Gulf Capital, an Abu Dhabi-based private-equity company, acquired a majority stake in OCB Oilfield Services, a Dubai-based oil rig crew supplier, as it continues to tap the Gulf region’s fastest growing sectors.
Gulf Capital said in an e-mailed statement today that it bought a stake exceeding 51 percent of the company, without being more specific or disclosing financial details.
The deal “is in line with Gulf Capital’s strategy of investing in market leaders in defensive and fast growing sectors in the region,” Chief Executive Officer Karim El Solh said.
Gulf Capital, set up in 2006, is using funds from its $533 million GC Equity Fund II for investments. Last year, the buyout firm bought an 82.7 percent stake in power generation services company Sakr Energy Solutions FZCO.