Abu Dhabi-based ports and logistics giant AD Ports Group has acquired Divetech Marine Engineering Services, a compatriot topside and subsea solutions provider.
AD Ports said the acquisition and integration of the company that offers a range of services, including installation, inspection, repair and maintenance for ports and other maritime organisations, will extend the range of services offered by the group’s maritime cluster.
“This acquisition provides a strong strategic fit for our existing portfolio of services and our plans for growth. Divetech is a leader in diving and marine services in the UAE, with a well-respected track record and diverse customer base. It has also delivered impressive top-line growth over the last three years,” stated captain Maktoum Al Houqani, chief corporate authority officer and acting head of AD Ports’ maritime cluster.
The move adds to AD Ports’ recent interest purchases in logistics firm Aramex and UAE-based contractor National Marine Dredging Company (NMDC). The 100% acquisition of Divetech will be fully funded from AD Ports’ existing cash reserves.