Aujan is a key step in ECG’s portfolio to create national champions in energy and energy-related technologies in line with Vision 2030 and the iktva programme, says Ali Alturki

Energy Capital Group (ECG) continues to invest in reliable industrial and technology businesses across the energy sector in line with Saudi’s Vision 2030 and Aramco’s In-Kingdom Total Value Add (iktva) programme.

Last month, the Saudi Arabia-based investment group, completed the successful acquisition of Aujan Industrial Supplies and Services (AIS), a leading provider of solutions to the oil and gas, petrochemical, metals and mining and water markets.

This marks the fourth investment of the company’s ECG2.0 Fund-II, which announced a first close in Q3 2023. The fund plans a further five investments in 2024.

AIS brings 30 years of experience and expertise in delivering solutions to the oil and gas, petrochemical, metals and mining, power, and water markets.

The company is a channel to market for the strongest global brands focused on safety and reliability including MSA, BH, Rotating Machinery Services, Honeywell and 3M.

The end goal for ECG is to invest in businesses that can capitalise on the significant investment going into regionally relevant value chains and driving the need for technology-based services and turnkey solutions across the industrial supply chain.

It aims to strengthen current supply market constraints to the energy and industrial value chain and asset base to further the industrial growth of Saudi Arabia and the wider GCC.

Accordingly, the acquisition of AIS is an important part of ECG’s investment strategy, providing a powerful growth platform to further build the industrial services and solutions champion.

ECG plans to grow the business significantly through strategic expansion of existing business lines into new segments and geographies, and integrating the AIS business into to the ECG portfolio, building on synergies and adjacencies and driving operating leverage.

The company's focus on technology deployment through localised services and solutions along with its diversified revenue sources, will enable it to achieve significant revenue growth and become a leading player in the industrial services and solutions market.