SINGAPORE / HOUSTON — 13 JAN 2026 — ELITE Oil & Gas (ELITE) today announced its acquisition of the hazardous-area training business of EUTEX International Pte Ltd (EUTEX), a portfolio company of global diversified investment and management firm Sutherland Holdings International. The deal bolsters ELITE’s specialist training capacity across Asia and the Middle East, while allowing EUTEX to focus its efforts on expanding its products and certification divisions within the United States.

Aligning with ELITE’s expansion in Asia and the Middle East, the acquisition includes EUTEX’s hazardous-area training operations, internationally recognized CompEx and IECEx courses, as well as the associated staff and training centers in: Singapore, Kuala Lumpur, Malaysia, Rayong, Thailand, Abu Dhabi, UAE, and Yangon, Myanmar.

All centers deliver accredited CompEx, IECEx and hazardous-area training programs for technicians, inspectors and engineers working in combustible areas. With this move, ELITE already active in multiple countries including India, Singapore, UAE and Oman deepens its training footprint and expands service capability across the region.

“This acquisition represents a significant advancement for the ELITE Group,” said Ramesh Babu, Chairman, and Saravana Bava, Vice Chairman. “By acquiring EUTEX’s established hazardous-area training business and its network of CompEx and IECEx centers, we can immediately scale our training offering.”

A significant milestone for both parties, the transaction enables EUTEX to sharpen its focus on product distribution and certification growth in the U.S., while optimizing resources around the company’s core strategic priorities.

Under the transaction, EUTEX will retain training capabilities for North America, including CompEx, NEC 500 / NEC 505, and IECEx-related programs.

“We are excited about this transaction with ELITE,” said Tommy Sutherland, CEO of EUTEX and Founder of Sutherland Holdings International. “This allows EUTEX to concentrate fully on expanding our training, product distribution, and certification divisions, where we see significant growth opportunities in hazardous-area product supply and compliance services across the U.S. and globally.”

This deal follows the recent acquisition of EUTEX’s global hazardous-area inspection services business – Eutex International Pte Ltd in Singapore – by K2 Energy Group (announced this past November).

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ELITE Global Oil & Gas Pte. Ltd. (Singapore) is a renowned global service provider to the oil & gas and maritime sectors. The ELITE Group delivers IECEx and CompEx training programs through a licensed learning facility, specializing in hazardous area safety and compliance. Learn more at: https://eliteoilandgas.com

About Eutex Inc
Headquartered in Houston, Eutex Inc is a U.S. provider of electrical cables, hazardous area products, training, and certification, serving customers across the USA, UK, and APAC. To learn more, visit: https://www.eutexinternational.com/.

About Sutherland Holdings International
Founded by entrepreneur Tommy Sutherland, Sutherland Holdings International is a diversified investment and management firm with a global portfolio spanning energy, technology, and industrial services. The company focuses on building businesses that deliver long-term value through innovation, operational excellence, and strategic partnerships. To learn more, visit: https://sutherlandholdingsintl.com/.