Engineering, Procurement & Construction Company for Sale in Ajman, United Arab Emirates
|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|
- 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.
EPC, construction management and project management services, manpower supply.
Current office is a rented place in Ajman as a representative office.
Earlier than 15 daysFounder, New York, M&A Advisor connected with the Business
Earlier than 15 daysCEO, Engineering & Electrical Manufacturing, Mumbai, Corporate Investor / Buyer connected with the Business
Earlier than 15 daysFinance Director, Oil & Gas Exploration And Production, Dubai, Individual Investor / Buyer connected with the Business