Rapid rise for PE firm
Posted: 25 June 2007
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Private equity company Gulf Capital has announced sales of AED472.6 million and net profit of AED53.7 million for its first year of operation. Total equity stood at AED1,307.3 million and total assets at AED1,748.8 million.
Chairman Hareb Al Darmaki said: “In the space of twelve months, Gulf Capital has launched its operations, built a robust infrastructure, assembled a seasoned team of investment professionals, secured five major acquisitions and rapidly emerged as one of the most active private equity firms in the Middle East .”
Investments to date include Metito, the largest privately held water engineering and utility company in the Middle East and North Africa; Maritime Industrial Services (MIS), an onshore and offshore engineering, procurement, fabrication, construction and shipyard service provider; and Gulf Marine Services, a jack-up barge and offshore support vessel operating company in the.
One of the year’s highlights was the flotation of MIS on the Oslo stock exchange, the first Gulf based company to go public in Norway . |
