We are delighted to have advised Dron & Dickson Group Limited on their sale of DDEC to Proserv Group
A subsidiary of Dron & Dickson Group Limited (DDGL), DDEC was a well-established electrical engineering and wholesale service provider based in Abu Dhabi.
DDEC was recognised as a market leader in the UAE for the supply and maintenance of hazardous area electrical equipment and had a number of MSAs in place with key customers in the APAC and MENA regions.
DDGL is targeting growth in the UK and European markets and therefore, DDEC was no longer core to its future strategy, and therefore decided to sell to a trade player.
Our team provided corporate finance advisory and tax structuring advisory services to the client as part of the deal.
With a strong understanding of the oil & gas sector, we were able to ensure the right buyer was found for the business going forward.
The process led to DDEC being acquired by Proserv Group, which saw it as an opportunity to broaden its offering and further penetrate the Middle East & North Africa region.
Our extensive knowledge of the oil & gas sector and network of contacts enabled us to run a targeted process, and deliver a transaction on strong terms, whilst ensuring continued growth in the future.
A joined-up approach enabled a positive result to be met for all stakeholders.
The Grant Thornton team provided valuable support from start to finish throughout the process, always there with sound advice when we needed it both from a deal advisory and tax standpoint. The output presentation in terms of IM and reports was first class. Despite the challenges of all parties working remotely in different international locations during the transaction, Grant Thornton ensured that momentum was injected into the process when required. The Grant Thornton team take a lot of credit for helping to deliver a successful deal through not only strong project management but also their pragmatic and sensible guidance during the final negotiations between the parties.John Strang Group Finance Director, Dron & Dickson Group Limited