14 March 2004
Chescor Capital, an international investment boutique operating in the Middle East, Europe and India, and Executive Consultants, a strategy and corporate consultancy with an extensive client base in Dubai, have announced the merger of their businesses with immediate effect. The merger will create a leading force in business consulting and corporate and project advisory services, with solid international capabilities and a powerful presence in the UAE.
Mr. Tim Griffiths, a director and the founder of the Chescor Capital Group, said, “Chescor Capital has made a strategic decision to expand its delivery capabilities in the GCC, and we chose Dubai for its large base of professionally-managed organizations to which we feel we can add substantial value. Executive Consultants has an impressive record of financial closures and is ideally placed to tap into the Dubai corporate scene. This merger should therefore place us in pole position to serve our corporate clients and help them grow in the rapidly developing regional markets.”
“We sought to join forces with a strong professional organization which could help us address the expanding market opportunities in Dubai and reinforce the quality of service to our clients,” said Sameer Al Ansari, Founder & Director of Executive Consultants. “After talking to a number of regional and international firms, we selected Chescor Capital because their business approach and culture closely fitted ours. I strongly believe that the depth of experience in the combined business will provide a powerful and exciting resource for international and UAE based clients.”
The Chescor Capital Group includes a London-based corporate finance advisory firm authorised by the UK’s Financial Services Authority to conduct business throughout Europe, and a corporate finance advisory and fund management firm registered with the Mauritius Securities Commission. Chescor Capital’s principal activities include corporate finance, project finance and development, acquisitions, disposals and joint ventures, Offset solutions and private equity. In the UAE, it has been advising National Central Cooling Company (Tabreed) on its financing strategy since 1999, which has included debt syndications amounting to nearly AED 1 billion. Chescor Capital also created and managed the first approved Offset Fund in the UAE.
Created 3 years ago, Executive Consultants is a medium-size corporate finance advisory and business consulting firm offering services such as corporate & project finance, fund raising and private placements, business consulting, corporate structuring and restructuring, strategic planning, valuations, and mergers & acquisitions. It acted as the advisor to the AED 500 million long term facility arranged to finance the BurJuman expansion and is the exclusive UAE representative of A T Kearney, a global strategy firm.
Under the merger arrangements, Executive Consultants becomes a wholly-owned subsidiary of the Chescor Capital Group. In the UAE, corporate clients of the combined group include many prestigious names such as Tabreed, Al Jaber Establishment, Emirates Trading Agency (ETA), UAE Offset Group, Dassault Aviation, Tejari, TECOM, Dubai Development & Investment Authority, Dubai Development Board, Jumeirah Beach Residences and Dutco Group.
-Ends-
Mr Tim Griffiths
Director
Chescor Capital Group
315, CNN Building
Dubai Media City
Dubai
Telephone: +971 4 3910941
Fax: +971 4 3910943
http://www.chescorcapital.com
http://www.exec-consultants.com
Chescor Capital, an international investment boutique operating in the Middle East, Europe and India, and Executive Consultants, a strategy and corporate consultancy with an extensive client base in Dubai, have announced the merger of their businesses with immediate effect. The merger will create a leading force in business consulting and corporate and project advisory services, with solid international capabilities and a powerful presence in the UAE.
Mr. Tim Griffiths, a director and the founder of the Chescor Capital Group, said, “Chescor Capital has made a strategic decision to expand its delivery capabilities in the GCC, and we chose Dubai for its large base of professionally-managed organizations to which we feel we can add substantial value. Executive Consultants has an impressive record of financial closures and is ideally placed to tap into the Dubai corporate scene. This merger should therefore place us in pole position to serve our corporate clients and help them grow in the rapidly developing regional markets.”
“We sought to join forces with a strong professional organization which could help us address the expanding market opportunities in Dubai and reinforce the quality of service to our clients,” said Sameer Al Ansari, Founder & Director of Executive Consultants. “After talking to a number of regional and international firms, we selected Chescor Capital because their business approach and culture closely fitted ours. I strongly believe that the depth of experience in the combined business will provide a powerful and exciting resource for international and UAE based clients.”
The Chescor Capital Group includes a London-based corporate finance advisory firm authorised by the UK’s Financial Services Authority to conduct business throughout Europe, and a corporate finance advisory and fund management firm registered with the Mauritius Securities Commission. Chescor Capital’s principal activities include corporate finance, project finance and development, acquisitions, disposals and joint ventures, Offset solutions and private equity. In the UAE, it has been advising National Central Cooling Company (Tabreed) on its financing strategy since 1999, which has included debt syndications amounting to nearly AED 1 billion. Chescor Capital also created and managed the first approved Offset Fund in the UAE.
Created 3 years ago, Executive Consultants is a medium-size corporate finance advisory and business consulting firm offering services such as corporate & project finance, fund raising and private placements, business consulting, corporate structuring and restructuring, strategic planning, valuations, and mergers & acquisitions. It acted as the advisor to the AED 500 million long term facility arranged to finance the BurJuman expansion and is the exclusive UAE representative of A T Kearney, a global strategy firm.
Under the merger arrangements, Executive Consultants becomes a wholly-owned subsidiary of the Chescor Capital Group. In the UAE, corporate clients of the combined group include many prestigious names such as Tabreed, Al Jaber Establishment, Emirates Trading Agency (ETA), UAE Offset Group, Dassault Aviation, Tejari, TECOM, Dubai Development & Investment Authority, Dubai Development Board, Jumeirah Beach Residences and Dutco Group.
-Ends-
Mr Tim Griffiths
Director
Chescor Capital Group
315, CNN Building
Dubai Media City
Dubai
Telephone: +971 4 3910941
Fax: +971 4 3910943
http://www.chescorcapital.com
http://www.exec-consultants.com
© Press Release 2004
