Riyadh - Sharikat Mubasher: Energy Capital Group (ECG), the Saudi-based investment company, completed the full acquisition of MENA Industrial Services Company (MENAISCO), a technical and engineering services company, ECG announced in a press release.
The acquisition is considered a turning point in ECG’s journey, cementing its position as a leading provider of industrial services solutions focused on serving regional needs across the energy sector.
The Founder and Managing Partner of ECG, Ali Alturki, said: “The acquisition of Menaisco by ECG2.0 - Fund 2 is a great addition to the fund’s Industrial National Champion Program and is a great step towards realising its ambitious goals.”
The portfolio of MENAISCO includes engineering services in oil and gas, power and water, and petrochemicals sector, in addition to successfully completed over 80+ projects.
Headquartered in Saudi Arabia, MENAISCO offers project staffing, engineering and field technical services to semi-governmental organizations and multinational conglomerates from across the Middle East and North Africa (MENA) region.
Meanwhile, ECG was established in 2008 with the main goal of establishing key strategic partnerships with local and global service providers.
