Eastern Industrial and Oilfields Services Holding (EiOS) has recently acquired 10 per cent of the Regional Energy Services Holding (Resh), a subsidiary of the Unicorn Global Private Equity Fund I.

EIOS is a closed shareholding company established in the year 2008 with a paid up capital of $10 million and authorized to $100 million. EiOS is a shareholder or a partner in a group of companies representing a total of 15 companies which provide services to both upstream and downstream energy sectors.

These companies operate from different geographically dispersed offices; Bahrain, Kuwait, UAE, Iraq, China, Hong Kong, Pakistan, Kazakhstan, Sudan, and Libya.

Resh is a subsidiary of the Unicorn Global Private Equity Fund I, which owns 70 per cent of Gulf Strategic Partners, a Bahrain-based company which provides the most technologically advanced industrial services for chemical cleaning, serving power generation, petrochemical and gas processing industries, located in the GCC and Asia.

Resh also owns 70 per cent of Bahrain Maintenance and Diving Services (BMDS), a Bahrain based limited liability company specialized in professional diving, maintenance and rigging services. Both companies provide their wide range of services to the oil and gas, petrochemical, and heavy industries sectors.

Through this intended partnership and with the diversity in services, EiOS will be able to offer the energy sector in the Middle East with ‘state-of-the-art’ technical services.

The group of companies will be able to gain new capacity and expertise along with access to greater resources, including specialized staff and technology, hence achieving sustainable competitive advantage.

“This acquisition is part of EiOS Holding’s ongoing corporate strategy to acquire a bouquet of specialist companies serving the energy sector in the region,” said Hussain Tadayon, chairman of EiOS.

“Our objective is to be able to provide long-term value to customers through seamless delivery of services and their integration with the operational structures of our clients.”

Majdi Khalaf, CEO of EiOS, said: “It's no overstatement to say that the last 12 months was remarkable for EiOS Holding. Through the acquisition of several well established companies like Corner Stone and Middle East Process Automation, we have transformed ourselves into a cohesive company of talented people.

“These individuals, along with our expanded portfolio of services, systems, and solutions, make EiOS Holding uniquely qualified to help our customers meet challenges they face every day. With Resh acquisition EiOS has firmly positioned itself to meet the immense challenges, and opportunities that the industrial sector in the region presents to us, whilst continuing to win new business, gain market share and retain our existing customer base.”

Aamir Khan, managing director of Global Private Equity at Unicorn, said: “We are delighted to welcome a strong, value-added partner into Resh and are confident that Resh and the Global Private Equity Fund I will benefit from EIOS’s extensive relationship base as well as the experience, expertise and proven track record of EIOS’s exceptional management team.”

Ahmed Abdul Rahman, private equity director at Unicorn, added: “We are seeing tremendous growth in infrastructure within the regional oil and gas sector, and with that, exponential growth in maintenance and service businesses.”

“Through Resh, we hope to provide unique and integrated solutions to an industry that lacks regional capabilities, and we are confident that EIOS is well-placed to help us achieve this,” he added. – TradeArabia News Service