Lamprell buys Maritime Industrial Services

Gulf Capital and Amwal AlKhaleej, two leading Middle Eastern Alternative Investment firms, announced on Sunday the completion of the sale of their portfolio company, Maritime Industrial Services (MIS) to a regional trade buyer, Lamprell which is listed on the London Stock Exchange. The MIS sale of 100 per cent of the company for $336 million caps an almost five-year holding period by both firms during which revenues and profits were increased by 203 per cent and 184 per cent respectively. "MIS represents a solid case study for the Middle Eastern private equity industry. This is a good example of how private equity firms can add real value to their portfolio companies by growing operations, bringing in new management leadership, executing bolt-on acquisitions, launching regional and product expansions," said Dr Karim El Solh, co-Founder and Chief Executive Officer of Gulf Capital. From / Gulf News