Latest news with #KuiperGroup
Business Standard
21-04-2025
- Business
- Business Standard
Asian Energy acquires 100% stake in Kuiper Group for $9.25 million
Asian Energy Services said that it has acquired 100% stake in UAE-based Kuiper Group from Gulf Capital (a marquee private equity fund), for a consideration of $9.25 million in an all-cash deal. The acquisition is expected to be completed within the next two months, following which Asian Energy will acquire Kuiper Group along with its global management team and normalized working capital. The acquisition will be funded through a combination of internal accruals and debt. Kuiper Group is a globally recognized provider of comprehensive and integrated manpower solutions, specifically tailored for the energy sector across the Middle East and Southeast Asia. The Kuiper Group has recorded revenue of $68 million in year ending December 2024 and is a profitable business. The acquisition of Kuiper Group is a strategic initiative by Asian Energy Services to expand its services offering of integrated operations and maintenance (O&M) across the Middle East and Southeast Asian countries leveraging Kuipers presence. Kuiper has well-established presence in energy-rich nations such as Saudi Arabia, Qatar and the UAE. This positions Asian Energy Services to scale its operations, access this larger addressable market, and support its long-term growth ambitions. Kapil Garg, managing director, Asian Energy Services, said: The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Groups strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated O&M services offering. We also aim to support and grow Kuipers existing business. Asian Energy Services (AESL) offers end-to-end services which extend across the entire upstream value chain. AESLs service offerings comprises integrated oil & gas services including 2D and 3D seismic geographical data acquisition, operations and maintenance of onshore and offshore oil and gas production facilities, production enhancement services and mining services including supply and installation of material handling plants and rapid loading systems. The scrip fell 1.48% to currently trade at Rs 316.70 on the BSE.
Web Release
21-04-2025
- Business
- Web Release
Gulf Capital Announces Its Full Exit from its O&G logistics platform, Kuiper Group, through a Strategic Sale to India-listed Asian Energy Services
By Editor_wr On Apr 21, 2025 Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, announced today its full exit from Kuiper Group, in a strategic sale transaction to Asian Energy Services, an Indian company listed on the Bombay Stock Exchange and the National Stock Exchange of India Ltd. The transaction comes on the heels of the previous successful sale of Kuiper's Australian operation in a carve-out management buyout in Q3 last year. Asian Energy Services Limited, which is an Indian leading integrated service provider to the energy and mining sectors, acquired 100% stake in Kuiper Group, from both Gulf Capital and the founders of Kuiper and OCB Oilfield Services. The acquisition, which will be funded through a combination of internal accruals and debt, is expected to be completed within the next two months. Upon the initial acquisition of the leading Dubai-based Oil & Gas offshore crew provider, OCB Oilfield Services, Gulf Capital worked closely with the management team to expand across the fast growing Asian markets. This led to the acquisition of Singapore-based Kuiper International, a dominant player in the offshore construction and maintenance services sector. Gulf Capital has developed a long track record of building pan-Asian leaders through a mix of bolt-on acquisitions and organic growth. Richard Dallas, Senior Managing Director at Gulf Capital, said: 'We built in Kuiper Group a leading international energy business services platform, together with the management team. Kuiper Group has become a global leader and has presence today in more than 15 Asian, Middle Eastern, and African countries. This offers the new strategic buyer, Asian Energy Services, the opportunity to scale its operations, access a larger addressable market, and support its long-term growth plans.' During Gulf Capital's holding period, Kuiper Group has implemented a growth programme which focused on significant diversification in customer base, service capabilities, and geographical coverage. The Kuiper Group has recorded revenue of approximately US$ 68 million in year ending December 2024 and is a profitable business, further strengthening the strategic value of the acquisition. Commenting on this, Mr Kapil Garg, Managing Director, Asian Energy Services Limited said, 'The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services' journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Group's strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated O&M services offering. We also aim to support and grow Kuiper's existing business. I warmly welcome Kuiper's management team and employees to the Asian Energy family and look forward to working together following the completion of the acquisition.' Alvaro Abella, Managing Director at Gulf Capital, said: 'The exit to Asian Energy Services will support Kuiper in solidifying its position across the 15 markets where it operates and further afield. During our holding period, we have managed to grow the topline significantly and double the geographic footprint. Now, Kuiper, in partnership with Asian Energy Services, is poised for further growth and success.' Simon Cooper, Finance Operating Partner at Gulf Capital, concluded: 'We are proud of the transformation and growth Kuiper has undergone during our investment period—from a regional manpower provider to a highly-scalable, global operator with robust governance and commercial discipline. This transaction with Asian Energy Services represents a strategic fit that unlocks long-term potential for Kuiper's management team and their global client base. It also reflects Gulf Capital's ability to identify, grow, and exit high-quality platforms in the energy services space through hands-on value creation, internationalisation and disciplined execution.' Comments are closed.
Zawya
21-04-2025
- Business
- Zawya
Gulf Capital exits Kuiper Group via sale to India's Asian Energy Services
Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, has announced its full exit from Kuiper Group, in a strategic sale transaction to India-based Asian Energy Services. The transaction comes on the heels of the previous successful sale of Kuiper's Australian operation in a carve-out management buyout in Q3 last year. Asian Energy Services, a leading Indian integrated service provider to the energy and mining sectors, acquired 100% stake in Kuiper Group, from both Gulf Capital and the founders of Kuiper and OCB Oilfield Services. The acquisition, which will be funded through a combination of internal accruals and debt, is expected to be completed within the next two months, said a statement. Upon the initial acquisition of the leading Dubai-based Oil & Gas offshore crew provider, OCB Oilfield Services, Gulf Capital worked closely with the management team to expand across the fast growing Asian markets. This led to the acquisition of Singapore-based Kuiper International, a dominant player in the offshore construction and maintenance services sector. Gulf Capital has developed a long track record of building pan-Asian leaders through a mix of bolt-on acquisitions and organic growth. Richard Dallas, Senior Managing Director at Gulf Capital, said: 'We built in Kuiper Group a leading international energy business services platform, together with the management team. Kuiper Group has become a global leader and has presence today in more than 15 Asian, Middle Eastern, and African countries. This offers the new strategic buyer, Asian Energy Services, the opportunity to scale its operations, access a larger addressable market, and support its long-term growth plans.' Kapil Garg, Managing Director, Asian Energy Services Limited, said: 'The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services' journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Group's strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated O&M services offering. We also aim to support and grow Kuiper's existing business. I warmly welcome Kuiper's management team and employees to the Asian Energy family and look forward to working together following the completion of the acquisition." – TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
21-04-2025
- Business
- Trade Arabia
Gulf Capital exits Kuiper Group via sale to India's Asian Energy Services
Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, has announced its full exit from Kuiper Group, in a strategic sale transaction to India-based Asian Energy Services. The transaction comes on the heels of the previous successful sale of Kuiper's Australian operation in a carve-out management buyout in Q3 last year. Asian Energy Services, a leading Indian integrated service provider to the energy and mining sectors, acquired 100% stake in Kuiper Group, from both Gulf Capital and the founders of Kuiper and OCB Oilfield Services. The acquisition, which will be funded through a combination of internal accruals and debt, is expected to be completed within the next two months, said a statement. Upon the initial acquisition of the leading Dubai-based Oil & Gas offshore crew provider, OCB Oilfield Services, Gulf Capital worked closely with the management team to expand across the fast growing Asian markets. This led to the acquisition of Singapore-based Kuiper International, a dominant player in the offshore construction and maintenance services sector. Gulf Capital has developed a long track record of building pan-Asian leaders through a mix of bolt-on acquisitions and organic growth. Richard Dallas, Senior Managing Director at Gulf Capital, said: 'We built in Kuiper Group a leading international energy business services platform, together with the management team. Kuiper Group has become a global leader and has presence today in more than 15 Asian, Middle Eastern, and African countries. This offers the new strategic buyer, Asian Energy Services, the opportunity to scale its operations, access a larger addressable market, and support its long-term growth plans.' Kapil Garg, Managing Director, Asian Energy Services Limited, said: 'The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services' journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Group's strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated O&M services offering. We also aim to support and grow Kuiper's existing business. I warmly welcome Kuiper's management team and employees to the Asian Energy family and look forward to working together following the completion of the acquisition." –
Al Bawaba
21-04-2025
- Business
- Al Bawaba
Gulf Capital Announces Its Full Exit from its oil and gas logistics platform, Kuiper Group, through a Strategic Sale to India-listed Asian Energy Services
Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, announced today its full exit from Kuiper Group, in a strategic sale transaction to Asian Energy Services, an Indian company listed on the Bombay Stock Exchange and the National Stock Exchange of India Ltd. The transaction comes on the heels of the previous successful sale of Kuiper's Australian operation in a carve-out management buyout in Q3 last Energy Services Limited, which is an Indian leading integrated service provider to the energy and mining sectors, acquired 100% stake in Kuiper Group, from both Gulf Capital and the founders of Kuiper and OCB Oilfield Services. The acquisition, which will be funded through a combination of internal accruals and debt, is expected to be completed within the next two months. Upon the initial acquisition of the leading Dubai-based Oil & Gas offshore crew provider, OCB Oilfield Services, Gulf Capital worked closely with the management team to expand across the fast growing Asian markets. This led to the acquisition of Singapore-based Kuiper International, a dominant player in the offshore construction and maintenance services sector. Gulf Capital has developed a long track record of building pan-Asian leaders through a mix of bolt-on acquisitions and organic Dallas, Senior Managing Director at Gulf Capital, said: 'We built in Kuiper Group a leading international energy business services platform, together with the management team. Kuiper Group has become a global leader and has presence today in more than 15 Asian, Middle Eastern, and African countries. This offers the new strategic buyer, Asian Energy Services, the opportunity to scale its operations, access a larger addressable market, and support its long-term growth plans.'During Gulf Capital's holding period, Kuiper Group has implemented a growth programme which focused on significant diversification in customer base, service capabilities, and geographical coverage. The Kuiper Group has recorded revenue of approximately US$ 68 million in year ending December 2024 and is a profitable business, further strengthening the strategic value of the on this, Mr Kapil Garg, Managing Director, Asian Energy Services Limited said, 'The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services' journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Group's strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated O&M services offering. We also aim to support and grow Kuiper's existing business. I warmly welcome Kuiper's management team and employees to the Asian Energy family and look forward to working together following the completion of the acquisition."Alvaro Abella, Managing Director at Gulf Capital, said: 'The exit to Asian Energy Services will support Kuiper in solidifying its position across the 15 markets where it operates and further afield. During our holding period, we have managed to grow the topline significantly and double the geographic footprint. Now, Kuiper, in partnership with Asian Energy Services, is poised for further growth and success.' Simon Cooper, Finance Operating Partner at Gulf Capital, concluded: 'We are proud of the transformation and growth Kuiper has undergone during our investment period—from a regional manpower provider to a highly-scalable, global operator with robust governance and commercial discipline. This transaction with Asian Energy Services represents a strategic fit that unlocks long-term potential for Kuiper's management team and their global client base. It also reflects Gulf Capital's ability to identify, grow, and exit high-quality platforms in the energy services space through hands-on value creation, internationalisation and disciplined execution.'
