NMDC LTS, the logistics and technical services arm of NMDC Group, has wrapped up the acquisition of a 70 percent stake of the share capital and voting rights in Emdad, an integrated service provider in the oil and gas, utilities, and industrial sectors.
This move enables NMDC to broaden its diverse portfolio and expand into oilfield services in the UAE. The acquisition will provide NMDC Group with a wide array of services and additional avenues for revenue growth.
Emdad’s offering cover a range of services, such as well intervention, waste management, shutdown/ turnaround, coil tubing, valves, among other services. Last year, Emdad reported revenues in excess of $163 million (AED600 million) and its equity stood at $59 million (AED217 million).
“We are happy to complete this landmark acquisition which marks the beginning of an exciting new chapter for both organizations. Emdad stands out as an industry leader with robust capabilities and deep sector expertise. By combining its strengths with NMDC’s scale and commitment to innovation, we now have a powerful platform to unlock long-term value. With diversification at its core, this integration enhances our ability to deliver broader service offerings, create greater value, and drive sustainable growth for our clients, partners, and stakeholders across the dynamic energy landscape.”
“This milestone transaction underscores the sophistication and attractiveness of the UAE’s energy sector as well as the trust that NMDC has in Emdad’s position as a leading service provider in the market. We are confident that through this compelling partnership, where we are now plugged into the wider NMDC platform, we will be able to chart an exciting new journey of growth. Ultimately, this collaboration will unlock deeper value for our customers and help us to achieve our shared goals for sustainable success,” added Mohammed Juma Al Bawardi, CEO of Emdad.
The acquisition marks a key step in NMDC’s strategy to drive value creation, support revenue growth and enhance its regional presence, while paving the way for innovation and leadership in the energy sector.
The transaction was financed through debt and equity. NMDC Group had A&O Shearman as their Legal counsel and PricewaterhouseCoopers (PwC) as their Financial Advisor. Meanwhile, Emdad shareholders had Clyde & Co as Legal counsel and KPMG Lower Gulf as Financial Advisor.
