Acquisitions in Saudi Arabia

Watts Water Technologies has completed the acquisition of Saudi Cast, a Riyadh-based manufacturer of cast iron and stainless steel drainage solutions. Funded entirely with cash on hand, the deal expands Watts’ footprint in Saudi Arabia and the broader Middle East and strengthens its nonresidential and industrial drainage systems offerings.

Aberdeen Investcorp Infrastructure Partners (AIIP), Investcorp’s infrastructure platform jointly owned with Aberdeen Investments, closed the acquisition of a significant minority equity interest in Al Fadhili Field House for Real Estate Development Company in Saudi Arabia. AIIP joined an existing partnership/consortium led by MAWREF Logistics Solutions, which developed the Fadhili housing complex that provides accommodation and services for workers supporting Saudi Aramco operations in the Eastern Province. The deal represents AIIP’s first investment in Saudi Arabia.

Ball Corporation completed the sale of 41% of its 51% ownership interest in its Saudi Arabia joint venture, Ball United Arab Can Manufacturing Company (UAC), to a subsidiary of ORG Technology Co., Ltd. for approximately USD $70 million (subject to customary adjustments). Following the transaction, Ball deconsolidated UAC and retained a 10% ownership stake.

Jadwa Investment acquired a majority stake in Saudi retail concept Makhazen Alenaya through its Jadwa GCC Diversified Private Equity Fund. Makhazen operates 15 branches across Saudi Arabia and focuses on beauty and personal care through a multi-category specialist retail format. The investment is intended to support Makhazen’s expansion and operational scaling, with a longer-term goal of a potential listing on the Saudi Exchange’s Main Market.

Plat4mation, a global ServiceNow Elite Partner, acquired Unikomm, a Saudi Arabia-based pure-play ServiceNow Elite Partner, with Tequity acting as Unikomm’s exclusive financial advisor. The cross-border deal is intended to expand Unikomm’s capabilities and scale Plat4mation’s presence across Saudi Arabia and the broader GCC digital transformation market.

Excellera Advisory Group, backed by Xenon Private Equity, acquired Instinctif Partners’ Middle East and Arabic-speaking North Africa operations (Instinctif Partners MENA), a strategic communications consultancy specializing in financial and corporate communications. The acquired business will continue under its existing management led by founder CEO Samantha Bartel and will rebrand as “IP Excellera,” expanding Excellera’s footprint in the MENA region with offices in Riyadh, Abu Dhabi, and Dubai.

LetterOne (L1) announced a significant investment in Dayim Middle East Holding Company (DMEH), an equipment leasing and truck logistics/rental business operating in Saudi Arabia and the broader GCC region. The investment is intended to fund DMEH’s continued growth and supports L1’s plan to deploy substantial capital across the GCC over the next three years.

Giza Arabia, a subsidiary of Giza Systems owned by solutions by stc, acquired a majority stake in Logical Applications for Business Solutions (LABS), a leading SAP Gold Partner in the Middle East. LABS, headquartered in Jeddah and operating across Saudi Arabia, Egypt, Bahrain, and the UAE, will operate as part of Giza Arabia to expand combined SAP, cloud, and digital transformation capabilities and regional market presence.

Stagwell (NASDAQ: STGW) entered into an agreement to acquire Consulum, a pan-MENA government advisory consultancy. The deal strengthens Stagwell’s expansion in the Middle East and adds Consulum’s capabilities in strategic communications, public policy, and leadership support.

Investcorp led a $130 million pre-IPO investment round in Salla, a Saudi Arabia-based SaaS e-commerce enablement platform. Sanabil Investment participated alongside Investcorp, and existing shareholder STV also joined the round.

An entity managed by Investcorp acquired a majority stake in Nour Internet for Communication and Information Technology Company (NourNet), a Saudi Arabia-based provider of connectivity and ICT services. NourNet offers cloud, cybersecurity, managed services, and data center management to businesses across the Kingdom, and Investcorp intends to support the company’s expansion organically and through acquisitions.

Eurofins Scientific entered into a partnership with the shareholders of Saudi Ajal to acquire a majority stake in Ajal for Laboratories, a food, tobacco, and pharmaceutical testing laboratory based in Riyadh, Saudi Arabia. The deal marks Eurofins’ first acquisition in the Kingdom of Saudi Arabia and is intended to expand its local and regional laboratory network supporting food production and biopharma sectors in the country and broader Middle East.

The Western Union Company completed the acquisition of a minority stake in stc Bank (formerly Saudi Digital Payments Company / stc pay). Western Union acquired 15% ownership for $200 million, expanding its partnership as stc Bank launches as one of the first digital banks in the Kingdom of Saudi Arabia.