Actuant buys Dubai assets of Fulcrum-backed FourQuest Energy
Actuant Corp (NYSE: ATU) has acquired the Middle East, Caspian and North Africa division (FourQuest MENAC) of Canada's FourQuest Energy Inc for about US$60 million. Based in Dubai, United Arab Emirates, FourQuest MENAC is a provider of pipeline and process services in the region. Actuant, a U.S. diversified industrial company, said the acquisition enhances its position as a specialist in maintenance services in the energy space. Edmonton-based FourQuest Energy is an oil field services business. It has been backed by Canadian private equity firm Fulcrum Capital Partners since September 2012.
1 April 2016•3 mins read
