BAHRAIN: Investcorp, the asset management firm specializing in alternative investments, has decided to invest $98 million into Redington Gulf. The move will make Investcorp a significant minority shareholder of the company which is the leading distributor and service provider of IT and telecom products in the Middle East and Africa. This was announced here yesterday.
Investcorp will make the investment through its $1.1 billion Gulf Opportunity Fund I. The capital increase will be used to support Redington Gulf’s successful growth in the region. It will not only fund their organic growth, but also enable Redington Gulf to fund add-on acquisitions to expand their footprint and strong presence in countries throughout the Middle East and Africa.
Redington Gulf is at present a wholly owned subsidiary of Redington India Ltd. (REDIL), the globally distinguished IT distributor listed in India and operating in India, South Asia, the Middle East and Africa.
Redington Gulf is headquartered in Dubai, UAE, and currently operates on a standalone basis in the Middle East and key African countries with total revenues exceeding $1 billion for the last financial year.
Redington has established a solid and superior track record in performance and organic growth across many markets in the Gulf and the rest of the region.