Dubai-based Emcor Facilities Services (EFS), a former subsidiary of Drake and Scull International, is planning to go public by 2014-2015 and a listing most likely on Dubai Financial Market, a top company executive told Emirates 24/7.
"We plan to go public in either 2014 or 2015; it is a work in progress," said Tarek Chauhan, EFS Group Managing Director.
The company will also increase its staff strength to 5,000 from the current 2,000 level in the next two years as it bids for more projects across the Middle East, he added.
“We will recruit 700 new people and reach the 2700 mark by February 2012. We will finally increase our staff strength to 5000 by end of 2012 or 2013,” said Chauhan.
The firm expects project backlog to reach worth Dh1 billion by the end of second quarter. It is currently expanding to India and Egypt besides spreading across the GCC countries.
In Dubai, EFS will complete an acquisition of a local airport management company shortly.
“The acquisition will be completed in the next two weeks time… we will eventually be bidding with the capabilities we acquire through this company.”
Chauhan said the company had finalized an acquisition in India, without disclosing the name of the company.
EFS is among one of the region's largest facilities management organisations and has Unilever, HSBC and Credit Suisse among its multinational client base.
The company has also set up a training and development centre and established a centre of technical excellence in an effort to develop local talent and integrate the UAE market.