NMDC LTS completes its acquisition on a 70% stake in the company "Supply"
Abu Dhabi, June 4/ WAM/ I announced that MDC Group, today, that the fully affiliated to the NTS company, has completed its acquisition of 70% of the capital and voting rights of the “Eddad” company, the integrated integrated services provider in the oil, gas, facilities and industry sectors. The deal was funded by the company’s capital and banks.
This strategic acquisition enables the NMDC Group group to expand in sectors with repeated revenue “Opex” in oil fields services, which enhances the diversity of its investment portfolio and strengthens its competitiveness.
In parallel, this acquisition of the NMDC Group will provide a wider range of services and additional paths for revenue growth, as “Emdad” offers extend to a group of different services, including well maintenance, waste management, closure/comprehensive repair, wrapped tubes, valves, and other services.
Emdad recorded revenues exceeding 600 million dirhams in 2024, and property rights reached 217 million dirhams.
Engineer Yasser Zaghloul, CEO of NMDC Group, expressed pride in completing this strategic acquisition, which culminates in the beginning of a new stage for both institutions, as “Emdad” is unique to its leadership in the industrial sector while enjoying distinguished capabilities and extensive experiences in the sector.
He added that this deal contributes to enhancing the diversity of the company’s business and supports its ability to provide broader services and create an additional value, as well as pay the sustainable growth wheel for its customers, partners and various parties concerned with its work within the dynamic energy scene.
For his part, Mohamed Jumaa Al -Bawardi, CEO of supply, said that this ambitious deal confirms the development and attractiveness of the energy sector in the UAE, and the high confidence that the NMDC Group group puts in the ‘Emdad’ company for its position as a pioneering provider of services in this vital sector, indicating that this cooperation will be launched for customers and will help achieve common goals of promoting sustainable success.
The completion of the acquisition deal falls within the NMDC Group strategy to enhance its ability to add tangible value, consolidate its regional presence, support revenue growth, and a new station is also crowned in the expansion march that the group goes on to serve the goals of diversifying its business, and paves the way to launch more innovations in the future and consolidate its leadership in the energy sector.
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