KKR injects additional capital to support Joulon’s asset management platform
KKR has injected additional capital to support asset management services provider Joulon’s ongoing acquisition activity.
With KKR’s continued support, Joulon has completed its acquisition of Harris Pye Engineering Group Limited, a provider of engineering and project management services to the marine, offshore and industrial sectors.
Joulon’s platform provides comprehensive Asset Management services to the energy industry. The Company’s business model is based on acquiring businesses with established track records and complementary global expertise in maintenance, repair and overhaul (MRO) services to the oil and gas industry. By combining and enhancing these companies’ expertise and synergies, Joulon is able to offer truly integrated solutions to customers in the global energy industry.
Harris Pye is the latest addition to Joulon’s platform of well-established, global companies in the energy services and manufacturing segment. Since Joulon’s launch 18 months ago, the Company has completed 11 acquisitions, including: OES, Global One, Sara Sae, DSL, Excel Marco, JVS, CPC, Aggrego, STS, Thanh Ngoc, RAM Design and DronePro.
Ashish Shastry, Member and Head of Southeast Asia at KKR, says: “KKR is very pleased with Joulon’s progress in building a unique franchise that puts customers first by providing a high quality one stop solution to meet their global asset management needs in the fast moving energy industry. We look forward to building on Joulon’s success to date by deploying further capital into Joulon and helping the Company continue to grow, enhance its service offering and support its customers.”
Founders, Deepak Munganahalli, Chairman of Joulon and Abhishek Kumar, Vice Chairman and Group CEO of Joulon, says: “We are grateful to Joulon’s customers for their continued support and guidance. With a growing workforce of more than 2500 people and 50 workshops and offices worldwide, Joulon aims to be the global partner of choice for leading energy industry companies. With the continued partnership with KKR, Joulon is even better positioned to execute its growth strategy to develop a leading global energy services platform to address the specific requirements of asset owners and operators.”
The Project Management and Execution segment has become increasingly important given the impact the category has on customers’ total cost of ownership of assets. Joulon is committed to solving Project Management and Execution challenges for its customers and its latest acquisition of Harris Pye, further deepens the Company’s offerings across key verticals. Joulon will continue to acquire businesses and enhance its Project Management and Execution capabilities to assist customers as they undertake reactivation and modification projects in the coming years.