Gibson Dunn advises on NPS acquisition

Gibson, Dunn & Crutcher LLP represented a consortium led by Fajr Capital in the USD500 million+ acquisition of Dubai-based National Petroleum Services.  The deal is expected to close in Q2 of 2014. The GCC-based consortium, which includes Arab Petroleum Investments Corporation (“APICORP”) and other regional institutional investors (the “Consortium”), has agreed to acquire NPS in a transaction valued in excess of USD500 million. Some of the current shareholders of NPS will remain as minority shareholders post transaction, including Abdul Aziz Al Dolaimi, who will continue as the Chairman of the Company.

The landmark deal is the largest announced private equity transaction in the MENA region in 2014, and marks the next stage in the growth and evolution of NPS. The management team remains unchanged and will continue to be led by current CEO Adnan Ghabris, who has led the Company for the last six years.

Following recent expansion in Algeria, Oman and Turkmenistan, NPS is well-positioned to grow its geographic reach and provide tailored services and solutions to the global oil and gas industry. The Consortium will leverage their collective business resources, including industry knowledge, global networks, and specialist expertise, to support the continued growth of NPS and enhance service offering to the company’s customers.

 The Gibson Dunn deal team is led by Dubai partners Paul Harter and Hardeep Plahe and includes Dubai associates Hanna Chalhoub and Nima Fath, and London associate Panayiota Burquier.