In 2011, Standard Chartered Private Equity (SCPE) successfully closed two Private Equity deals in the Middle East region. In August of 2011, the bank announced the acquisition of a minority stake in Construction Products Holding Company (CPC) through an equity investment of $75 million. CPC is Saudi Arabia’s largest manufacturer and provider of building materials. In the same year, the Bank announced a $75million Mezzanine Investment in Hassan Mohammed Jawad & Sons BSC, a family-owned private company based in Bahrain.
“Since 2010, Standard Chartered has been in discussions with a wide range of regional companies to identify private equity and mezzanine investment opportunities. In the Middle East, private equity is increasingly becoming a primary solution for companies seeking growth capital, pre-IPO investments, or deleveraging solutions. With a strong balance sheet and a deep commitment and understanding of the region, Standard Chartered is ideally positioned to continue investing in our clients. We are humbled to receive this award which recognises our increasing leadership in the industry,” Taimoor Labib, Managing Director and Regional Head of MENA Private Equity at SCPEL, said.
“Private Equity is increasingly becoming a primary solution for companies seeking growth capital, pre-IPO investments, or deleveraging solutions,” he added.
Since 2002, Standard Chartered, through its Principal Finance Group, has invested approximately $5billion in more than 65 companies throughout Asia, Africa and the Middle East. The investments aim to provide growth capital to enable development and expansion, buy outs and acquisitions, and balance sheet restructuring. The Principal Finance Group invests directly in companies through Private Equity, Infrastructure, Real Estate and Distressed Investments.