BlueFive Capital has acquired a 70 percent stake in Gulf Cobla, a UAE-based dredging and land reclamation company with a track record across the Middle East and South Asia.
As part of the transaction, BlueFive Capital will acquire the entire 49 percent shareholding held by Advanced Dynamics Investments, an affiliate of Saudi Binladin Group, together with a 21 percent stake from Dutco Group.
Following the transaction, Dutco will continue to remain a shareholder in Gulf Cobla with a 30 percent stake in the company, as per the statement.
Hazem Ben-Gacem, Founder and Chief Executive of BlueFive Capital, said that, “We are delighted to announce this investment in Gulf Cobla, which marks our foray into infrastructure and real assets.”
“Gulf Cobla has built a trusted reputation over nearly five decades, and we see significant opportunity to support its next phase of growth through BlueFive Capital’s platform, network, and regional ecosystem,” Ben-Gacem added.
Nelson Gibb, Group CEO of Dutco, noted that, “We are pleased to continue our partnership in Gulf Cobla alongside BlueFive Capital. Gulf Cobla is a company with a strong legacy, an experienced management team, and a long-standing presence in the regional dredging market. With BlueFive Capital as a strategic partner in Gulf Cobla, we look forward to building on its established heritage and developing its capability further.”
According to the statement, both parties are now looking forward to working closely with Gulf Cobla’s management team to identify opportunities for expansion into high-growth regional markets, increase fleet utilization, and create new business opportunities.
