Alpha Dhabi Invests in a 51% Stake in NTS Amega Global
Alpha Dhabi Acquires Significant Stake in NTS Amega Global on 25th October 2023.
Alpha Dhabi Holding (ADX: ALPHADHABI), one of the fastest-growing investment holding companies in the United Arab Emirates (UAE), today announced its acquisition of a 51 per cent stake in NTS Amega Global. This acquisition underscores Alpha Dhabi’s unwavering commitment to enhancing its energy portfolio, with a keen focus on the oil field services sector.
With this acquisition, NTS Amega Global, renowned for its cutting-edge manufacturing, repair, and rental solutions in the Oil & Gas sector, cements its position as a global frontrunner in the production of drilling, subsea, top-side, and process components. This encompasses the repair of Measuring and Logging While Drilling (MWD/LWD) tools and the rental of specialized Bottom Hole Assembly (BHA) drilling equipment. NTS Amega Global’s operations now extend across eleven pivotal Oil & Gas locations, including the UAE where it is headquartered, Saudi Arabia, Houston-Texas, Canada, Guyana, Norway, Singapore, Midland, and Lafayette.
Eng. Hamad Salem Al Ameri, Chief Executive Officer and Managing Director of Alpha Dhabi, commented:
“This acquisition is a clear reflection of our unwavering commitment to grow and drive value in our energy portfolio. By investing in companies that align seamlessly with our oil field services operations, we remain true to the core principles of our growth strategy. Our collaboration with industry leaders like NTS Amega Global is a strategic move to not only accelerate our growth but also to expand and diversify our presence across various markets and regions.”
NTS Amega Global was established in 2006 in the UAE with the goal of creating a global specialist manufacturing and services company for drilling tools and equipment. In 2019, NTS Amega Global was acquired by a joint venture between TUBACEX, a leader in advanced materials and solutions for a sustainable future, and ADQ. In 2020, NTS Amega Global further solidified its global presence by acquiring Amega West Services LLC from Carpenter Technology Corporation (NYSE: CRS).
Jesus Esmoris, Chief Executive Officer of TUBACEX, commented:
“Our partnership with Alpha Dhabi in NTS embodies TUBACEX’s commitment to superior performance and innovation, particularly in offering sophisticated industrial products and services from a multi-energy perspective. With the backing of Alpha Dhabi, we stand at the threshold of not only setting new benchmarks in the industry but also driving pivotal transitions toward decarbonization, with gas serving as a bridge in this energy transition”.
The acquisition comes at a pivotal time for the oilfield services market, which is expected to grow with a CAGR of 5.5% between 2022-2027. According to a recent report, the global oilfield services market size is projected to reach USD 346.45 billion by 2027.
The acquisition will support and bolster NTS Amega Global’s innovative contracting options, including Global Framework Agreements, Local Repair and Manufacture hubs, and Stock Management Programs, all designed to reduce costs, improve lead times, and increase equipment availability while maintaining the highest levels of quality and service.