May 1st, 2012
NBK Capital awarded Deal of the Year by the The Banker.
NBK Capital (“the Firm”) has been awarded Deal of the Year by prestigious financial magazine The Banker, part of the Financial Times Group in its annual Deal of The Year Awards.
The award comes after the successful sale of NBK Capital’s stake in Hanco (“the Company”) a leading fleet leasing and rental Company in Saudi Arabia, in a deal valuing the company at USD 140 million. The sale generated a significant return in excess of twice the initial investment for NBK Capital Equity Partners Fund I, the Firm’s private equity fund focused on providing growth capital to companies in the MENA region.
Established in 1976, Hanco is one of the largest fleet leasing and rental companies in Saudi Arabia. Since the Firm’s initial investment back in 2008, the Company witnessed record growth more than doubling its fleet size and revenue to become the second largest fleet leasing and rental company in the KSA.
Commenting on this achievement, CEO of NBK Capital, Salah Y. Al-Fulaij said, “NBK Capital takes pride in being selected by The Banker for Deal of the Year. Receiving this award is yet another great milestone for NBK Capital and is a reflection of our continued growth and focus on quality.”
Amjad Ahmad, Senior Managing Director at NBK Capital stated, “Winning this award underscores the dedication and effort of our investment team to drive growth and develop companies to achieve superior returns for investors."
NBK Capital Equity Partners Fund I, managed by NBK Capital as part of its Alternative Investments Group, is a USD 250.0 million private equity fund focused on acquiring strategic stakes in growth companies in the MENA region. The Fund specializes in an active investment approach to create long-term sustainable value through financial, strategic, operating and corporate governance enhancements.