saudi Arabia, supporting national initiatives and infrastructure development as per Vision 2030.
Industry
- Industrial Services – The article focuses on the acquisition of Dar Al Balad Contracting, a major provider of industrial services, reinforcing the importance of the industrial services sector in regional growth strategies.
- Investment and Private Equity – The article discusses the investment activities of Energy Capital Group through its ECG2.0-Fund2, highlighting the role of private equity in expanding industrial service platforms.
- Energy and Utilities – The acquisition aligns with Saudi Arabia's Vision 2030 and targets improvements in the Power and Water sectors, areas where DAB provides critical services.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Energy Capital Group (ECG) | Bidding Company | Company | A Saudi-based investment firm specializing in industrial services and technologies, pursuing growth via acquisitions in strategic sectors. |
| Dar Al Balad Contracting (DAB) | Target Company | Company | A leading provider of engineering and maintenance services for the industrial sector in Saudi Arabia, focusing on efficiency and reliability for key infrastructure. |
| ECG2.0-Fund2 | Investment Vehicle | Company | An investment fund utilized by Energy Capital Group for strategic acquisitions to enhance and expand its industrial services platform. |
| Saudi Electricity Company (SEC) | Client / Industry Context | Company | A major client of DAB, receiving essential maintenance services for critical power infrastructure within Saudi Arabia. |
| Ali Abdulaziz Alturki | Managing Partner | Person | Founder of Energy Capital Group, playing a key role in strategic development and leadership of investment initiatives. |
| Akram Alrabayah | Managing Partner | Person | Co-founder of Cayan Holdings and a significant figure in ECG's leadership as a General Partner. |
| Bassam Ibn Salamah | Managing Partner Addar Group | Person | A leader involved in the partnership development for DAB and ECG. |
| STEGIS-KSA | Joint Venture Partner | Company | A joint venture between DAB and STEG-IS, focusing on service capabilities for turbines and related infrastructure. |