Acwa Field Services, the field maintenance and technical services subsidiary of Saudi-listed Acwa, has acquired the steam turbine services business of EthosEnergy in Wrocław, Poland, the company announced on Monday.
The acquisition marks Acwa Field Services’ first entry into the European Union and forms the first step in a broader international growth strategy.
The deal transfers 85 employees, specialist equipment, intellectual property, established contracts and a contracted service backlog to Acwa Field Services, which will operate the business as Acwa Field Services Poland.
The two companies did not disclose the value of the deal, which will see Acwa Field Services acquire an established steam turbine services business with a skilled workforce, specialist equipment and a live contract base already operating in the market.
According to Acwa Field Services, the deal strengthens the company’s steam turbine field services capability, adds specialized engineering and technical expertise, and widens its execution footprint across Europe, providing a platform to grow both transactional and long-term contractual work in the region and beyond.
“Acwa Field Services is central to how we protect and extend the value of the assets we operate, while enhancing our competitiveness,” said Matthew York, President of Acwa Operations.
“This acquisition is a clear statement of intent. Owning a specialist maintenance capability, rather than contracting it out, gives us greater control over performance, cost, and reliability across our fleet,” he said.
According to York, acquiring EthosEnergy's steam turbine business in Poland gives Acwa Field Services the team, the technical depth, and the customer relationships to build a strong European service business.
EthosEnergy's Wrocław operation complements Acwa Field Services' existing offering and strengthens the platform on which the subsidiary intends to grow a portfolio of transactional and contractual work in Europe and beyond.
“As we continue reshaping EthosEnergy, this transaction supports our strategy to simplify our portfolio and strengthen our focus on core operations,” said Ana Amicarella, Chief Executive Officer of EthosEnergy.
She said the Steam Turbine Business in Wroclaw is joining an organization that aligns closely with its expertise and long-term growth ambitions.
“We are confident that, as part of Acwa, the business will continue delivering the exceptional service, technical excellence, and customer support for clients across the Oil & Gas, Power Generation, and Industrial Manufacturing sectors,” Amicarella noted.
Acwa Field Services Poland will operate as an integral part of the Acwa global group of companies, extending the subsidiary's reach into the wider power generation industry, including independent power producers, government utilities and the oil and gas sector.
Acwa's current portfolio spans 111 assets across 16 countries, representing 468.9 billion Saudi riyals ($125 billion) of assets under management, a foundation few private developers anywhere can match.
