SEPC Limited has said that its board has approved the acquisition of a 90 per cent equity stake in Avenir International Engineers and Consultants LLC, Abu Dhabi. The move is aimed at expanding SEPC's global footprint and strengthening its presence in the high-growth Oil and Gas engineering sector across the Middle East and North Africa.

Avenir International Engineers and Consultants LLC is an established engineering services firm specialising in Oil and Gas engineering, front-end engineering design and project management consultancy. The company has a robust order book of approximately United Arab Emirates dirham (AED) 500 million (mn) and longstanding client relationships with regional entities including ADNOC and DEWA.

Under the terms SEPC will acquire the 90 per cent stake through a share swap arrangement. The valuation is based on 90 per cent of AED 708 million, equivalent to Indian Rupee (Rs) 15.3 billion (bn), and the transaction is expected to complete within six months subject to lenders and shareholders approvals. The acquisition is being carried out at arm's length.

Avenir reported revenue of AED 73.93 million (mn) in FY24 and AED 69.17 million (mn) in FY23, broadly equivalent to roughly Rs 1.72 bn and Rs 1.57 bn respectively. The company holds certifications including ISO 9001, ISO 14001 and ISO 45001 and is an ADNOC-approved vendor, underscoring its regional credibility.

SEPC said the acquisition represents a strategic shift from a primarily domestic EPC business to a globally diversified engineering and infrastructure company, with expected benefits including new revenue streams, improved margins and deeper client engagement. The companies intend to integrate engineering, procurement and project execution capabilities to pursue larger and more complex opportunities and to support sustainable, net zero aligned solutions.