We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

Bahraini investor to buy Hydrasun

Owner Equistone Partners inks sale deal with Investcorp

Article comments

Global oil and gas services firm Hydrasun will be bought by Bahrain’s Investcorp Gulf Opportunity Fund, it was announced on Tuesday.

In a statement, Hydrasun’s current private equity owners Equistone Partners said the Bahraini investment management group will acquire a controlling stake in the company but that the deal is subject to regulatory approval.

Aberdeen-based Hydrasun was founded in 1976 and has operations in the UK, Middle East, the Netherlands, Brazil, West Africa and USA and employs around 600 people. Equistone Partners acquired the company in 2007 for £75 million. However, the purchase amount paid by Investcorp was not revealed.

Hydrasun has reported revenues in the current financial year of just over £105 million. Investcorp's president for Gulf business Mohammed Al-Shroogi said they were acquiring a leading company in a resilient and rapidly growing segment of the oil and gas sector.

"We believe that Hydrasun is well positioned to continue its growth as it is a leader in its target market with strong client relationships, a unique service offering, experienced managers and a successful business model of local presence and export-led internationalisation,” he added.



Bahraini investor to buy Hydrasun
Financial Planning

Budget: What business wants

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..

Card Factory planning London listing

Share float could see company valued close to £1 billionmore ..

Unilever reports Q1 sales growth of 3.6%

However, consumer product giant’s turnover hit by 8.9% negative currency impactmore ..

Spirent posts 16% rise in Q1 revenue

Networks testing firm benefiting from 4G rollout in Chinamore ..

Stay ahead of the curve

CFOs used to low interest rates ignore working capital optimisation at their perilmore ..

Digital streamlining of travel and expense claims [Part II]

Concur shows CFOs how to make life easier when the auditors come knockingmore ..

Send to a friend

Email this article to a friend or colleague:

PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.

In Depth
Do you have what it takes to become a non-executive?

Do you have what it takes to become a non-executive?

The benefits of board service for CFOs more ..

In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..


* *