Investcorp's portfolio company NDT CCS acquires Kuwait's International Inspection Center

International Inspection Center Co. is Kuwait's largest provider of industrial non-destructive testing and inspection services

Walid Majdalani - Head of Private Equity MENA at Investcorp

Walid Majdalani - Head of Private Equity MENA at Investcorp

Bahrain: Investcorp‘s portfolio company NDT Corrosion Control Services Co. (“NDT CCS”) or (the “Company”), today announced the acquisition of International Inspection Center Co. (“Intrex”), Kuwait’s largest provider of industrial non-destructive testing (“NDT”) and inspection services.

Investcorp acquired a majority stake in NDT CCS in July 2015 from the Al Shuwayer Group. NDT CCS is an essential testing and inspection service provider for the industrial sector namely oil and gas and petrochemical industry. Under Investcorp’s ownership, NDT CCS has become a leading pan-GCC player through implementation of organic and inorganic growth strategy. 

The acquisition of Intrex further boosts NDT CCS’s growth in Kuwait. Following integration of Intrex, NDT CCS will have the largest technician base with approximately 2,800 employees across the GCC and over 100 corporate clients including major asset owners and contractors.

Walid Majdalani, Head of Private Equity MENA and Managing Director at Investcorp, said, “We are very pleased to add Intrex to the NDT CCS portfolio as it will allow our portfolio company to become by far the biggest player in the region for servicing core sectors such as oil and gas. Kuwait is a very promising market for us as we see strong growth potential in the industrial servicing sector. 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.”

– Ends –

About Investcorp
Investcorp is a leading global manager of alternative investments. Led by a new vision, Investcorp has embarked on an ambitious, albeit prudent, growth strategy. The Firm continues to focus on generating value through a disciplined investment approach in four lines of business: private equity, real estate, absolute return investments and credit management.

As at December 31, 2018, the Investcorp Group had US$ 22.5 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM.

Since its inception in 1982, Investcorp has made over 185 Private Equity deals in the U.S., Europe, the Middle East and North Africa region and Asia, across a range of sectors including retail and consumer products, technology, business services and industrials, and more than 600 commercial and residential real estate investments in the US and Europe, for in excess of US $59 billion in transaction value.

Investcorp employs approximately 400 people across its offices in Bahrain, New York, London, Abu Dhabi, Riyadh, Doha, Mumbai and Singapore. For further information, including our most recent periodic financial statements, which details our assets under management, please visit:   

About NDT Corrosion Control Services (“NDT CCS”)
Established in 1975, NDT CCS is the largest non-destructive testing and inspection company in the GCC with approximately 2,800 employees operating across Saudi Arabia, Oman, Kuwait, the United Arab Emirates and Bahrain. NDT is an essential service which involves the testing and evaluation of pipes, pressure vessels, oil platforms and other key industrial components to identify flaws or defects without causing damage. NDT CCS provides conventional and advanced NDT services as well as material testing laboratory services for a range of industrial sectors including oil and gas, petrochemicals, mining, nuclear and utilities.

Media Contacts:
Firas El Amine
+973 3998 7838
Brunswick Group
Celine Aswad
+971 (4) 560 9600

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases