Asian Energy Services acquires Kuiper Group

Kuiper has a well-established presence in energy-rich nations such as Saudi Arabia, Qatar and the UAE

Asian Energy Services announced on Tuesday the acquisition of 100 per cent stake in Kuiper Group, UAE from Gulf Capital (a marquee private equity fund), for a consideration of $9.25 million in an all-cash deal.

Kuiper Group is a globally recognised provider of comprehensive and integrated manpower solutions, specifically tailored for the energy sector across the Middle East and Southeast Asia.

The acquisition is expected to be completed within the next two months, following which Asian Energy will acquire Kuiper Group along with its global management team and normalised working capital. The acquisition will be funded through a combination of internal accruals and debt, Asian Energy Services said.

Kuiper Group has recorded revenue of around $68 million in the year ending December 2024 and is a profitable business, further strengthening the strategic value of the acquisition.

Strategic initiative

“The acquisition of Kuiper Group is a strategic initiative by Asian Energy Services to expand its services offering of integrated operations and maintenance (O&M) across the Middle East and Southeast Asian countries leveraging Kuiper’s presence,” Asian Energy Services said.

Kuiper has a well-established presence in energy-rich nations such as Saudi Arabia, Qatar and the UAE. This positions Asian Energy Services to scale its operations, access this larger addressable market, and support its long-term growth ambitions. It added.

Kapil Garg, Managing Director, Asian Energy Services, said: “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 O&M services offering.”

Published on April 22, 2025