Nord Kapital and Habu Holding sell Nobu Group to Tubacex and Senaat
Frankfurt/Stockholm - Alantra, a global investment banking and asset management firm focused on the mid-market segment, has advised Norwegian investment companies Nord Kapital and Habu Holding on the sale of Dubai-based Nobu Group (Nobu) to Tubacex and Senaat General Holding Corp. The transaction is expected to close in March 2019.
Nobu is a provider of precision mechanical applications for the oil and gas industry and is central to the global value chain of major oilfield equipment suppliers and service companies through the manufacture of precision components and the maintenance and repair of critical oilfield equipment.
Nobu subsidiary NTS has grown rapidly since its establishment in the Jebel Ali Free Trade Zone (United Arab Emirates — UAE) in 2016 to become a leading provider of precision component repair services whose services are used by the region’s largest oilfield service companies. Through the establishment of NTS Saudi in the Kingdom of Saudi Arabia in 2012 and the merger with Promet in Norway in 2013, NTS has established itself as a key partner to Baker Hughes, Schlumberger, Halliburton, Weatherford, Emerson, Benestad and other leading oilfield equipment and service companies. Nobu’s expertise in LWD/MWD (logging/measuring-while-drilling) instrument maintenance and in the manufacture of custom components from “exotic”, difficult-to-machine materials is critical to its customers’ ability to ensure the serviceability of critical tools for oilfield drilling in the Arabian Peninsula and Norwegian Continental Shelf. With more than 200 employees, modern facilities and equipment, Nobu has a key competitive advantage in these regions.
Frank Merkel (photo), partner at Alantra, based in Frankfurt’s Büro, said, “The Nobu Group sale underscores Alantra’s continued commitment to the oil and gas sector and our ability to identify potential buyers globally and successfully execute multilateral transactions with multiple sellers and acquirers in different jurisdictions and cultures. Advising the two Nordic owners on the sale of a Middle East-based company with Scottish-Norwegian management to acquirers from Spain and the United Arab Emirates is also an exceptional case in our exceedingly international business and thus a particularly interesting mandate.”
Anders Høifødt, Partner at Nord Kapital, added: “We are delighted with this successful transaction. Nobu’s new owners have a clear vision for the further development of the company into a leading provider with an even broader range of machine-based services. The Alantra team provided us with extremely valuable support in this highly complex cross-border transaction.”
Eimund Sletten, CEO of Habu Holding, highlighted, “We have a long track record of doing business in this region. New business ventures can be challenging in the Middle East, but our experience on the ground since 1992 has proven to be the main success factor in establishing NTS as a cost-effective precision machining company in the UAE and Saudi Arabia. We were impressed with Tubacex and Senaat’s approach and plans in this transaction and look forward to remaining associated with the company through a return investment in the future.”
Alantra is a global investment banking and asset management firm focused on the mid-market segment with offices in Europe, the US, Asia and Latin America. With more than 350 experts, the Investment Banking unit provides independent advice on M&A, corporate finance, loan portfolios and capital market transactions. The Asset Management unit manages assets of around 4.5 billion euros in the asset classes private equity, active funds, private debt, real estate and wealth management. For more information, please visit: www.alantra.com.