Asian Energy Services enters Global Markets with Strategic Acquisition of Kuiper Group to Offer O&M Services Internationally

Asian Energy Services Limited, a leading integrated service provider to the energy and mining sectors, has announced the acquisition of a 100% stake in Kuiper Group, UAE from Gulf Capital (a marquee private equity fund), for a consideration of US$ 9.25 million in an all-cash deal. The acquisition is expected to be completed within the next two months, following which Asian Energy will acquire Kuiper Group along with its global management team and normalized working capital. The acquisition will be funded through a combination of internal accruals and debt.

Kuiper Group is a globally recognized provider of comprehensive and integrated manpower solutions, specifically tailored for the energy sector across the Middle East and Southeast Asia. The Kuiper Group has recorded revenue of ~ US$ 68 million in year ending December 2024 and is a profitable business, further strengthening the strategic value of the acquisition.

The acquisition of Kuiper Group is a strategic initiative by Asian Energy Services to expand its services offering of integrated operations and maintenance (O&M) across the Middle East and Southeast Asian countries leveraging Kuiper's presence. Kuiper has well-established presence in energy-rich nations such as Saudi Arabia, Qatar and the UAE. This positions Asian Energy Services to scale its operations, access this larger addressable market, and support its long-term growth ambitions.

Commenting on this, Mr Kapil Garg, Managing Director, Asian Energy Services Limited said, "The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services' journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Group's strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated O&M services offering. We also aim to support and grow Kuiper's existing business. I warmly welcome Kuiper's management team and employees to the Asian Energy family and look forward to working together following the completion of the acquisition."

Shares of Asian Energy Services Ltd was last trading in BSE at Rs. 321.45 as compared to the previous close of Rs. 298.50. The total number of shares traded during the day was 10735 in over 902 trades.

The stock hit an intraday high of Rs. 325.00 and intraday low of 300.60. The net turnover during the day was Rs. 3359068.00.

Source : Equity Bulls

Keywords

AsianEnergyServices INE276G01015 Acquisition KuiperGroup UAE