India, April 22 -- Asian Energy Services Ltd (AESL), a leading integrated service provider to the energy and mining sectors, has announced the acquisition of a 100% stake in Kuiper Group, UAE from Gulf Capital (a marquee private equity fund), for a consideration of US$ 9.25 million in an all-cash deal.

The acquisition is expected to be completed within the next two months, following which Asian Energy will acquire Kuiper Group along with its global management team and normalized working capital. The acquisition will be funded through a combination of internal accruals and debt.

Kuiper Group is a globally recognized provider of comprehensive and integrated manpower solutions, specifically tailored for the energy sector across the Middle ...