AD Ports Group acquires UAE’s Divetech to boost its maritime services offering – The National

AD Ports Group acquires UAE’s Divetech to boost its maritime services offering – The National

Abu Dhabi Ports Group, which operates ports, industrial cities and free zones in the emirate, has acquired Divetech Marine Engineering Services, a UAE-based topside-subsea solutions provider.

The 100 per cent acquisition will be fully funded from AD Ports Group’s existing cash reserves, the company said in a statement on Monday.

Divetech, which offers services including installation, inspection, repair and maintenance for ports and other maritime organisations, posted revenue of Dh87 million ($23.7m) and Ebitda of Dh20m in 2021.