Business | General
Unitra sells majority stake to Adic Mena
Adic Mena Partners, a private equity fund managed by Abu Dhabi Investment Company (Adic), said it has acquired a majority stake in the Al Zarouni family's Unitra METS Group, a Dubai-based speciality beverage distributor, in a leveraged buy-out transaction.
- Staff Report
- Published: 23:56 October 22, 2008
Dubai: Adic Mena Partners, a private equity fund managed by Abu Dhabi Investment Company (Adic), said it has acquired a majority stake in the Al Zarouni family's Unitra METS Group, a Dubai-based speciality beverage distributor, in a leveraged buy-out transaction.
Unitra's 2008 revenues are expected to be in excess of Dh600 million, Adic said in a statement.
"The acquisition of the Unitra METS Group clearly highlights Adic Private Equity's strategy of buying majority stakes from family and other business owners, using a sensible amount of non-recourse, cash flow based financial leverage," the company said. "This strategy capitalises on a new market trend of family groups rationalising their portfolios and tying up with private equity groups."
Regional expansion
Najeeb Al Zarouni, chairman of Unitra METS Group said he looks forward to expanding the company's business regionally with the support of Adic.
The Adic Private Equity Group launched the Adic Mena Partners LP fund, a $500 million (Dh1.836 billion) buy-out fund with a commitment from Adic of $100 million.
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