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 proud to announce the return of the MEA Business Awards 2023, which stands as a testament to the remarkable achievements of businesses spanning the Middle East and Africa region! This prestigious awards programme returns for its seventh year and aims to recognize and laud outstanding performers across a spectrum of industries, encompassing finance, technology, energy, healthcare, and more. Through this platform, excellence, innovation, and exemplary leadership are brought to the forefront.
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.
Visit our awards hereWe have packages to suit everyone. Let us help work out which one would suit your needs!