NMDC LTS concludes acquisition of 70% equity stake in Emdad
ABU DHABI (ALETIHAD)The NMDC Group has announced that its wholly owned subsidiary, NMDC LTS, has completed the acquisition of a 70% stake — comprising both share capital and voting rights — in Emdad, an integrated service provider operating across the oil and gas, utilities, and industrial sectors. The transaction was financed through a combination of debt and equity.This strategic acquisition allows NMDC Group to expand into the operational expenditure (OPEX) segment of oilfield services, enabling the company to diversify its portfolio further and strengthen its competitive position. Emdad brings a broad suite of services including well intervention, waste management, shutdown and turnaround services, coiled tubing, and valve solutions. In 2024, Emdad reported revenues exceeding Dh600 million, with total equity standing at Dh217 million.Eng. Yasser Zaghloul, CEO of NMDC Group, said: 'We are pleased to complete this landmark acquisition, which signals the beginning of an exciting new chapter for both organisations. Emdad is a distinguished industry leader with strong capabilities and deep sector knowledge. By combining Emdad's strengths with NMDC's scale and focus on innovation, we are creating a powerful platform for long-term value creation. This integration aligns with our diversification strategy and enhances our ability to deliver broader service offerings, create meaningful value, and drive sustainable growth for our clients, partners, and stakeholders across the region's dynamic energy landscape.'Mohammed Juma Al Bawardi, CEO of Emdad, added: 'This milestone transaction underscores both the maturity and appeal of the UAE's energy sector, as well as the trust NMDC places in Emdad's market position. As we join forces through this compelling partnership and integrate with the broader NMDC platform, we are confident of embarking on a new phase of growth. Together, we will unlock deeper value for our customers and work towards our shared vision for sustainable success.'
This transaction marks a further step in NMDC's strategy to create long-term value, strengthen its regional presence, and drive revenue growth. It reflects NMDC Group's broader ambitions for expansion and diversification, paving the way for future innovation and industry leadership in the energy sector.
Source: Aletihad - Abu Dhabi
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