Alternative manager, Gulf Capital, has purchased a “significant majority” stake in CWB Group, a Mena-based provider of intellectual property (IP) services.
The Abu Dhabi-based investment firm did not disclose how much it paid for the stake, nor the exact size of its share.
However, its chief executive Karim El Solh did state that the IP services market in Mena, Africa and Commonwealth Independent States is worth an estimated US$350 million and is expected to grow at 6% per annum for the next five years.
“This latest investment in CWB cements our established strategy of acquiring majority stakes in market leading companies regionally and taking them global,” said El Solh.
Chief executive Halim Shehadeh said: “We intend to expand rapidly into new geographies while leveraging our new partner’s experience in building global platforms out of the GCC.”
CWB was founded in 2006.
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