December 4, 2023
Business Corporate

Energy Capital Group completes MENAISCO acquisition

Saudi Arabia-based investment company Energy Capital Group (ECG) has announced the completion of the acquisition of MENA Industrial Services Company (MENAISCO), a technical and engineering services company headquartered in Saudi Arabia.

With a track record of over 40 years of delivering engineering services in the oil and gas, power and water, and petrochemicals sectors in the Middle East and North Africa (MENA) region, MENAISCO has completed over 80+ projects to date, providing project staffing, engineering and field technical services.

The company provides these services to semi-governmental organisations and multinational conglomerates across a broad spectrum of industries in the MENA.

Energy Capital Group’s investment in the leading technical and engineering services company marks a significant step forward in its evolution as a leading provider of industrial services solutions focused on serving regional needs across the energy sector.

Ali Alturki, Founder and Managing Partner of Energy Capital Group, said: “The acquisition of Menaisco by ECG2.0 – Fund 2 is a great addition to the fund’s Industrial National Champion Program and is a great step towards realising its ambitious goals.”

ECG has partnered with some of the most respected industrial service providers in the region and is committed to providing reliable, cost-effective solutions to its customers.

The Fund is poised to become a major player in the industrial services sector and is well-positioned to capitalise on the growing demand for specialised services.

Last Updated on 2 months by Arnold Pinto

Middle East News 247

Middle East News 247

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