Energy Capital Group
ECG was founded by the merger of two investment firms, Cayan Holdings and ECG in 2021. Funded by Jada Fund of Funds (part of the Public Investment Fund). ECG has managed to secure it’s first raise of 150Mn USD.
ECG is focused on creating and developing KSA’s first industrial services and technology-oriented National Champion in the Energy Sector, in-line with Saudi Arabia’s Vision 2030 and Aramco’s IKTVA program.
ECG aims to execute on its vision by acquiring firms that act as a “technology-bolt-on”, and vertically & horizontally integrate firms which allows for additional cost synergies and economies of scales.
Investment Rationale
Todays industrial services & solutions market is highly fragmented in the Kingdom. Current solutions faces serious coordination challenges, higher risk exposure, increase in cost inefficiencies, and often siloed approaches for projects. Asset owners and operators often are left with higher product cost per unit and lower margins, reduced availability and safety readiness, impaired asset reliability & lifecycle impairment, and significantly higher impact on sustainability.
Solution
Building and consolidating industrial services platforms
ECG Fund 2.0 goal is to build a fully-integrated industrial services & solutions national champion that solves the fragmented offerings of the market. The fund had acquired Dar Al Balad Contracting (DAB), and MT Enterprises (MTE) that provide additional services alongside its existing portfolio. The portfolio of ECG Fund 2.0 provides a holistic and fully-integrated industrial services & solutions national champion that reduces the total cost of ownership for asset owners and operators in the Kingdom.
Alignment with national strategies & local content (localization)
ECG ties its mission to Saudi Arabia’s Vision 2030, the Aramco IKTVA program, and other government goals of boosting domestic value-chains, strengthening national champions, and reducing imports. This alignment helps ECG win regulatory support, incentives, and credibility. Also, by localizing supply chains and capabilities, ECG can reduce dependency on foreign suppliers (mitigating raw material/tech risk) and improve resilience against international disruptions.
Key Milestones
- Successful close and oversubscription of ECG2.0-Fund2
- Acquisition of Dar Al Balad Contracting (DAB) by Fund 2
- Acquisition of MT Enterprises by Fund 2
Funding Success
Funding Success
Energy Capital Group
ECG was founded by the merger of two investment firms, Cayan Holdings and ECG in 2021. Funded by Jada Fund of Funds (part of the Public Investment Fund). ECG has managed to secure it’s first raise of 150Mn USD.
ECG is focused on creating and developing KSA’s first industrial services and technology-oriented National Champion in the Energy Sector, in-line with Saudi Arabia’s Vision 2030 and Aramco’s IKTVA program.
ECG aims to execute on its vision by acquiring firms that act as a “technology-bolt-on”, and vertically & horizontally integrate firms which allows for additional cost synergies and economies of scales.
Investment Rationale
Todays industrial services & solutions market is highly fragmented in the Kingdom. Current solutions faces serious coordination challenges, higher risk exposure, increase in cost inefficiencies, and often siloed approaches for projects. Asset owners and operators often are left with higher product cost per unit and lower margins, reduced availability and safety readiness, impaired asset reliability & lifecycle impairment, and significantly higher impact on sustainability.
Solution
Building and consolidating industrial services platforms
ECG Fund 2.0 goal is to build a fully-integrated industrial services & solutions national champion that solves the fragmented offerings of the market. The fund had acquired Dar Al Balad Contracting (DAB), and MT Enterprises (MTE) that provide additional services alongside its existing portfolio. The portfolio of ECG Fund 2.0 provides a holistic and fully-integrated industrial services & solutions national champion that reduces the total cost of ownership for asset owners and operators in the Kingdom.
Alignment with national strategies & local content (localization)
ECG ties its mission to Saudi Arabia’s Vision 2030, the Aramco IKTVA program, and other government goals of boosting domestic value-chains, strengthening national champions, and reducing imports. This alignment helps ECG win regulatory support, incentives, and credibility. Also, by localizing supply chains and capabilities, ECG can reduce dependency on foreign suppliers (mitigating raw material/tech risk) and improve resilience against international disruptions.
Key Milestones
- Successful close and oversubscription of ECG2.0-Fund2
- Acquisition of Dar Al Balad Contracting (DAB) by Fund 2
- Acquisition of MT Enterprises by Fund 2
Funding Success
Funding Success
Key Personnel
Key Personnel
Abdulwahab Al Betairi
General Partner & IC Chairman
Ali Abdulaziz Al-Turki
Founding & Managing Partner
Thomas Stein
Senior Partner
Paul Sansom
Senior Partner
Abdulwahab Al Betairi
General Partner & IC Chairman
Ali Abdulaziz Al-Turki
Founding & Managing Partner
Thomas Stein
Senior Partner
Paul Sansom
Senior Partner