Alkhabeer Capital has acquired a majority shareholding in Express Publishing and Investment Limited.
The acquisition marks Alkhabeer Capital Private Equity’s second transaction in the UAE’s industrial sector.
Alkhabeer Capital aims to expand the value of its private equity investments through facilitating and leading the growth of its portfolio companies in Saudi Arabia.
Express Group was founded in the UAE in 1990 and has a 20 year track record as a provider of corrugated and flexible packaging products. The company consists of two businesses: Express Pack Print, a manufacturer of corrugated packaging products for industrial use and consumer products; and Express Flexi Pack, which manufactures a broad range of flexible packaging materials including plastic OPP labels for beverage bottles and aluminium foil lids for single-serve food products.
Express Group has grown steadily since inception over two decades ago and today exports to more than 25 countries and serves a range of sectors including kitchenware, water and beverages, packaged and fresh foods, household and personal care.
“Our business has witnessed solid growth over the past two decades. Express Group is well-positioned to capitalise on the significant market opportunities that exist for our group in the coming years underpinned by the significant economic growth projected post winning Expo 2020,” says EPIL’s joint founders and owners Abdulla Zubair Mylanchikkal and Abdul Qadir Mohamed Theruvath. “We are therefore delighted to partner with Alkhabeer Capital and we are confident that this shall be a unique lever for growing our business in the coming years.”
Ammar Shata, Alkhabeer’s executive director and chief executive officer, says: “Our investment in Express Group demonstrates once again the expertise of our private equity business in terms of creating mutually attractive partnerships with ambitious business owners that have a solid track record in the Gulf. I look forward to working with Express Group’s shareholders and management team in the coming years and I am confident that our partnership will deliver significant value for all parties involved as we continue to grow the business.”
SHUAA Capital psc acted as the sell side advisor for Express Group on the transaction. Vinson and Elkins acted as legal advisor to Alkhabeer Capital and DLA Piper Middle East acted as legal advisor to the company.