Actuant Reaches Agreement to Acquire FourQuest MENAC

Posted on April 1, 2016 · 1 min read

Actuant Reaches Agreement to Acquire FourQuest MENAC - Featured Image | MEA Markets
Share this article
Image

Actuant Reaches Agreement to Acquire FourQuest MENAC

Actuant Corporation announced today that it has acquired the business and assets of the Middle East, Caspian and North Africa division of privately owned Canadian-based FourQuest Energy Inc for approximately $60 million. Based in Dubai, UAE, FourQuest MENAC maintains a leading position in the provision of pipeline and process services across the Caspian, the Middle East and the North Africa regions. It provides a full range of industrial services and equipment from engineering, chemical cleaning, hydro-testing, oil flushing, air / steam blowing, nitrogen / helium leak testing services and full pipeline pre-commissioning services. Calendar 2015 revenues were approximately $25 million. 

‘FourQuest MENAC’s services are highly complementary to our existing Hydratight offering and this acquisition enhances our position as a leader of integrity and maintenance services in the energy space ‘ one of Actuant’s four macro growth markets,’ said Brian Kobylinski, Executive Vice President, Energy Segment & China. “The ability to provide a bundled offering of maintenance capabilities will allow us to deliver enhanced value to our customers, along with the ability to globalize FourQuest MENAC’s service offering throughout Hydratight’s footprint With an expanded pool of highly trained technicians, we expect this service line will generate meaningful growth over time.’


You might also like

Looking for more? Gain deeper insights with these recommended articles, selected to provide further value.

January 27, 2021 38% of Professionals Want to Move to Full-time Remote Working in the Middle East

38% of professionals in the Middle East have expressed their desire to move to full-time remote working, with a further 32% wanting at least 50% remote working this year.

January 13, 2021 Three Cybersecurity Resolutions Every Business Needs in 2021

Being able to retain customer trust has never been more important – or more difficult – following the events of 2020. With so much disarray and widespread changes to working patterns, such as the mass migration to remote working, the job of keepin...

January 20, 2017 Etihad Airways to Increase Maldives Frequency

The summer expansion will be supported by a two-class A320 aircraft operating the route, with 16 Business and 120 Economy seats. The four extra flights each week will provide more options for local passengers travelling between Abu Dhabi and Mal&#...

Join our newsletter.

Gain Access To Exclusive Content

Stay Updated With The Latest News

It's Free To Subscribe

By signing up, you agree to receive marketing emails.

Join our newsletter box - side image
Trusted by the best teams around the world