Alpha Dhabi has acquired a 25 per cent stake in Gordon Technologies for AED 602 million. Chimera Capital acted as sole financial advisor to Alpha Dhabi on the transaction.
Commenting on the transaction, Hamad Salem Al Ameri, Chief Executive Officer and Managing Director of Alpha Dhabi, said: “This transaction reaffirms our strong commitment to growing and driving value across our portfolio through investment in innovation and technology, a core tenet of our growth strategy at Alpha Dhabi. We continually look at investments in disruptive and new technologies and by partnering with a market leader such as Gordon Technologies, we aim to accelerate our growth in this space while also complementing our energy portfolio, which we continue to scale and diversify across different markets and geographies.”
Alpha Dhabi will support Gordon Technologies in its geographic expansion plans with one key focus being the Middle East market as it looks to build on the strong performance and track record of growth that the existing ownership team have witnessed to date.
Terry Frith, Chief Executive Officer of Gordon Technologies, added: “We have experienced significant growth and have a strong track record of delivering outstanding services across the United States, and we look forward to working with Alpha Dhabi to catalyse our growth further and expand internationally into the Middle East market which represents a great opportunity to generate further value as we grow and provide our proprietary technology services to what is one of the core oil and gas markets globally.”
