This marks Mumtalakat's fifth international investment in recent months as part of its ongoing global diversification strategy
Manama, Kingdom of Bahrain, 10th of August 2016
Bahrain Mumtalakat Holding Company Mumtalakat ("Mumtalakat"), the investment arm of the Kingdom of Bahrain, announces its acquisition of a significant equity stake in a UK-based specialised water treatment company, Envirogen Group S.A. ("Envirogen"). The acquisition was completed alongside Gecos Invest S.A. and Hermes GPE Environmental Innovation Fund LP through a joint investment syndicate led by Promethean UK Opportunities Fund II, LP ("PUOFII").
Envirogen is a specialised international provider of environmental technology and process solutions for the treatment of water, wastewater, vapour emissions and material recovery, with operations across Europe and North America. It offers water treatment and process filtration solutions to a predominantly blue chip customer base across a range of industries including food & beverage, chemicals & refining, mining and power.
Through its strategic alliance with Mumtalakat, Envirogen aims to expand its operations into the Kingdom of Bahrain and the GCC region to serve the vastly growing regional demand for effective water treatment solutions. As an active, value adding investor, Mumtalakat aims to leverage its strong regional knowledge and network to enable Envirogen to tap into regional growth opportunities.
Commenting on the successful closure of the transaction, Mr. Mahmood Hashim Alkooheji said: "We are delighted to have completed this investment in Envirogen, which meets our objective to invest in well-positioned international businesses with proven track records of performance and solid growth potential.
With its proprietary, innovative technology at the heart of its offering as well as its expertise serving a global client base, Envirogen has earned a strong reputation as a water purification industry leader. Through our representative on the Board of Envirogen, we aim to work closely with its experienced management team to fulfil the company's future growth objectives and expansion plans in the GCC region."
Mr. Andrea Davi, Chief Executive Officer of Envirogen added: "We are excited to have Mumtalakat as one of Envirogen's strategic shareholders, and we look forward to working with them on the expansion into the MENA region
Our strategy is to expand our business, by offering long term solutions to our customers based on our proprietary know-how through the service-to-operate model.
Envirogen has a skilled and experienced team in place to develop our presence in the region. Working alongside an active investor such as Mumtalakat provides Envirogen a unique opportunity to navigate and realise the significant potential of the GCC market."
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About Mumtalakat
Mumtalakat is a holding company mandated to grow the wealth of Bahrain through long-term investments based on sound financial, strategic and governance principles. Mumtalakat holds stakes in over 40 commercial enterprises, with a portfolio spanning a variety of sectors, including industrial manufacturing, financial services, telecommunications, real estate, logistics, consumer products and education.
For further information please contact:
Bahrain Mumtalakat Holding Company:
Fatema Alkhan
Corporate Communications
Direct: +973 1756 1282
Email: fatema.alkhan@bmhc.bh
© Press Release 2016
