SEPC to acquire 90% of UAE-based Avenir as it looks to strengthen its global exposure

Chennai: Marking a major leap in its global expansion plans, Chennai based engineering, procurement, and construction (EPC) major SEPC Limited has announced a Board approved proposal to acquire up to 90% of Abu Dhabi-based Avenir International Engineers and Consultants LLC.

The transaction involves a share swap arrangement, with SEPC allotting 153 crore equity shares to Avenir shareholders, offering SEPC a zero cash outflow while helping it expand its reach to the Middle East and North Africa (MENA) region. The transaction is expected to close by December 2026, subject to regulatory approvals.

Avenir International Engineers and Consultants LLC serves the oil and gas and civil infrastructure sectors in the UAE, it has reported a turnover of about AED 75.01 million. 

“The proposals approved by the Board represent important enablers for SEPC’s next phase of growth. As we continue to strengthen our execution capabilities and expand our market presence, it is equally important to build the financial and organisational capacity required to pursue larger and more complex opportunities. The proposed acquisition of Avenir International Engineers and Consultants LLC is intended to complement our engineering capabilities and provide access to the UAE’s oil & gas ecosystem, while the proposed enhancement of our capital and borrowing framework is designed to support the Company’s evolving business requirements. Together, these initiatives reinforce our longterm approach of building a stronger and more diversified engineering enterprise.” Mr. Venkataramani Jaiganesh, Managing Director, SEPC Limited, said in a press release.