Egypt: Elsewedy Electric acquires 60% of Thomassen Service to expand gas turbine operations
The transaction includes Thomassen's MEA business unit (TSME), its filter manufacturing operations, and its affiliate in Africa.
Thomassen Service has over three decades of experience in the energy sector, with a focus on gas turbine services.
With a foundation in Dutch engineering, the company has established a presence in the Middle East and Africa through TSME, known for its technical service and operational support.
Elsewedy Electric, an integrated energy and infrastructure solutions provider in Europe, the Middle East, and Africa, said the acquisition adds gas turbine operations and maintenance services to its Engineering and Construction portfolio.
The company aims to offer full-cycle energy services, from project execution to asset management.
With TSME operating in the UAE, Oman, and Nigeria, Elsewedy Electric gains access to new regional markets.
The company also plans to expand in East Europe and CIS countries through EPC opportunities and respond to increasing demand for gas turbine services in the Middle East and Africa.
The acquisition supports Elsewedy Electric's plans to enter the oil and gas sector, using Thomassen's experience in turbine component repair and field maintenance to serve industrial and petrochemical clients.
As part of Elsewedy Electric Group, Thomassen Service is expected to increase its operational capacity and expand its geographic reach, with support in technology, workforce development, and facility upgrades.
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