Riyadh, Saudi Arabia: Saudi Arabia-based investment company Energy Capital Group (ECG) has announced the completion of the successful acquisition of MENA Industrial Services Company (MENAISCO), a technical and engineering services company headquartered in KSA.
With a track record of over 40 years of delivering engineering services in oil and gas, power and water, and petrochemicals sector in the Middle East and North Africa (MENA) region, MENAISCO has successfully completed over 80+ projects till date, providing project staffing, engineering and field technical services. The company provides these services to semi-governmental organisations and multinational conglomerates from 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.
About Energy Capital Group (ECG):
Energy Capital Group (ECG) was founded in 2008 by Ali Abdulaziz Alturki and Co-GP's comprising prominent industrial and financial sector leaders who closed over USD5B of local and international transactions. In 2021, ECG launched its latest fund after merging with Cayan Holdings (Akram Alrabayah, Co-GP) and Watar Partners (Abdulwahab Al Betairi, Co-GP) as the strategic advisor. The ECG team has a solid track record in building key strategic partnerships with local and global service providers. With significant investments in Saudi Arabia and internationally, ECG is supported by experienced operating partners in the sector and a network of experienced and successful leaders in the energy space.
About MENA Industrial Services Company (MENAISCO):
Middle East and North Africa Industrial Services Company (MENAISCO) is a privately held, multi-business group providing Engineering and Technical Services for over 40 years in the oil & gas, power & water, petrochemicals sector and energy sector. A pioneer firm headquartered in Saudi Arabia, in business since 1965, MENAISCO brings a track record of successful completion of projects focused within the Middle East and North Africa region with extended services