DUBAI: Gulf Capital, a prominent private equity firm with a robust investment portfolio spanning the Gulf Cooperation Council (GCC) and extending to Asia, has recently announced its successful exit from Kuiper Australia, a manpower outsourcing company in the offshore energy sector.
The transaction, structured as a management buyout and supported by the National Bank of Australia, exemplifies Gulf Capital’s strategic approach to investment and divestment within the dynamic landscape of the offshore energy sector.
The exit from Kuiper Australia, a carve-out from the larger Kuiper Group, underscores the firm’s commitment to fostering growth and operational synergies among its portfolio companies.
The leadership of Mark Somic, who will continue to serve as the Chief Executive Officer of Kuiper Group, plays a crucial role in ensuring continuity and stability during this transition. His ongoing stewardship will enable both Kuiper Australia and Kuiper Group to leverage their respective strengths while maintaining a collaborative relationship.
Proactive approach
The arrangement is particularly advantageous for clients, who will continue to benefit from the synergies and shared expertise of both entities, despite their newfound independence.
The strategic nature of this sale not only reflects Gulf Capital’s adeptness in navigating complex transactions but also highlights its focus on enhancing the operational capabilities of its portfolio companies.
This successful exit is not an isolated achievement for Gulf Capital; it marks the firm’s second exit within a month, following the divestment from Middle East Glass in Egypt. Such timely and strategic exits demonstrate Gulf Capital’s ability to identify and capitalise on favourable market conditions, thereby maximising returns for its investors.
The firm’s proactive approach to managing its portfolio is further illustrated by its recent acquisition of a majority stake in OCB Oilfield Services, a leading Dubai-based oil and gas offshore crew provider.
Strong track record
The acquisition has positioned Gulf Capital to expand its footprint across Asia, particularly through the subsequent acquisition of Singapore-based Kuiper International, a key player in offshore construction and maintenance services.
Gulf Capital’s strong track record of expanding its Gulf-based companies into Asian markets through both organic growth and strategic acquisitions is noteworthy. The acquisition of Kuiper International serves as a prime example of the firm’s commitment to fostering growth in the offshore sector, especially in the Asia Pacific region and Australia.
With offices strategically located across the Gulf region and Singapore, Gulf Capital has effectively established itself as a pivotal player in the private equity landscape, facilitating cross-border investments that enhance the operational capabilities of its portfolio companies.
