The 100 per cent acquisition of Gulf Marine Services (GMS) by the leading private equity firm Gulf Capital has led to a change of guard.
Gulf Capital yesterday named a new executive management to lead GMS.
A team of industry professionals is joining recently elected chairman Rashed Al Suwaidi in executive management positions. The new members are Duncan Anderson as Chief Executive Officer, Mohammed Antar as Marine Manager, Ron McGuire as Operations Manager, and Jim Tait as Construction Manger.
Duncan Anderson, a UK chartered engineer, was earlier Chief Operating Officer at the UAE-based Lamnalco Group, where he managed a fleet of 90 vessels and increased their customer base in West Africa and the Middle East.
“In his new role as CEO, Anderson will be responsible for managing the future growth of GMS stemming from the projected increase in demand for marine off-shore-related projects in the oil and gas sector,” said a company statement.
“Since the acquisition of GMS we have managed to attract some of the most seasoned industry professionals, who will strive to enhance the business and bring best management and leadership skills to this high-growth enterprise. With this impressive executive team, I have no doubt GMS will achieve its ambitious growth targets and continue to lead the industry as the largest operator of jack-up barges in the region,” Gulf Capital CEO Karim El Solh said.
Gulf Capital is a leading alternative investment company focused primarily on investing locally raised capital in the GCC region.
Incorporated in Abu Dhabi in 2006 as a private joint stock company, Gulf Capital was established with a capital base of $330million (Dh1.225 billion).