Bahrain-based Investcorps unit acquires Kuwaits Intrex for undisclosed amount

Mubasher: NDT Corrosion Control Services Co (NDT CCS), a subsidiary of Bahrain-based private equity firm Investcorp, on Monday announced it has acquired International Inspection Center Co (Intrex), the largest provider of industrial non-destructive testing and inspection services in Kuwait, for an undisclosed amount.

In July 2015, Investcorp, a global provider and manager of alternative investment products, had acquired a majority stake in NDT CCS from the Al Shuwayer Group, NDT CCS said in a statement.

NDT CCS has cemented its position in the GCC states by implementing organic and inorganic growth strategy, the statement added.

The acquisition of Intrex bolsters NDT CCS’s business growth in Kuwait, according to the statement.

Walid Majdalani, head of private equity MENA and managing director at Investcorp, said: “This acquisition is part of Investcorp’s wider strategy in the region of continuously looking for attractive investment opportunities as part of expanding its assets under management and to target companies that are set to outperform in industries underpinned by solid growth drivers.”

Following the merger, NDT CCS will have the largest technician base with around 2,800 employees across the GCC and over 100 corporate clients including major asset owners and contractors.