Alpha Dhabi Holding PJSC (ADX: ALPHADHABI), one of the most dynamic investment holding companies in Abu Dhabi, continues to make impressive strides in the global market. As part of its joint venture with ADNOC Drilling Company PJSC, Alpha Dhabi has recently announced the acquisition of EV Holdings Ltd., a leading global provider of vision-based diagnostics and analytical services for the oil and gas sector. This strategic move underscores Alpha Dhabi’s commitment to advancing technology-centric investments and enhancing its portfolio in the energy sector.
The acquisition of EV Holdings is valued at approximately $45 million, a testament to the significant potential this company brings to the table. EV Holdings, with its headquarters in the United States, operates across 36 countries, including key markets in the UAE and Saudi Arabia. The company is renowned for its innovative well diagnostics services, which utilise advanced technologies such as 360-degree downhole cameras and integrated camera-ultrasound tools. These solutions are pivotal in resolving complex wellbore issues, making EV a valuable asset in the global oil and gas industry.
This acquisition aligns perfectly with Enersol’s strategic vision of becoming a technology-centric investment platform. It marks the third major acquisition for Enersol this year, bringing its total investment commitments to approximately $550 million. This aggressive expansion strategy not only strengthens Enersol’s position in the energy sector but also highlights Alpha Dhabi’s role as a forward-thinking leader in the industry.
EV Holdings’ strong financial performance further solidifies the value of this acquisition. With revenue exceeding $30 million in FY2024, driven significantly by contributions from the MENA region, and a robust EBITDA margin, EV is poised for continued growth. The company’s focus on leveraging AI and machine learning through its AIVA platform, along with its impressive portfolio of 116 patents, positions it as a leader in innovation within the industry.
Alpha Dhabi’s involvement in Enersol’s success reflects its broader commitment to fostering innovation and driving economic growth in the UAE and beyond. As a company with a diverse portfolio spanning healthcare, renewable energy, petrochemicals, real estate, and hospitality, Alpha Dhabi is a key player in the region’s economic landscape. With over 95,000 employees and a strong focus on supporting emerging businesses, Alpha Dhabi is well-positioned to continue its upward trajectory.
The acquisition of EV Holdings is a significant milestone for Alpha Dhabi Holding and its joint venture, Enersol. This move not only enhances their technological capabilities but also reaffirms their dedication to expanding their global footprint in the energy sector. As Alpha Dhabi continues to invest in innovative and high-growth sectors, it remains a vital contributor to the UAE’s economic development and a key player on the global stage.
