Bluewater Energy LLP has successfully sold engineering firm Kent to Saudi Arabian contractor Nesma & Partners, marking a strategic exit that supports Bluewater's ambitions to raise a new $1.5 billion fund aimed at enhancing investments in the energy transition.

Information on the Target

Bluewater Energy LLP has successfully exited its investment in Kent, an engineering firm, by selling it to Saudi Arabian contractor Nesma & Partners Contracting Co. Ltd. This transaction marks a significant milestone for Bluewater, which focuses on investments that contribute to the energy transition. Founded in 2011 and headquartered in London, Bluewater has been actively involved in enhancing technologies within the energy sector to support cleaner and more efficient practices.

Under Bluewater's stewardship since acquiring Kent in 2015, the company grew from generating approximately $200 million in annual revenue to $1.4 billion over eight years. With a robust portfolio that includes projects across multiple energy sectors such as conventional and renewable energy, water processing, and carbon capture, Kent exemplifies Bluewater’s commitment to fostering decarbonization initiatives.

Industry Overview in the Target's Specific Country

The energy industry in Saudi Arabia is undergoing a significant transformation, driven by the country's Vision 2030 initiative which aims to diversify the economy beyond oil dependency. As part of