Riyadh, Saudi Arabia: Saudi Arabia-based investment group Energy Capital Group (ECG) has announced the completion of the successful acquisition of Aujan Industrial Solutions (AIS), a leading provider of solutions to the oil & gas, petrochemical, metals & mining and water markets with 30 years of experience and expertise. AIS' lines of business include Value Added Distribution, Fire and Gas Solutions, Measurement Intelligence and Technology Solutions. 
 
This marks the fourth investment of the fund which announced a first close in Q3 2023. The fund plans a further 4-5 investments within 2024.

Energy Capital Group is investing in businesses that can capitalize on the significant investment going into regionally relevant value chains and driving the need for technology-based services and turnkey solutions across the industrial supply chain. ECG plans to grow the business significantly through strategic expansion of existing business lines into new segments and geographies, integration of the AIS business into to the ECG portfolio, building on synergies and adjacencies and driving operating leverage.

The acquisition of AIS is an important part of Energy Capital Group's investment strategy, providing a powerful growth platform to further build the Industrial Services and Solutions Champion. The company's focus on technology deployment through localized services and solutions along with its diversified revenue sources, will enable it to achieve significant revenue growth and become a leading player in the industrial services and solutions market.
 
Ali Alturki, Managing Partner of Energy Capital Group, said: “The acquisition of Aujan by the ECG2.0 Fund-II is a key step to our portfolio as we aim to create National Champions in energy and energy-related technologies. Aligned with Saudi Arabia’s Vision 2030 and Aramco’s IKTVA program, the new acquisition is a step towards realising our goals of acquiring leading local companies to develop local content and cutting-edge technologies for transfer to the Kingdom.”
ECG continues its strategy in partnering with some of the most respected industrial service providers in the region and globally and is committed to providing reliable, cost-effective solutions to its customers. The Fund is poised to become a major player in the industrial services sector and is well-positioned to capitalise on the growing demand for specialised services.
 
About Energy Capital Group (ECG):
Energy Capital Group (ECG) was founded in 2008 by Ali Abdulaziz Alturki and Co-GP's comprising prominent industrial and financial sector leaders who closed over USD5B of local and international transactions. In 2021, ECG launched its latest fund after merging with Cayan Holdings (Akram Alrabayah, Co-GP) and Watar Partners (Abdulwahab Al Betairi, Co-GP) as the strategic advisor. The ECG team has a solid track record in building key strategic partnerships with local and global service providers. With significant investments in Saudi Arabia and the region, ECG is supported by experienced operating partners in the sector and a network of experienced and successful leaders in the energy space. 

For more information, visit https://www.ecgsaudi.com or contact us on info@ecgsaudi.com
 
About Aujan Industrial Solutions (AIS):
Aujan Industrial Supplies & Services (AIS) brings 30 years of  experience and expertise in delivering solutions to the oil & gas,  petrochemical, metals & mining, power, and water markets.  AIS is a  channel to market for the strongest global brands focused on safety and  reliability including MSA, BH, Rotating Machinery Services, Honeywell  and 3M.  AIS’s success is driven by an uncompromising commitment to our  founding principles of safety and reliability.
For more information, visit https://www.aujan.solutions/ or contact us on info@ais.com.sa