The deal, valued at around AED 708 million (approximately Rs 1,530 crore), is part of SEPC’s strategy to expand its global footprint in the oil and gas engineering sector.
The transaction will be executed through a share swap arrangement and is expected to be completed within six months, subject to approvals from lenders and shareholders.
Avenir is an established engineering consultancy firm specialising in oil and gas engineering, front-end engineering design (FEED), and project management consultancy, with a strong presence in the Middle East and North Africa (MENA) region. It has an order book of approximately AED 500 million and counts ADNOC and DEWA among its key clients.
SEPC said the acquisition will enable its entry into the global oil and gas EPC and consulting ecosystem, while strengthening international execution capabilities and geographic diversification. It is also expected to provide access to higher-margin engineering services and create a scalable growth platform in the MENA region.
The company added that the move aligns with its long-term strategy of building a globally diversified engineering platform and enhancing value creation through synergies in engineering, procurement and project execution.
Avenir reported revenue of AED 73.93 million in FY24, compared with AED 69.17 million in FY23 and AED 31.91 million in FY22.
SEPC, formerly Shriram EPC, is an EPC company offering turnkey solutions across water and wastewater, roads, industrial infrastructure and mining sectors, serving both central and state government clients in India.
The company’s consolidated zoomed 236.9% to Rs 14.96 crore on 156.3% jump in revenue from operations to Rs 340.97 crore in Q3 FY26 over Q3 FY25.