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Gulf Capital acquires 50 percent of GMS

By admin • May 13th, 2007

ABU DHABI. Gulf Capital, a leading regional alternative investment company, has acquired a 50 percent stake in Gulf Marine Services (GMS), one of the largest jack-up barge and support vessel operating firms in the UAE, and which has a presence throughout the Gulf. GMS offers a range of marine and engineering services that provide support [...]

Gulf Capital acquires 50 percent of GMS ABU DHABI. Gulf Capital, a leading regional alternative investment company, has acquired a 50 percent stake in Gulf Marine Services (GMS), one of the largest jack-up barge and support vessel operating firms in the UAE, and which has a presence throughout the Gulf. GMS offers a range of marine and engineering services that provide support for marine and offshore well intervention operations. GMS aims to increase its fleet of jack-up barges to meet future demand. Karim El Solh, the chief executive officer of Gulf Capital said, “Gulf Capital has been actively targeting investments in the booming regional oil and gas industry. GMS is a recognized leading operator of jack-up barges in this fast-growing sector in the UAE and is well on its way to becoming the dominant player in the Gulf region. The GMS transaction is the latest in a string of acquisitions that allows Gulf Capital to capitalize on the unprecedented growth in the offshore oil and gas sector.”