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Mon 1 Jan 2007 04:44 PM

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It’s official: New name for EFS and expansion plans

Last month, the facilities management company formally known as EFS, officially changed its name to EMCOR Facilities Services Group.

Last month, the facilities management company formally known as EFS, officially changed its name to EMCOR Facilities Services Group.

Scott Wilson, managing director of the company, said: "Following our extensive business planning and development process over the past 18 months, we, together with our strategic local partners, have formally launched our integrated facilities services operations in Dubai, Abu Dhabi and Kuwait and intend to establish FM operations in Qatar, Bahrain, Oman and Jordan."

The company also unveiled an expansion plan and announced and an opportunity for investors in the MENA region to purchase shares via a private placement of its Dubai-based operation, EMCOR Facilities Services Group.

Major shareholders are EMCOR - a global company which provides end to end total facilities services, mechanical and electrical construction, energy management and infrastructure - and Drake and Scull Group which concentrates on the construction contracting business in the Middle East.

"The impressive growth already experienced in Dubai and Abu Dhabi is evidence of the enormous potential of the company in the whole Middle East market - which combines the world's fastest real estate growth with the absence of a dominant facility management operation," said Tony White, CEO of EMCOR Group UK.

Arranged by Dubai-based investment bank Al Mal Capital PSC, which will be advising the company on its expansion strategy, and has already structured the financing for EMCOR's business activities across the region.

Naser Nabulsi, executive chairman of Al Mal Capital, said: "This transaction is the culmination of significant structuring and arrangement efforts by our bankers, working closely alongside the senior management team at EMCOR and Drake and Scull. Its expansion plan is an important statement on the strength and future potential of the property market in the region."

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