Arcapita acquires leading US signage company for over $100 million

Atif A. Abdulmalik, Arcapita’s chief executive officer
Updated 13 January 2018
0

Arcapita acquires leading US signage company for over $100 million

Arcapita, a global investment firm, has announced that it had acquired a controlling interest in MC Sign Company for a total transaction value in excess of $100 million.
MC Sign is a leading nationwide provider of signage and lighting services in the US.
Atif A. Abdulmalik, Arcapita’s chief executive officer, commented: “We are excited to complete a US private equity transaction and pleased to partner with the management team at MC Sign to help grow the company’s suite of services and customer base.”
He added: “MC Sign is led by a very experienced team of professionals who have grown the business considerably over the past few years, and we believe the company is well positioned to acquire market share in a highly fragmented industry that is dominated by locally focused, sub-scale service providers.”
Abdulmalik said: “Over 75 percent of MC Sign’s customers are blue chip companies with national presence and, attesting to the company’s value proposition, MC Sign has averaged an industry-leading customer retention rate of 99 percent since 2012.”
Martin Tan, Arcapita’s chief investment officer, said: “MC Sign acts as a comprehensive one-stop-shop for customers, eliminating the need to manage multiple relationships with local vendors across diverse geographies. This is especially beneficial for companies with a national or regional footprint.”
Tan said: “We believe the company has significant potential to grow organically and through acquiring smaller regional service providers. Given the repeat nature of customer demand, MC Signs also benefits from a sizeable and growing recurring revenue base. We are excited to bring this opportunity to our investors and are optimistic about the company’s growth prospects.”
Founded in 1953, MC Sign provides signage and lighting services to customers across the US through a highly scalable, vendor-managed, and asset-light business model.
MC Sign has more than 275 customers, many of whom have been with the company for over a decade. 


King Abdullah Port sponsors logistics forum

Updated 18 September 2018
0

King Abdullah Port sponsors logistics forum

King Abdullah Port has signed an agreement to sponsor the Supply Chain and Logistics Conference organized by the Transport Ministry. The conference, which will take place on Oct. 15-16 in Riyadh, will be held under the patronage of Transport Minister Dr. Nabil M. Al-Amoudi. Decision-makers, experts and officials from major local and international companies involved in the supply chain and logistics sector are expected to attend.

Highlighting the importance of participating in the event, Rayan Qutub, CEO of King Abdullah Port, said: “Our sponsorship of the conference comes within our commitment to cooperate and exchange expertise with the active players of the logistics sector, which recently has been witnessing major developments in terms of business volume, innovation and solutions that complement Vision 2030 and transform Saudi Arabia into a global logistics hub by promoting its position on the Logistics Performance Index issued by the World Bank.”

“Saudi Arabia has a number of components and facilities that enable it to play a key role in this sector at the regional and global levels, and we will play our part in showcasing the best King Abdullah Port has to offer in the logistics sector, such as solutions and facilitation for investors based on the port’s strategic location on the Red Sea. The port is on the main shipping line between the East and West, which significantly enhances the Kingdom’s competitiveness and positions it among the key countries in global trade,” he added.

Qutub will participate in a session for CEOs, where participants will discuss strategic decisions to reshape and keep pace with the global system of supply chains and logistics.

King Abdullah Port previously announced an increase in container handling reaching 1,236,075 TEU during the first half of 2018, marking a new record of 50.5 percent increase compared to the same period last year. Earlier, the port announced a 21 percent increase in its annual throughput by the end of 2017, making it the second largest port in the Kingdom in terms of container handling. 

Run by the Ports Development Company, King Abdullah Port is the region’s first port to be fully owned, developed and operated by the private sector. It has been listed as the fastest growing container port in the world and one of the world’s top 100 ports after less than four years of operation. Eight of the largest shipping lines work at the port, which offers integrated services to exporters and importers.