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Engineering, Procurement & Construction Company for Sale in Ajman, United Arab Emirates

Distressed EPC firm with marquee Oil & Gas clients in the MENA region seeking equity infusion / acquisition.
This Business is on a Premium Plan
Established 10-20 year(s)
Employees 2 - 5
Legal Entity Limited Liability Company (LLC)
Reported Sales USD 1 million
Run Rate Sales USD 270 thousand
EBITDA Margin 9 %
Industries Engineering, Procurement & Construction
Locations  Abu Dhabi + 1 more
Local Time 11:51 AM Asia / Kolkata
Listed By Business Owner / Director
Status Active
Overall Rating
Full Sale
Asking Price: USD 5.4 million (Native Currency: AED 20,000,000)
Reason: We are unable to revive the business due to a lack of working capital. Open to both a full sale and ... View More
Includes physical assets worth USD 27 thousand
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Business Overview

- Abu Dhabi based EPC firm which was engaged in offering CMEI (Civil, Mechanical, Electrical, Instrumentation) services to Oil and Gas clients in the MENA region.

- Also used to offer manpower for the Oil and Gas industry.

- Have completed orders valued over USD 50 million since inception.

- The business is headquartered in Abu Dhabi where it earlier maintained a 2,500 sq. ft. office.

- Currently operate a field office in Ajman.

- Our clients include Petrofac, Tecnimont, Samsung Engineering Ltd, Tata Projects Ltd, FATA Spa etc.

- Are also registered contractors with Adco, Gasco, Takreer, Zadco, Fertil, Al Hosn Gas, Abu Dhabi Water & Electricity authorities, NPCC and ESNADD Steel.

- In the past, the business took up a large contract which turned to have unforeseen negative consequences due to issues with the client.

- This forced the business to freeze operations in UAE due to insolvency.

- At present, the business has liabilities of USD 6.7 million against receivables of USD 880,000.

- Of the USD 6.7 million, around 10% is owed to banks, 30% to ex-employees and 60% to vendors.

- Currently, the business does not take up any active projects but receives cashflows from older projects.

- We still enjoy a strong relationship with our clients and are viewed in good faith by the banks who are willing to write off some of the debt to settle accounts.

- Our vendors are also willing to negotiate to settle the bad debt.

- The UAE courts have attached our receivables to help meet the obligations to vendors.

- The promoters are currently based in India to avoid complications that have arisen from litigation.

- We have a clear solution to restore the business to financial health but lack the capital to do so.

- We are open to both a full sale of the business as well as an equity infusion.

Products & Services Overview

EPC, construction management and project management services, manpower supply.

Facilities Overview

Current office is a rented place in Ajman as a representative office.

Recent Activity
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Disclaimer: SMERGERS is a regulated marketplace for connecting business sell sides with investors, buyers, lenders and advisors. Neither SMERGERS represents nor guarantees that the information mentioned above is complete or correct.
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