Gulf Capital is buying a controlling stake in OCB Oilfield Services, which provides crews and logistics for oil rigs, to boost its exposure to the sector, the private equity firm said in a statement on Wednesday.
Gulf Capital, which has around US$1bn in assets under management and counts Credit Suisse among its investors, did not provide financial terms of the deal. The company's stake exceeds 51 percent but the specific figure was not provided.
Gulf Capital said the global market for offshore crew supply and linked services, outside North America, is more than US$1bn a year.
Read more: http://www.arabianbusiness.com/uae-s-gulf-capital-buys-stake-in-oil-field-firm-489357.html
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