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Gulf Capital Invests in Majority Stake in OCB

Source: 2/13/2013, Location: Middle East

Gulf Capital, one of the leading and most active private equity firms in the Middle East, announced that it has invested in a significant majority stake of OCB Oilfield Services FZCO(OCB), the leading Oil & Gas crew supply and related logistics provider in the Middle East, South East Asia and Africa. OCB is specialised in supplying rig crews to offshore Oil & Gas drilling companies. This latest investment is part of Gulf Capital's increasing focus on the offshore oil and gas industry, a fast growing sector where it is actively involved.

Commenting on the successful investment, Dr. Karim El Solh, Chief Executive Officer of Gulf Capital said: "This strategic acquisition in an Oil & Gas services market leader, with significant prospects for growth organically and in new markets, is in line with Gulf Capital's strategy of investing in market leaders in defensive and fast growing sectors in the region. OCB is the number one company when it comes to this niche market of outsourcing crew and providing logistics services to Oil & Gas drilling companies in the Middle East, South East Asia and Africa. It has grown rapidly in recent years, with an impressive list of clients. Its upward trend is expected to continue as offshore Oil & Gas drilling activities increase significantly in the future."

With operations in the UAE, India, Indonesia, Saudi Arabia, Qatar, Thailand, Brunei, Singapore, Mozambique and Cameroon, OCB provides its clients with fully outsourced human resource solutions, including hiring and managing all personnel on a rig, managing payroll, performing medical check ups, providing training, supplying working gear, obtaining work permits, travel visas, insurance, organising air travel and other logistical services.

Mr. Vaibhav Kanade, Founder and CEO of OCB, said: "I am excited at the prospects of the new partnership with Gulf Capital. As OCB embarks on an aggressive regional expansion, the funding and support of Gulf Capital will be instrumental in helping us achieve our ambitious regional growth plans. I look forward to Gulf Capital's active participation on our Board and to its contribution to the company's strategy, operational improvements, financing and regional expansion. Gulf Capital's investment in OCB is a strong demonstration of the firm's confidence in our operation, strategy and our future growth plans."

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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