Asset management firm Investcorp has announced that its Gulf Opportunity Fund is to acquire a 20% stake in Gulf Cryo, one of the Middle East’s leading manufacturers in industrial, medical and specialty gases.
Back in 2007, Investcorp launched a fifth line of business, Gulf Growth Capital (GGC), targeting a growing pool of buyout opportunities in the Gulf region.
Gulf Cryo is the third investment by the Gulf Opportunity Fund, its first investment being a minority stake in Redington Gulf, the leading distributor and service provider of IT and telecom products in the Middle East and Africa, and its second, a 70% stake in L’Azurde, the world’s fourth largest manufacturer of gold and jewellery and leading Middle East brand.
Investcorp’s President of Gulf Business Mohammed Al Shroogi said, $quot;This investment at this time is evidence that Investcorp continues to be successful in finding high quality investment opportunities and developing distinctive partnerships with leading Gulf names.$quot;
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