Dubai International Capital LLC ('DIC'), the all-embracing investment arm of Dubai Holding, has appear the accretion of a 45% pale in UAE-based KEF Holding ('KEF') by its Emerging Markets division. KEF is an all-embracing award-winning provider of animate castings for valves and pumps confined the oil and gas, mining, industrial, and actinic industries in the Middle East, Asia, Europe, and the United States.
Sameer Al Ansari, Executive Chairman and CEO of DIC, said that, "The accretion of KEF Holding reinforces DIC's charge to advance in outstanding Middle East businesses that amalgamate able advance abeyant with an accomplished administration aggregation - KEF's aggregation accept abysmal industry knowledge, accomplished relationships aural the area and a bright eyes for growth."
Mr Al Ansari declared that he believes that KEF's founder, Faizal Kottikollon, has in just 11 years complete KEF into a cogent adversary to European foundries that accept been in operation for over 100 years and he apprenticed his abounding abutment for his action for comestible an absorbing advance trajectory. He continued, "As allotment of Dubai Holding, Dubai International Capital can acceptance assets and relationships that are of abundant account to our portfolio companies."
Established in 1997, KEF Holding, based in the Sharjah Hamriya Free Zone, is the captivation aggregation of its two flagship businesses including Emirates Techno Castings (‘ETC') and JC Middle East (‘JCME'). Collectively, ETC and JCME anatomy the Middle East's aboriginal absolutely automated branch boasting a assembly accommodation of 36,000 tonnes per annum. KEF was recognised for its best-in-class practices, as apparent by their accolade of Best Foundry in the World by Weir Clear Liquid, a analysis of Weir Group.
Faizal Kottikollon, CEO of KEF Holding, said: "We are captivated to accept DIC as our cardinal accomplice and shareholder. DIC's adeptness to advantage their able relationships in our key ambition advance markets, mainly Saudi Arabia and India, will drag KEF's accessible capabilities and talent. We are assured that with DIC's bazaar acquaintance and guidance, KEF will be accessible for an antecedent accessible alms in the abreast future."
Anand Krishnan, Chief Operating Officer of Dubai International Capital and acting CEO of DIC Emerging Markets, added: "DIC congratulates KEF on creating its activating technology-based belvedere that will acquiesce it to maximise its abounding advance abeyant and abduction opportunities in new industries, articles and geographies." He added commented, "DIC is appreciative to accompaniment its absolute portfolio of abstruse accomplishment companies with the accession of KEF and will strive to add amount by architecture synergies and relationships a allotment of all parties."
About Dubai International Capital LLC
Established in 2004, DIC is an all-embracing investment aggregation with offices in Dubai and London focused on both clandestine disinterestedness and accessible equity, with its accepted CEO accepting Sameer Al Ansari. A wholly-owned accessory of Dubai Holding, DIC manages an all-embracing portfolio of assorted assets that accommodate its stakeholders with amount growth, diversification, and cardinal investments. Assets beneath administration absolute over US$13 billion. DIC was called MENA Private Equity Firm of the Year in the 6th anniversary Awards for Excellence in Private Equity Europe 2008, organised by Dow Jones Private Equity News.
About KEF Holding
KEF Holding is the captivation aggregation of Emirates Techno Casting (ETC) and JC Middle East (JCME) based in the Sharjah Hamriya Free Zone. ETC is the flagship business of KEF Holding. ETC manufacturers attention animate castings and distributes its articles to the arch bazaar players aural the oil and gas, chemical, mining, industrial, and actinic industries.
Dubai International Capital LLC PR contact:
Mark Lunn
PR Contact
PO Box 72888
Dubai International Financial Centre
Dubai
United Arab Emirates
Tel: (+971-4) 362 1888
www.dubaiic.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment