Chennai: SEPC Limited (NSE: SEPC, BSE: 532945) a leading EPC solutions provider, today announced that its Board of Directors has approved the acquisition of a 90% equity stake in Avenir International Engineers and Consultants LLC, Abu Dhabi.
This acquisition marks a significant strategic milestone in SEPC’s journey to expand its global footprint and strengthen its presence in the high-growth Oil & Gas engineering sector, particularly across the Middle East and North Africa (MENA) region.
Strategic Rationale and Growth Outlook
Avenir International Engineers and Consultants LLC is a well-established engineering services company specializing in Oil & Gas Engineering, Front-End Engineering Design (FEED), and Project Management Consultancy (PMC). With a strong presence in the MENA region and a robust order book of approximately AED 500 million, Avenir brings deep domain expertise and established client relationships with leading entities such as ADNOC and DEWA.
The acquisition is expected to:
- Enable SEPC’s entry into the global Oil & Gas EPC and consulting ecosystem
- Strengthen its international execution capabilities and geographic diversification
- Provide access to high-margin, technology-driven engineering services
- Create a scalable platform for growth in the MENA region
- Enhance long-term value creation through synergies in engineering, procurement, and project
execution
Transaction Details
- Stake Acquired: 90% in Avenir International Engineers and Consultants LLC
- Consideration: Share swap arrangement
- Valuation: ~90% of AED 708 million (~INR 1,530 crore)
- Timeline: Expected completion within six months, subject to Lenders and shareholders’ approval
The transaction is being undertaken at arm’s length, and no promoter or group company has any interest in the target entity.
About Avenir International Engineers and Consultants LLC
Founded in 2007 and headquartered in Abu Dhabi, Avenir is a reputed engineering consultancy firm delivering efficient and cost-effective solutions aligned with sustainability and Net Zero objectives.
Financial Performance:
- FY24 Revenue: AED 73.93 million (~INR 171.89 crore)
- FY23 Revenue: AED 69.17 million (~INR 156.73 crore)
- FY22 Revenue: AED 31.91 million (~INR 71.92 crore)
The company holds multiple certifications including ISO 9001, ISO 14001, and ISO 45001, and is an ADNOC-approved vendor, underscoring its strong credibility in the region.
