Acquisitions in United Arab Emirates

Piper Sandler Companies has completed the acquisition of MENA Growth Partners, a merchant bank headquartered in Abu Dhabi. The deal establishes MENA Growth Partners as Piper Sandler’s strategic investment banking hub and regional center across the GCC, expanding its local presence and connectivity for M&A, capital markets, and private capital advisory work; financial terms were not disclosed.

Premialab, a provider of data, analytics, and risk management tools for quantitative investing, secured a $220 million growth investment led by KKR, with existing investor Balderton also participating. The capital will support Premialab’s global expansion, accelerate product development, and scale operations, including growth of its QIS execution offering developed with Eurex.

Mitsubishi Electric Corporation completed the acquisition of all shares of AG MELCO Elevator Co. L.L.C., an affiliated elevator company headquartered in Dubai, making it a wholly owned subsidiary. The shares were acquired from Rawafed Almustaqbal Group L.L.C., a wholly owned subsidiary of Al Ghurair Investment L.L.C. Mitsubishi Electric expects the deal to strengthen its elevator maintenance and renewal operations in the Middle East and support its global building systems business.

IVI RMA Global announced it has completed the acquisition of ART Fertility Clinics, a fertility care provider with operations in the United Arab Emirates and plans to expand into Saudi Arabia. The deal establishes the Middle East as IVI RMA Global’s fifth operating region, adding ART Fertility’s clinical footprint and research capabilities to IVI RMA’s global reproductive medicine platform.

DataCamp, an online learning platform for data and AI skills, has completed the acquisition of Optima, a Dubai/UAE-based AI-native learning platform focused on personalized, adaptive education. Optima founder and CEO Yusuf Saber will join DataCamp as Chief AI Officer and Optima’s full team will integrate into DataCamp, with Optima’s technology expected to be rolled out more broadly across DataCamp over the next six months.

Marjan and RAK Hospitality Holding announced a strategic merger to create a unified entity operating under the Marjan brand. The combination brings together land development and hospitality operations to integrate real estate development, hospitality, and lifestyle experiences under one organization in Ras Al Khaimah, United Arab Emirates.

EarlyHealth Group acquired a 50% equity stake in CYB3R Limited, a Dubai-headquartered cybersecurity firm. The investment is intended to embed CYB3R’s cybersecurity capabilities into EarlyHealth’s global life sciences platform, scaling CYB3R internationally and expanding turnkey security solutions for life sciences and government organizations.

NEP Group acquired Dubai-based Seven Production, an independent film and broadcasting production company, to expand NEP’s live production services presence in the Middle East/GCC region. Seven Production will be integrated into NEP’s Middle East and Asia regional grouping, with Seven’s Managing Director Pierre Tabet continuing in a leadership role within NEP’s Middle East business. Financial terms were not disclosed.

Anderson Global, an international corporate and fund services platform formed in 2023 by an affiliate of Sun European Partners, announced the acquisition of Clearview, a Dubai-based provider of corporate and financial services for high-net-worth individuals. The deal expands Anderson Global’s existing Dubai presence by integrating Clearview’s team, expertise, and client relationships. The acquisition is Anderson Global’s tenth overall and third in Dubai, following prior integrations of ABC and SEAL in the region.

Tabreed and CVC DIF entered a partnership to acquire PAL Cooling Holding from Multiply Group for an equity value of approximately AED 3.8 billion, subject to customary regulatory approvals. PAL Cooling operates eight long-term district cooling concessions in Abu Dhabi serviced by five existing plants, with additional capacity under construction and planned, positioning the business for significant growth.

Crystal Intelligence announced at Token2049 Dubai that it is acquiring Scam Alert, a publicly accessible crypto scam reporting and detection platform originally created by Whale Alert. Scam Alert will be integrated with Crystal’s blockchain analytics and clustering technology to improve fraud pattern detection and support collaboration with law enforcement and virtual asset service providers. Whale Alert will remain involved as an advisory partner to help expand Scam Alert’s reach.

CRTS Global LLC acquired RAE Energy’s coatings business, RAE Coatings, to expand its internal and external pipeline field joint coating capabilities for offshore and other pipeline markets. CRTS Global is a portfolio company of Voyager Interests, and RAE Energy sold the unit to focus on expanding its nondestructive testing businesses, Prime Inspections and UT Quality.

The Vertex Companies, LLC ("Vertex"), a portfolio company of Wind Point Partners, acquired CBBG Group Construction Expert Services, Ltd ("CBBG"), a construction expert services firm specializing in disputes, arbitration, and technical consulting. The acquisition expands Vertex’s forensic consulting and expert testimony capabilities and extends its presence across Europe, the Middle East and Africa (EMEA).

Gordon Technologies LLC, an Enersol company, acquired Vertex Downhole Trading LLC ("Vertex UAE"), the Eastern Hemisphere business of Calgary-based Vertex Downhole Technologies Inc. The deal expands Gordon’s global reach in the Measurement While Drilling (MWD) market and includes the intellectual property rights to Winc, Winc+, and Mudlink technologies. Vertex UAE’s Dubai-based team will be integrated into Gordon to support customers across more than 30 countries.

e& (Emirates Telecommunications Group) completed the acquisition of a controlling stake (50% plus one economic share) in the service and infrastructure companies of PPF Telecom Group across Bulgaria, Hungary, Serbia and Slovakia, in partnership with PPF Group. e& also completed a 100% acquisition of GlassHouse, expanding the group’s overall footprint to 38 countries and strengthening its telecom and digital services presence in Central and Eastern Europe.

OCI Global completed the sale of its entire 50% plus one share stake in Fertiglobe to Abu Dhabi National Oil Company (ADNOC) for a purchase price of USD 3.62 billion on a cash-free, debt-free basis. Following closing, ADNOC increased its ownership in Fertiglobe to 86.2%, with 13.8% remaining as free float on the Abu Dhabi Securities Exchange.

3t, a UK-headquartered provider of safety-critical training, announced the acquisition of GTSC, the largest energy training business in the Middle East. GTSC was acquired from Al Mansoori Specialized Engineering, adding GTSC’s employees and training facilities and expanding 3t’s presence across Saudi Arabia, the United Arab Emirates, and Egypt. 3t is backed by private equity firm Bluewater and described this as its seventh acquisition since 2017.

Arcapita Group Holdings Limited and Dgpays, through an equal-partnership consortium, agreed to acquire a majority stake in NEOPAY, a UAE-based payment solutions provider, from Mashreq, which will retain a significant minority interest. The transaction implies an enterprise value of approximately $385 million and is subject to regulatory approvals. The consortium intends to support NEOPAY’s expansion across the Middle East digital payments market, leveraging Dgpays’ technology and Arcapita’s investment backing.

Trasna Holdings, an Ireland-headquartered IoT communications and semiconductor/software solutions provider, has acquired Workz, a Dubai-based pioneer in cloud-based eSIM solutions. The deal expands Trasna’s capabilities across mobile IoT technologies including SIM, eSIM, and system-on-chip (SoC) solutions by adding Workz’s eSIM/SIM hardware and software expertise, including over-the-air services, manufacturing, and data management.

AlephYa Education, a Dubai-based pan-GCC education provider, announced a majority investment from TA Associates to support its next phase of growth across GCC countries. Existing investors Gulf Investment Corporation (GIC) and Oman International Development and Investment Company SAOG (Ominvest) will retain meaningful stakes, while Ashmore Investment Saudi Arabia will fully exit its investment. Financial terms were not disclosed.

Infinite Reality (iR) announced the acquisition of Landvault for $450 million in an all-stock deal. Separately, Infinite Reality also raised a $350 million minority equity investment from a private multi-family office, valuing the company at $5.1 billion, as it continues to build out its AI- and immersive-technology platform.

A consortium led by CVC Strategic Opportunities Fund I and Fund II has agreed to sell a majority of its stake in GEMS Education to a consortium led by Brookfield Asset Management. CVC will retain a minority stake following closing, while existing minority shareholders including Khazanah Nasional Berhad will exit as part of the transaction.

VersiFi, a digital asset trading and lending firm, acquired Ather Digital for an undisclosed amount in a deal that closed in May 2024. The acquisition adds Ather’s direct market access, algorithmic trading, and smart order routing technology to VersiFi’s platform and brings Ather’s Abu Dhabi team into VersiFi. Manifold Capital Partners (which previously spun out Ather) and other investors will become minority shareholders in VersiFi.

OV Loop, Inc. acquired Cultos.io, a Web3 rewards application, to enhance OV Loop’s cross-platform tap-and-pay wallet/super-app and omnichannel commerce experiences. The deal is intended to expand loyalty, engagement, and commerce capabilities for consumers, merchants, and brands. Cultos Global (Dubai-based), which licensed Cultos’ Web3 platform, will continue servicing its customers across the Middle East, India, and parts of Asia.

Mercer, a Marsh McLennan business, completed its previously announced acquisition of The Talent Enterprise (TTE), a psychometric and talent assessment technology company headquartered in the United Arab Emirates. The deal expands Mercer’s talent assessment tools and capability development solutions for organizations, strengthening its HR transformation offering in the Middle East. Financial terms were not disclosed.

Nesma & Partners Contracting Co. Ltd. signed an agreement and subsequently completed the acquisition of Kent, a global energy engineering and project management/services firm. Kent had been backed by specialist energy private equity firm Bluewater since 2015, during which time Kent expanded globally and grew revenue to about $1.4 billion; financial terms were not disclosed.

Arcapita Group Holdings Limited has acquired The DataFlow Group, a credential verification and primary source verification (PSV) services provider focused on regulation-mandated pre-employment checks in the GCC. The DataFlow Group was acquired from EQT Private Equity and is expected to support Arcapita’s business services growth strategy across the GCC and other markets.

Envoy Global, Inc., owned by affiliates of Palladium Equity Partners, acquired Sesam Immigration, a corporate immigration services provider in the United Arab Emirates. Separately, Envoy’s law affiliates Corporate Immigration Partners, LLP and Global Immigration Associates, P.C. combined and simultaneously acquired Hammond Neal Moore, LLP to form Corporate Immigration Partners, P.C., which will be exclusively affiliated with Envoy. Financial terms were not disclosed.

ZainTech, the digital solutions arm of Zain Group, announced the acquisition of Adfolks, a UAE-based cloud-native engineering firm. The deal expands ZainTech’s digital transformation and cloud transformation capabilities, adding Adfolks’ expertise in modern infrastructure, application modernization, security, data & ML, and automation.

Abu Dhabi-based tech holding company e& (formerly Etisalat) signed a binding agreement with Uber Technologies to invest $400 million to acquire a 50.03% majority stake in Careem’s new spinout, Careem Technologies. Uber will continue to fully own Careem’s core ride-hailing business, while Careem Technologies will focus on scaling the Careem “super app” and its adjacent services, with Uber’s remaining stake in the spinout not disclosed.

Beyon Cyber, part of the Beyon Group, agreed to acquire a majority stake in DTS Solution, a cybersecurity advisory, consulting, and engineering firm. DTS Solution is headquartered in Dubai, United Arab Emirates, and the transaction is intended to expand Beyon Cyber’s regional footprint and broaden its cybersecurity offerings.

Convergint, a global service-based systems integrator, acquired MVP Tech, a UAE-based security and IT systems contractor. The deal expands Convergint’s presence across the Gulf Cooperation Council and broader Middle East and adds more than 200 employees, with MVP Tech leadership remaining in place.

Anghami Inc. (NASDAQ: ANGH) announced the acquisition of Spotlight Events, a live events and concerts company operating across the Middle East and North Africa region. Spotlight will become Anghami’s dedicated live events arm, combining offline concert execution with Anghami’s live video streaming and AR/VR capabilities to deliver hybrid physical and virtual entertainment experiences.

Air Liquide announced the sale of its Industrial Merchant business in the United Arab Emirates and Bahrain to Air Products Group. The transaction includes Air Liquide Emirates for Industrial Gases LLC (ALEMIR) and Air Liquide’s shareholding in Middle East Carbon Dioxide W.L.L (MECD), with 97 employees integrated into Air Products.

Cosmic Wire acquired Dubai-based ArtsGalore for $31.5 million. ArtsGalore is a fine art and custom automotives gallery that also develops NFTs, and its founder Mohamedali Rashid will join Cosmic Wire as Chief Revenue Officer as the company expands its presence in Dubai and the metaverse.

Marlin Equity Partners signed a definitive agreement to make a growth equity investment in The Marcura Group (Marcura), a vertical software, data intelligence, and payments platform serving the maritime industry. The transaction is subject to regulatory clearances and customary closing conditions, and financial terms were not disclosed.

DP World Logistics FZE (DP World) has successfully concluded its offer to acquire a 100% stake in Imperial Logistics Limited, with all conditions precedent and regulatory approvals fulfilled. The transaction will be implemented on 14 March 2022, and Imperial’s ordinary shares are expected to be delisted from the JSE on 15 March 2022.

Kent completed the acquisition of the majority of SNC-Lavalin's oil and gas division, expanding its international reach and capabilities across energy and low-carbon markets. The transaction is supported by a $65 million bond issuance and financial backing from Kent’s majority shareholder, Bluewater, and is expected to contribute more than $500 million in new contractual awards secured in H1 2021.

SCF Partners portfolio company Centurion Group acquired Specialist Services Group, a United Arab Emirates-based provider of modular buildings, production equipment, and other technical services. The deal is described as Centurion’s largest acquisition to date and is intended to expand Centurion’s footprint and capabilities across the Middle East and other international markets.

Clinical Trial & Consulting (CTI), an international contract research organization (CRO) headquartered in Cincinnati, Ohio, acquired Clinart, Inc., a Dubai-based regional CRO. The transaction, advised on the sell-side by FOCUS Investment Banking, closed in late August 2020 and is intended to expand CTI’s global footprint and capabilities across the Middle East and beyond.