Oslo stock exchange listed Aker Solutions announced today (21 May 2012) that it agreed to acquire NPS Energy, part of oilfield services company National Petroleum Services. Emirates Investment Bank acted as Financial Advisor to the sellers on this deal that is valued at US$ 460 million.
NPS Energy’s core offerings are well intervention and onshore drilling services. Headquartered in Dubai with a strong local presence in the Middle East and North Africa, NPS Energy represents a platform from which Aker Solutions will be able to provide its broad portfolio of technology and services to the oil and gas industry in the region.
“We are very proud of the role our bank played in assisting the parties to reach agreement on the terms of this significant transaction. Our team of professionals worked diligently and effectively with all stakeholders for several months to arrive at this admirable result” said Khaled Sifri, CEO of Emirates Investment Bank.
Husam Kutaifan, Managing Director of Investment Banking at Emirates Investment Bank, said: “Successful transactions are those that represent a win-win proposition
for all parties involved. This deal was founded on the conviction that NPS Energy is
well positioned to deliver to Aker Solutions the footprint, established customer base and strong management team needed to expand its offering in our region.”
Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. It employs approximately 23,500 people in more
than 30 countries. In 2011, Aker Solutions had aggregated annual revenues of approximately USD 6.5 billion.