Egyptian energy major deepens its play in the Gulf’s booming power infrastructure market with strategic 60% acquisition
Elsewedy Electric, one of the largest integrated energy and infrastructure solutions providers spanning Europe, the Middle East, and Africa, has taken a decisive step to broaden its footprint in the energy services space. The company announced on [date] that it has acquired a 60% majority stake in UAE-based Thomassen Service, a specialist in gas turbine maintenance and repair.
The move is more than a routine acquisition — it signals Elsewedy Electric’s intent to move beyond infrastructure development and construction into the higher-margin, long-term world of turbine operations, maintenance, and lifecycle support.
What the Deal Covers?
The transaction isn’t limited to a single entity. It brings under Elsewedy Electric’s umbrella three key assets:
- Thomassen Service’s Middle East and Africa operations (TSME)
- Its specialised filter manufacturing unit
- Its Africa-based subsidiary
Together, these give Elsewedy Electric a ready-made, technically skilled service arm with more than 25 years of hands-on experience in gas turbine operation, maintenance, and component repair — expertise that would otherwise take years, and considerable capital, to build organically.
Why This Matters Now?
The timing is no coincidence. Demand for dependable power infrastructure is climbing sharply across the Arabian Gulf and the wider Middle East, driven by two parallel forces: national economic diversification programmes and accelerating energy transition targets. Governments across the region are pushing to scale up power generation and industrial capacity, and that means turbines — and the specialised maintenance they require — are more valuable than ever.
By folding Thomassen Service’s on-ground capabilities into its own integrated project ecosystem, Elsewedy Electric positions itself to serve clients locally rather than routing critical maintenance work through overseas facilities. In practical terms, that should translate into faster turnaround times, tighter operational efficiency, and stronger asset reliability for customers in the industrial, petrochemical, and energy sectors.
In Their Own Words
The agreement was formally signed by Eng. Ahmed Elsewedy, CEO and Managing Director of Elsewedy Electric, and Eng. Peter Hertog, CEO of Thomassen Service, with Chairman Sadek Elsewedy and senior leadership from both companies present.
Ahmed Elsewedy framed the deal as part of a broader global ambition:
“This acquisition marks an important step in strengthening our technical capabilities and expanding the value we deliver to our customers across the Middle East, Africa, Europe and the Far East. By combining Thomassen Service’s specialised expertise with our integrated project capabilities, we are well positioned to meet the evolving needs of the energy sector.”
He added that the deal fits into a longer-term vision of owning the full energy project lifecycle:
“It also represents a key milestone in our global expansion strategy, enabling us to provide comprehensive solutions across the full lifecycle of energy projects—from execution to long-term maintenance and operation—while ensuring the highest standards of performance and reliability.”
For Thomassen Service, the acquisition is being pitched as a growth opportunity rather than a takeover in the traditional sense. Peter Hertog said joining Elsewedy Electric would open doors to new markets and greater scale:
“We are proud to become part of a group that shares our commitment to quality, innovation, and customer focus. Our strong track record in turbine maintenance and repair, supported by agile technical teams and international experience, positions us well to contribute to Elsewedy Electric’s growing portfolio and deliver enhanced value to customers across key markets.”
The Bigger Picture: What Elsewedy Electric Gains
Strategically, this deal does three things for Elsewedy Electric:
- Fills a capability gap — On-site turbine maintenance and component repair are specialised, technically demanding services. Acquiring an established player like Thomassen Service is faster and less risky than building that expertise from scratch.
- Deepens client stickiness — Industrial, petrochemical, and energy clients that need high-performance, reliable turbine support now have a reason to stay within the Elsewedy Electric ecosystem for the long haul, rather than just for one-off construction contracts.
- Signals global intent — With operations already spanning Europe, the Middle East, Africa, and now extending reach into the Far East, the acquisition supports Elsewedy Electric’s ambitions as a full-lifecycle energy solutions provider, not just an infrastructure builder.
For Thomassen Service, the benefits flow the other way — access to Elsewedy Electric’s financial strength, established regional footprint, and integrated engineering and construction ecosystem, all of which should help it scale into new, high-growth markets faster than it could as a standalone player.
What’s Next?
Looking ahead, the companies say the deal is expected to accelerate investment in research and development, expand operational capacity, and upgrade infrastructure — alongside a renewed push on talent development. The stated goal is to sharpen the combined group’s competitiveness across the energy, oil, and gas sectors as regional demand for reliable power infrastructure continues to climb.
Quick Facts
| Detail | Information |
|---|---|
| Acquirer | Elsewedy Electric |
| Target | Thomassen Service |
| Stake acquired | 60% (majority) |
| Sector | Gas turbine maintenance & repair |
| Assets included | TSME operations, filter manufacturing unit, Africa subsidiary |
| Signed by | Eng. Ahmed Elsewedy & Eng. Peter Hertog |
| Region of impact | Middle East, Africa, Europe, Far East |
