SEPC Acquires 90% Stake in Avenir for AED 708 Million
Filing Summary
SEPC Limited has announced the acquisition of a 90% equity stake in Avenir International Engineers and Consultants LLC, Abu Dhabi. The transaction, valued at approximately AED 708 million, will be executed through a share swap arrangement. Avenir, with a robust order book of AED 500 million, specializes in Oil & Gas Engineering and Project Management Consultancy. The acquisition is expected to be completed within six months, pending necessary approvals. This move marks SEPC’s strategic entry into the MENA region’s Oil & Gas sector, enhancing its global presence.
SEPC Limited has announced the acquisition of a 90% equity stake in Avenir International Engineers and Consultants LLC, based in Abu Dhabi. This acquisition is part of SEPC’s strategy to expand its global footprint and strengthen its presence in the Oil & Gas engineering sector, particularly in the Middle East and North Africa (MENA) region.
The transaction involves a share swap arrangement, with the valuation of the 90% stake in Avenir set at approximately AED 708 million, equivalent to around INR 1,530 crore. Avenir’s financial performance includes a revenue of AED 73.93 million for FY24, AED 69.17 million for FY23, and AED 31.91 million for FY22. The acquisition is structured to be completed within six months, subject to approval from lenders and shareholders.
Avenir International Engineers and Consultants LLC is an established engineering services company specializing in Oil & Gas Engineering, Front-End Engineering Design (FEED), and Project Management Consultancy (PMC). The company has a strong presence in the MENA region and maintains a robust order book of approximately AED 500 million. Avenir’s client base includes leading entities such as ADNOC and DEWA, and the company holds multiple certifications, including ISO 9001, ISO 14001, and ISO 45001.
The acquisition enables SEPC to enter the global Oil & Gas EPC and consulting ecosystem, enhancing its international execution capabilities and geographic diversification. It provides access to high-margin, technology-driven engineering services and creates a scalable platform for growth in the MENA region. The transaction is conducted at arm’s length, with no promoter or group company interest in the target entity.
The expected timeline for the completion of this acquisition is within six months, contingent upon receiving the necessary approvals from lenders and shareholders. This strategic move aligns with SEPC’s long-term vision of building a globally competitive engineering platform with a balanced portfolio across geographies and sectors.
Avenir International Engineers and Consultants LLC is a reputed engineering consultancy firm delivering efficient and cost-effective solutions aligned with sustainability and Net Zero objectives. The company is an ADNOC-approved vendor, underscoring its strong credibility in the region.
SEPC Limited is a well-established EPC company offering turnkey solutions across Water & Wastewater, Roads, Industrial Infrastructure, and Mining sectors. The company specializes in the design, procurement, construction, and commissioning of large and complex infrastructure projects across India, serving a wide range of clients, including Central and State Government agencies.