Asian Energy Services Limited announces the completion of its acquisition of Kuiper Group, a UAE-based provider of integrated manpower solutions for the energy sector.
On April 18, 2025, Asian Energy Services Limited confirmed the completion of its acquisition of Kuiper Group, a leading provider of integrated manpower solutions in the energy sector. The acquisition, valued at USD 9.25 million, will be funded through internal accruals and debt.
The acquisition covers 100% of the shares in Kuiper Holdings Limited and Kuiper Group Limited, which will now become wholly-owned subsidiaries of Asian Energy Services Limited.
Commenting on the acquisition, Mr. Kapil Garg, Managing Director, Asian Energy Services Limited, said: "The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services' journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Group's strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated operations and maintenance (O&M) services offering. We also aim to support and grow Kuiper's existing business. I warmly welcome Kuiper's management team and employees to the Asian Energy family and look forward to working together following the completion of the acquisition."
Impact of the acquisition on Asian Energy Services' growth
The acquisition of Kuiper Group marks a pivotal step in Asian Energy Services' strategy to expand its global footprint in the energy sector. By leveraging Kuiper's strong presence in the Middle East and Southeast Asia, including energy-rich countries such as Saudi Arabia, Qatar, and the United Arab Emirates (UAE), the acquisition will enable Asian Energy to offer enhanced O&M services in these regions. The deal aligns with the company's long-term plan to strengthen its market position and participate more actively in global energy projects.
Asian Energy Services' evolving business model
Asian Energy Services is known for its diverse range of services in the oilfield and reservoir imaging sectors. The company's operations span the upstream oil and gas value chain, with a focus on seismic services, oil and gas production, and O&M solutions.
The acquisition of Kuiper Group enhances the company's integrated service offerings and positions it for future growth, particularly in the Middle East and Southeast Asia.
In FY24, the company's Oil and Gas segment accounted for 58% of its revenue, while the Mining Services segment saw significant growth, increasing by 65% from FY22 to FY24. Asian Energy Services is shifting its focus from cyclical to stable business models, aiming for long-term contracts and expanding its order book, which stood at ₹1,150 crores as of December 2024.
Future prospects and market growth
As of 10:57 AM on April 21, 2025, the shares of Asian Energy Services Limited are trading at ₹317.70, down by 1.17% from the last close on the Bombay Stock Exchange (BSE). The company's focus on expanding its energy infrastructure and ramping up production is expected to drive further growth, especially with new production enhancement contracts and increased operational efficiencies.
The acquisition of Kuiper Group positions Asian Energy Services Limited to tap into high-demand energy markets in the Middle East and Southeast Asia. With Kuiper Group's established presence in these regions, the acquisition is set to enhance the company's service offerings and contribute to its long-term growth strategy. Investors and stakeholders can look forward to expanding opportunities as the company continues to broaden its international operations.
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