Unicorn Investment Bank has announced the acquisition of a 55 per cent equity stake in Bahrain-based Gulf Strategic Partners, which offers pre-operational cleaning services for petrochemic
Unicorn Investment Bank has announced the acquisition of a 55 per cent equity stake in Bahrain-based Gulf Strategic Partners, which offers pre-operational cleaning services for petrochemical, power, oil and gas and process facilities, by Unicorn Global Private Equity Fund I.
Gulf Strategic Partners is based in Manama and operates throughout the Gulf Co-Operation Council region, where it has partnerships with international companies to provide high-technology solutions to industry, and India.
The firm’s services include chemical cleaning, steam blows, hydro milling, high velocity flushing and decontamination cleaning. Its technology solutions allow cleaning of new and existing facilities much faster and more effectively than conventional processes, and demand for these services is growing rapidly as new plants are commissioned across the region.
‘Gulf Strategic Partners has developed outstanding technology solutions to serve the largest industries in the region, oil, gas and power,’ says Aamir Khan, managing director of global private equity at Unicorn.
‘There is growing demand for their services and they have already developed relationships with some of the largest players in the region, which is remarkable for such a young company. We look forward to working with Gulf Strategic Partners’ highly experienced management team to support the company’s next phase of growth throughout the region.’
Gulf Strategic Partners managing director Wayne Giles says: ‘Our partnership with Unicorn will provide us with the capital we need to grow our business and take it to the next level. We are witnessing tremendous demand for our services and are excited at the opportunity of working with Unicorn’s team to explore regional expansion opportunities.’
The investment is the fifth by Unicorn Global Private Equity Fund I, which has previously taken stakes in Orimix Concrete Products, a leading ready-mix concrete producer based in Fujairah in the United Arab Emirates, Al Assriya Industries in Kuwait, Precision Time in Utah and Ellington Leather in Oregon.
