Mumtalakat acquires stake in Envirogen Group
Bahrain Mumtalakat Holding Company, the investment arm of the Kingdom of Bahrain, has acquired a significant equity stake in a UK-based specialised water treatment company, Envirogen Group.
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.
Through its 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.
Commenting on the acquisition 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.”
The acquisition was completed alongside Gecos Invest and Hermes GPE Environmental Innovation Fund through a joint investment syndicate led by Promethean UK Opportunities Fund II.
Read the August 2016 issue of Business Review Middle East magazine