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Acquisition of oil and gas specialist

SE listed Adapt IT has acquired 100% of Aquilon, a South African based oil and gas specialist consultancy in a R98 million deal. This strategic acquisition will enhance Adapt IT’s expansion into Africa’s growing energy sector, strengthen the company’s presence in the Western Cape.

Aquilon, founded in 2006, designs, implements and supports SAP IS-Oil and other supply chain IT solutions in South Africa and internationally and services six of the major oil companies. Aquilon will form part of Adapt IT’s new energy division (specialising in Oil and Gas) and expands the group’s operational sites to include Cape Town. Cape Town is becoming a favoured international location for Business Process Outsourcing (BPO) and offshoring as global companies seek to remain competitive.

Derek Szabo, managing director of Aquilon says, “This business combination brings together the unique professional experience of Aquilon and Adapt IT, which will significantly enhance the company’s exciting energy strategy and strengthen our ability to improve controls and efficiency in the oil and gas supply chain.”