- 3t, the UK-headquartered leader for safety-critical sector training, has acquired GTSC from Al Mansoori Specialized Engineering, raising its profile in the Middle East.
- This deal closely follows 3t’s recent acquisition of ALL STOP! in the US, and further strengthens its presence in the world’s leading energy hubs.
- Backed by specialist private equity firm, Bluewater, this is 3t’s seventh acquisition and will see its revenues break the $100mn milestone, up from $25mn just six years ago.
- Kevin Franklin, CEO of 3t: “I am thrilled to announce the completion of the acquisition of GTSC, the largest energy training provider in the Middle East. We know GTSC extremely well, and this acquisition will allow us to service customers old and new with an even better offer whilst building upon GTSC’s existing business. This transaction, alongside our recent acquisition of ALL STOP! in the US, is transformational for 3t and our international presence, and it underscores our shared vision of upskilling and growth in the Middle East.”
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3t, the UK-headquartered leader in the provision of training for safety-critical industries, has today announced it will make its seventh acquisition with the purchase of GTSC, the largest energy training business in the Middle East, bolstering its presence across the region in Saudi Arabia, the United Arab Emirates and Egypt.
3t has acquired GTSC from Al Mansoori Specialized Engineering. The acquisition sees over 100 GTSC employees and several purpose-built training facilities become part of 3t. Founded in 1993, GTSC has trained almost one million people in the Middle Eastern energy sector and has unrivalled regional facilities and heritage. The company boasts an extensive array of industry-accredited technical, offshore survival, HSE, firefighting and road safety training courses.
3t is backed by specialist private equity firm, Bluewater, whose value creation model has helped drive the company’s ambitious growth strategy which is centred on internationalisation and market diversity with the aim of becoming a global leader in safety critical training. This is 3t’s seventh acquisition since 2017 and closely follows its June 2024 acquisition of ALL STOP!, a leading safety-critical training business in the US.
The recent acquisitions position 3t on track to break through the $100mn revenue mark in 2024, following a record-breaking year of profitability and growth in 2023. This move is a key component of 3t’s transformational year, marked by the successful acquisitions of ALLSTOP! alongside a $100mn Nordic bond raise.
3t provides over 600 different training courses at 11 global centres, training more than 100,000 people every year to the highest industry standards. 3t is renowned for service quality and has built long-standing, highly-valued relationships with market leading customers. Its training provision is bolstered by its deep-rooted learning technology offering which includes its world-leading simulators, state-of-the-art virtual reality and digital twin technology, as well as a host of digital learning solutions and programmes. 3t has long-standing relationships in the Middle East, and already provides a broad range of services to the region.
With the training and development of skilled workforces in higher demand than ever, the acquisition will ensure personnel in the Middle East in safety critical roles across sectors including renewables and oil and gas meet the highest levels of safety, compliance and competence. The combined business offering will directly impact regional efforts to increasingly train its local workforce, ensuring they have the correct skillset required to meet the growing demand for energy and other safety critical industries
Kevin Franklin, CEO of 3t, says: “The Middle East is booming with projects across the whole energy spectrum; demand for world-class training and skilled workforce is high. Our offer of exceptional quality training and technology has proved compelling.”
He added: “The GTSC team has developed a strong business that is highly respected, with a track record that speaks for itself – we complement each other well, allowing us to invest and build a stronger service for our customers.”
Mario Nahas, CEO of GTSC, says: “I am delighted that GTSC has found a partner to support us on the next phase of growth. I am immensely proud of how the business has developed under the ownership of Al Mansoori and the support and leadership provided by their CEO Nabil Al Alawi. We have gotten to know 3t well and I am excited by the next phase of development for GTSC.”
Martin Somerville, Managing Director at Bluewater, added: “We are pleased to support the 3t management team on this next phase of their growth journey. Having built 3t into a clear UK market leader in recent years, this pivotal acquisition underscores the group’s international ambitions and their commitment to becoming a global powerhouse. Bluewater’s experience in the Middle East is quite unique for any private equity firm. We have actively been investing in the region for over 10 years and now have many of our portfolio companies based there. The recent sale of Kent, as well as this acquisition for 3t demonstrates our ability to successfully transact in this region hence it remains a strategic focus for us as we launch our third fund.”
Read the latest issue of the OGV Energy magazine HERE
Published: 23-09-2024
This post was originally published on here
