Abu Dhabi – Mubasher: Enersol, a joint-venture (JV) between ADNOC Drilling Company and Alpha Dhabi Holding, has acquired a 51% equity stake in NTS AMEGA for $58 million.
The NTS acquisition aligns with Enersol’s strategy to become a technology-centric investment platform in oilfield services, aiming to enhance market value and operational efficiencies, according to a press release.
This acquisition is Enersol’s second recent transaction, following a 67.20% stake acquisition in Gordon Technologies.
The deal is subject to regulatory approvals and closing adjustments.
In October 2023, Alpha Dhabi acquired a 51% equity stake in NTS AMEGA, a global provider of advanced manufacturing and tool repair solutions for the oil and gas sector.
NTS is a leading global provider of advanced manufacturing, complex tool repair, and rental solutions for the oil and gas sector headquartered in the UAE with support hubs in the US, Canada, Saudi Arabia, Singapore, and Norway.
The company reported strong financials for 2023 with revenue exceeding $120 million.
It is noteworthy that ADNOC Drilling reported a net profit of $274.61 million in the first quarter (Q1) of 2024, compared to $218.68 million in Q1-23.
Alpha Dhabi’s net profit declined to AED 4.59 billion in Q1-24 from AED 7.31 billion in the corresponding period a year earlier.
