Chennai, March 24, 2026:
SEPC Limited has announced that its Board has approved the acquisition of a 90% equity stake in Avenir International Engineers and Consultants LLC, marking a major step in the company’s global expansion strategy.
The transaction, valued at approximately AED 708 million (around ₹1,530 crore for the 90% stake), will be executed through a share swap arrangement and is expected to be completed within six months, subject to necessary approvals from lenders and shareholders.
Strategic expansion into global Oil & Gas sector
The acquisition signals SEPC’s entry into the global Oil & Gas engineering and consulting space, with a particular focus on the Middle East and North Africa (MENA) region. Avenir is a well-established engineering services firm with expertise in Oil & Gas engineering, Front-End Engineering Design (FEED), and Project Management Consultancy (PMC).
Headquartered in Abu Dhabi and founded in 2007, Avenir has built strong relationships with leading regional players, including Abu Dhabi National Oil Company (ADNOC) and Dubai Electricity and Water Authority (DEWA). The company also has a robust order book of around AED 500 million.
Financial performance and capabilities
Avenir has demonstrated consistent growth in recent years. It reported revenues of AED 73.93 million (₹171.89 crore) in FY24, up from AED 69.17 million (₹156.73 crore) in FY23 and AED 31.91 million (₹71.92 crore) in FY22.
The company holds multiple global certifications, including ISO 9001, ISO 14001, and ISO 45001, and is an approved vendor for ADNOC, highlighting its operational credibility in the region.
Growth synergies and long-term outlook
SEPC said the acquisition will help it diversify geographically, strengthen international execution capabilities, and gain access to high-margin, technology-driven engineering services. The deal is also expected to create synergies across engineering, procurement, and project execution, while providing a scalable platform for growth in the MENA region.
The company clarified that the transaction is being carried out at arm’s length and does not involve any related-party interests.
Management commentary
SEPC’s management described the acquisition as a “transformational step” in its evolution from a domestic EPC-focused company to a globally diversified engineering solutions provider.
Avenir’s management, meanwhile, said the partnership would accelerate its growth ambitions by leveraging SEPC’s execution strengths, enabling it to pursue larger and more complex projects while enhancing client engagement.
The move aligns with SEPC’s long-term vision of building a globally competitive engineering platform with a balanced presence across geographies and sectors.