Alpha Dhabi Holding, UAE’s investment holding company listed on the Abu Dhabi Securities Exchange (ADX), acquires a 25% stake in Gordon Technologies, a provider of measurement while drilling (MWD) technology to the oil and gas industry, in a $136 million deal.
Gordon Technologies is majority owned by private equity firm Pelican Energy Partners and its management team will remain part of the company after the transaction.
“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. 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,” Hamad Salem Al Ameri, Chief Executive Officer and Managing Director of Alpha Dhabi, said.
Alpha Dhabi will also support Gordon Technologies in its geographic expansion plans within the Middle East market. Chimera Capital acted as the sole financial advisor to the transaction.
Alpha Dhabi Holding, recently invested to $2.5 billion in Chimera Capital and Alpha Wave’s Ventures II venture fund.
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