M&A Deal Summary

Dussur, Aramco and Doosan Acquire Tuwaiq Casting & Forging

On February 11, 2020, private equity firm Dussur, Aramco and Doosan acquired manufacturer Tuwaiq Casting & Forging

Acquisition Highlights
  • This is Dussur’s 3rd, Aramco’s 2nd and Doosan’s 1st transaction in the Manufacturing sector.
  • This is Dussur’s 3rd, Aramco’s 2nd and Doosan’s 1st transaction in Saudi Arabia.

M&A Deal Summary
Date 2020-02-11
Target Tuwaiq Casting & Forging
Sector Manufacturing
Buyer(s) Dussur
Aramco
Doosan
Deal Type Joint Venture

Target

Tuwaiq Casting & Forging

Jubail, Saudi Arabia
Tuwaiq Casting & Forging produces castings and forgings that go into the pumps and valves of petrochemical plants and those used on equipment for shipbuilding and offshore plants. Tuwaiq Casting & Forging was formed in 2020 and is based in Jubail, Saudi Arabia.

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Buyer(S) 3

Buyer

Dussur

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Focused
DESCRIPTION

Dussur is a private equity firm focused on investments in Saudi Arabia through joint venture partnerships. The Firm generally seeks to invest in strategic industrial companies with a focus on the metals and specialty chemicals sectors. Dussur is headquartered in Riyadh, Saudi Arabia.

DEAL STATS #
Overall 3 of 8
Sector (Manufacturing) 3 of 4
Type (Joint Venture) 3 of 6
Country (Saudi Arabia) 3 of 6
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-05 Makeen

Dhahran, Saudi Arabia

Makeen manufactures 2-stroke and 4-stroke marine and electric power plant (EPP) engines, as well as marine pumps that power vessels, auxiliary equipment, generators, and propulsion systems. Makeen was founded in 2019 and is based in Dhahran, Saudi Arabia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-31 Elessent Clean Technologies

St. Louis, Missouri, United States

Elessent Clean Technologies is a source of solutions for decarbonizing the industrial manufacturing sector and transitioning the industry to a sustainable future. Their clean technology solutions minimize environmental impact and optimize productivity while remaining cost competitive. Elessent Clean Technologies was formed in 1925 and is based in St. Louis, Missouri.

Buy -
Buyer

Aramco

Dhahran, Saudi Arabia
Category Company
Sector Oil/Gas Exploration
Employees54,041
Revenue 400.0B USD (2012)
DESCRIPTION
Aramco office in downtown Houston, Texas.
Aramco office in downtown Houston, Texas.

Saudi Aramco is a Saudi Arabian national oil and natural gas company based in Dhahran, Saudi Arabia.

DEAL STATS #
Overall 2 of 5
Sector (Manufacturing) 2 of 2
Type (Joint Venture) 2 of 2
Country (Saudi Arabia) 2 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-05 Makeen

Dhahran, Saudi Arabia

Makeen manufactures 2-stroke and 4-stroke marine and electric power plant (EPP) engines, as well as marine pumps that power vessels, auxiliary equipment, generators, and propulsion systems. Makeen was founded in 2019 and is based in Dhahran, Saudi Arabia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-09 Aramco Oil Pipelines

Dhahran, Saudi Arabia

Aramco Oil Pipelines is a pipeline company that provides tariff payments for oil transported through Aramco’s stabilized crude oil pipeline network. Aramco Oil Pipelines is based in Dhahran, Saudi Arabia.

Sell -
Buyer

Doosan

Seoul , South Korea
Category Company
Founded 1896
Sector Manufacturing
DESCRIPTION

Doosan has developed into a multinational conglomerate. Doosan was founded in 1896 and is based in Seoul , South Korea.

DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Joint Venture) 1 of 1
Country (Saudi Arabia) 1 of 1
Year (2020) 1 of 1
Mergr

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