Elsewedy Electric Acquired Stake in Thomassen Service
The energy firm secured a 60% stake in the gas turbine repair company to boost regional service capabilities.
Updated on Sept. 21, 2026 in Oil and Gas
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In September 2026, Elsewedy Electric finalized an agreement to acquire a 60% stake in Thomassen Service. The partnership was formally signed during a ceremony held in Riyadh, Saudi Arabia.
Why it matters
This acquisition serves to reduce dependency on overseas facilities for critical gas turbine maintenance. By localizing these technical services, the companies aim to provide more efficient support across the Middle East.
Elsewedy Electric acquired a 60% majority interest in Thomassen Service. The firm brings 25 years of technical expertise in gas turbine maintenance to the partnership.
The players
Elsewedy Electric
An energy infrastructure company that focuses on power generation, transmission, and distribution solutions.
Thomassen Service
A provider specializing in the maintenance and repair of gas turbines with 25 years of experience.
Ahmed Elsewedy
He serves as the CEO and Managing Director of Elsewedy Electric.
Peter Hertog
He acts as the CEO of Thomassen Service.
The details
The agreement was signed by Elsewedy Electric CEO Ahmed Elsewedy and Thomassen Service CEO Peter Hertog. This strategic move is intended to facilitate the expansion of Thomassen Service into various high-growth markets throughout the region.
Timeline
The acquisition agreement was formalized in Riyadh in September 2026.
Market Landscape
This acquisition highlights the ongoing trend of regional energy firms moving to localize complex maintenance services to reduce supply chain vulnerability. By integrating Thomassen Service into its portfolio, Elsewedy Electric strengthens its competitive position against global service providers in the Middle East.
Energy facility operators in the region may see reduced wait times and lower logistics costs for turbine repairs as service delivery is localized. The deal is expected to increase regional capacity for power infrastructure maintenance.
The takeaway
Companies in the energy sector are increasingly seeking majority stakes in specialized service firms to exert greater control over their supply chains. This strategy provides a hedge against the operational risks and delays associated with relying on international service facilities.
Further reading
For additional context on regional energy infrastructure, visit our /business/industry/oil-gas/ section.
Source note: This article includes information reported by Technicalreviewmiddleeast.
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