Elsewedy Electric Acquires Majority Stake in Thomassen Service
Deal News | May 06, 2025 | Zawya
Elsewedy Electric, an integrated energy and infrastructure solutions provider, has acquired a 60% stake in Thomassen Service, a company with over 30 years of experience in gas turbine operations and maintenance based in the Netherlands. The acquisition includes Thomassen Service's Middle East and Africa business unit, filter manufacturing division, and its African affiliate. This strategic move is designed to enhance Elsewedy Electric's energy services portfolio and provide a stronger foothold in the high-growth markets of the UAE, Oman, and Nigeria. Additionally, it marks the Egyptian company’s entry into the oil and gas services sector, facilitating tailored solutions for industrial clients. This acquisition is anticipated to bring increased market access, financial backing, and engineering capabilities to Elsewedy Electric, enabling it to extend its services more effectively across Europe, the GCC, and Africa. Ahmed Elsewedy, CEO of Elsewedy Electric, and Peter Hertog, CEO of Thomassen Service, emphasize the benefits of this partnership in aligning technological expertise with expanded regional reach.
Sectors
- Energy
- Oil & Gas
- Infrastructure
Geography
- Egypt – Elsewedy Electric is headquartered in Egypt and plays a significant role in expanding the country's energy infrastructure.
- Netherlands – Thomassen Service has Dutch engineering roots and is known for its expertise in the energy sector, making it a strategic acquisition for Elsewedy Electric.
- United Arab Emirates, Oman, Nigeria – These countries are identified as high-growth markets where Thomassen Service has established operations which Elsewedy Electric aims to leverage.
Industry
- Energy – Elsewedy Electric is involved in energy and infrastructure solutions, and its acquisition of Thomassen Service strengthens its capabilities in the energy sector, particularly in gas turbine operations.
- Oil & Gas – The acquisition signifies Elsewedy Electric's strategic entry into the oil and gas services sector, expanding its service offerings to industrial clients and petrochemical facilities.
- Infrastructure – The acquisition aligns with Elsewedy Electric's focus on infrastructure solutions, integrating Thomassen Service's specialized operations and field services.
Financials
- 60% – The stake acquired by Elsewedy Electric in Thomassen Service.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Elsewedy Electric | Acquirer | Company | A leading integrated energy and infrastructure solutions provider across Europe, the Middle East, and Africa. |
| Thomassen Service | Target | Company | A company with over 30 years of experience in gas turbine operation, maintenance, and component repair, with established operations in the Middle East and Africa. |
| Ahmed Elsewedy | CEO | People | CEO of Elsewedy Electric, driving the company's strategic expansion and acquisition initiatives. |
| Peter Hertog | CEO | People | CEO of Thomassen Service, leading the company into its new phase under Elsewedy Electric's ownership. |