ENOIA BV, the engineering arm of Dubai-based Future Group Holdings S.A. SPF (FGH), has acquired Chennai-headquartered Babcock Borsig Softech Pvt Ltd (BBSPL) for an undisclosed amount.
Founded in 2000, BBSPL is a multidisciplinary design and engineering consultancy company, serving oil & gas, process & power sectors, offsites and utilities, civil & structural infrastructure, and manufacturing & automotive-based projects. The firm currently employs over 100 people.
It was originally a 100 per cent subsidiary of IDEA (International Development and Engineering Associates Ltd) and was acquired in a management buyout by Udo-E Land, a German executive who had shifted to India in 1995 to head Flender Ltd. He later took over as the head of Babcock Borsig Group of Companies in India and around 10 years ago, led a buyout of BBSPL.
“By combining resources and aligning our business models, this acquisition will allow us to further diversify our services and drive greater growth in our engineering business,” said George Paidoussis, managing director of ENOIA.
Headquartered in Hardenberg, the Netherlands, ENOIA operates through its three subsidiaries – Dynaflow International Inc (UAE), ENOIA SA (Greece) and CEB Utilities (Egypt). The firm was established in 2008 and provides pipe stress and surge analysis, as well as complete engineering design and consultancy services to oil & gas, petrochemical, power/desalination, water and other industries.
Future Group Holdings S.A. is engaged in manufacturing, engineering, realty and investments, among other businesses. The company was founded in 1981 and is headquartered in Dubai, with additional offices in London, New York and Greece. Future Group has three core segments – operating businesses, the investment group and the family office.
(Edited by Sanghamitra Mandal)