Elsewedy Electric Expands with 60% Stake in Thomassen Service

In a strategic acquisition, Elsewedy Electric has obtained a 60% stake in Thomassen Service to expand its operations to gas turbine services, including operation, maintenance, and component repair across key markets. This acquisition, encompassing Thomassen's MEA business unit and its African affiliate, enhances Elsewedy Electric's Engineering and Construction portfolio by adding gas turbine operations and maintenance capabilities. The transaction allows Elsewedy Electric, an energy and infrastructure solutions provider with a strong presence in Europe, the Middle East, and Africa, to extend its services to full-cycle energy offerings from project execution to asset management. With Thomassen's existing operations in the UAE, Oman, and Nigeria, Elsewedy Electric gains access to new regional markets and plans further expansion in East Europe and CIS countries through EPC opportunities. Additionally, the acquisition supports Elsewedy's endeavors to enter the oil and gas sector, leveraging Thomassen's technical expertise to service industrial and petrochemical clients. The integration into the Elsewedy Electric Group is anticipated to further enhance Thomassen's operational capacity and geographic footprint with technology and workforce development support.