Actuant Corporation announced today that it has acquired the business and assets of the Middle East, Caspian and North Africa division of privately owned Canadian-based FourQuest Energy Inc for approximately $60 million. Based in Dubai, UAE, FourQuest MENAC maintains a leading position in the provision of pipeline and process services across the Caspian, the Middle East and the North Africa regions. It provides a full range of industrial services and equipment from engineering, chemical cleaning, hydro-testing, oil flushing, air / steam blowing, nitrogen / helium leak testing services and full pipeline pre-commissioning services. Calendar 2015 revenues were approximately $25 million.
‘FourQuest MENAC’s services are highly complementary to our existing Hydratight offering and this acquisition enhances our position as a leader of integrity and maintenance services in the energy space ‘ one of Actuant’s four macro growth markets,’ said Brian Kobylinski, Executive Vice President, Energy Segment & China. “The ability to provide a bundled offering of maintenance capabilities will allow us to deliver enhanced value to our customers, along with the ability to globalize FourQuest MENAC’s service offering throughout Hydratight’s footprint With an expanded pool of highly trained technicians, we expect this service line will generate meaningful growth over time.’
Introducing an essential new addition to MEA Market’s roster of awards, the inaugural Middle East CEO of the Year Awards 2023!
Visit our awards hereMEA Markets is excited to announce that the prestigious MEA Business Awards will be returning to our platform once again in 2024! This ever-popular programme is now entering its eighth consecutive year, and with each iteration we strive to make the latest version even better than the last!
Visit our awards hereMEA Markets is excited to announce that we are set to host the UAE Business Awards for an eighth consecutive year! The 2024 programme will look to recognise the top performing companies across the various key sectors that make up the UAE’s diverse and evolving industry market.
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