Simmons & Company International played a key role as advisor in the acquisition of Dubai-based National Petroleum Services (NPS) by a consortium of investors led by sovereign-backed investment firm Fajr Capital.

The deal, valued at over $500 million, is believed to be the biggest oil services M&A transaction in the Middle East to date.

The GCC-based consortium, led by private equity firm Fajr Capital, includes Arab Petroleum Investments Corporation (Apicorp) and other regional institutional investors. NPS currently employs 1,300 people and operates in Saudi Arabia, UAE, Qatar, Iraq, Malaysia and North Africa.
 
The involvement of the Simmons’ Dubai and Aberdeen teams on this high profile deal marks their growing presence in the Middle East where they have now been involved in several notable transactions including the sale of Lamprell subsidiary, Inspec, to Intertek, the disposal of Al Mansoori’s Thailand business and the sale of Clough’s marine construction business to Sapura.
 
Nick Dalgarno, co-head of Eastern Hemisphere business for Simmons & Co, led the team which advised Fajr Capital and the other investors on the acquisition of NPS.

"Our ability to offer a truly global perspective and our deep energy expertise, track-record and contacts position us extremely well in the Middle East," he observed.
 
“The Middle East is becoming an increasingly important region for international oilfield services businesses and the expertise of our Aberdeen and Houston teams combined with our presence in Dubai make a compelling proposition for companies in the sector looking to buy, sell or secure investment,” he added.
 
Simmons’ expanding team in Dubai is fully supported by their Eastern Hemisphere head-quarters in Aberdeen.-TradeArabia News Service