Exclusive Networks Group has acquired Dubai-based Secureway, a security specialist value added distributor in the Middle East with clients in ten countries in the Gulf region and EUR50m turnover expected in 2013.
This operation follows the implementation last September by Omnes Capital and all shareholders of a capital increase of EUR12m for Exclusive Networks Group and acquisition financing of EUR60m raised entirely from ICG Senior Debt Partner.
Omnes Capital acquired a stake in the company in July 2010 during a primary LBO and owns 69 per cent alongside the chief executive officer, key managers, Edmond de Rothschild Investment Partners and Socadif.
The acquisition of Secureway will allow the Exclusive Networks Group to establish itself in the Middle East, the fastest growing region of EMEA, and to expand its portfolio of suppliers. New technologies represent a strong growing market in this area (over 10 per cent a year expected between 2012 and 2016), carried by the high demand in Saudi Arabia which represents 68 per cent of the demand in the Gulf region.
Olivier Breittmayer, chief executive of Exclusive Networks Group, says: “The acquisition of Secureway is completely in line with our strategy, we complete our geographical coverage with a company that shares a common vision and common values, led by a management team that I have known for many years.”
Fari Boustantchi, chief executive of Secureway adds: “We have become a major player in distribution in the Middle East and we believe that time has come to write a new chapter in this success. Joining the only independent pan-EMEA group specialised in value added distribution of security solutions seemed obvious.”
Philippe Zurawski, partner, Omnes Capital, says: “We are delighted to see the Exclusive Networks Group finalise this acquisition and start deploying the new resources provided. This first operation opens up new very attractive markets.”
The company maintains its stated aim to make three acquisitions per year, and to reach revenues of EUR1bn by 2017. Following the acquisition of Secureway, the group’s annual revenue target for 2013 has been revised to EUR400m.
