Alpha Dhabi acquires 25% of Gordon Technologies for Dh602 million

The transaction closely aligns with Alpha Dhabi’s long-term investment and expansion strategy to expand into international markets and diversify its growing portfolio



Hamad Salem Al Ameri, chief executive officer and managing director of Alpha Dhabi, said this transaction reaffirms our strong commitment to growing and driving value across our portfolio through investment in innovation and technology, a core tenet of our growth strategy at Alpha Dhabi.
Hamad Salem Al Ameri, chief executive officer and managing director of Alpha Dhabi, said this transaction reaffirms our strong commitment to growing and driving value across our portfolio through investment in innovation and technology, a core tenet of our growth strategy at Alpha Dhabi.
by

A Staff Reporter

Published: Wed 2 Nov 2022, 5:26 PM

Alpha Dhabi Holding on Wednesday announced the acquisition of a 25 per cent stake in Gordon Technologies for Dh602 million.

In a statement, the fastest-growing investment holding companies in the UAE listed on the Abu Dhabi Securities Exchange said Chimera Capital acted as sole financial advisor on the transaction.

Founded in 2014, Gordon Technologies is majority owned by private equity firm Pelican Energy Partners and its management team – including the founder – who will remain as part of the company post transaction which will see Alpha Dhabi acquire its stake on a proportional basis from the existing shareholders.

Hamad Salem Al Ameri, chief executive officer and managing director of Alpha Dhabi, said this transaction reaffirms our strong commitment to growing and driving value across our portfolio through investment in innovation and technology, a core tenet of our growth strategy at Alpha Dhabi.

"We continually look at investments in disruptive and new technologies and by partnering with a market leader such as Gordon Technologies, we aim to accelerate our growth in this space while also complementing our energy portfolio, which we continue to scale and diversify across different markets and geographies,” he said.

The transaction closely aligns with Alpha Dhabi’s long-term investment and expansion strategy to expand into international markets and diversify its growing portfolio across its core and complementary verticals in order to achieve growth and deliver strong returns.

Alpha Dhabi will support Gordon Technologies in its geographic expansion plans with one key focus being the Middle East market as it looks to build on the strong performance and track record of growth that the existing ownership team have witnessed to date.

“We have experienced significant growth and have a strong track record of delivering outstanding services across the United States, and we look forward to working with Alpha Dhabi to catalyse our growth further and expand internationally into the Middle East market which represents a great opportunity to generate further value as we grow and provide our proprietary technology services to what is one of the core oil and gas markets globally," Terry Frith, chief executive officer of Gordon Technologies, said.

Gordon Technologies is a leading provider of MWD technology to the oil and gas industry. Gordon’s proprietary technology creates a faster, more robust and more reliable MWD system that is achieving best-in-class performance, as evidenced by the company’s significant growth in the US unconventional market.

— muzaffarrizvi@khaleejtimes.com


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