Send Us Your Press Releases

Raise your profile by letting the world know exactly what you are up to right now: editorial@AltAssets.net
Private Equity Fund Directory
Subscribe to the free Private Equity and Venture Capital NewsletterJoin AltAssets group on LinkedIn

Qatar’s QInvest Capital buys up 40 per cent of hospitality business Qatar’s QInvest Capital buys up 40 per cent of hospitality business

15 Apr 2010. Source: AltAssets
QInvest, a Qatari investment bank, has acquired a 40.8 per cent stake in Intercat Hospitality and Butlers Dry Cleaning and Laundry Services via its private equity arm, QInvest Capital.

The size of the transaction has not been disclosed but Butlers is an established UAE business that has been in operation since 1992. The company comprises Intercat, a player in the institutional catering market with clients in the hospitality, corporate, education, and contracting sectors, and Butlers, an institutional dry cleaning and laundry market serving customers in the hospitality sector.

The fresh capital will enable the company to expand into other Gulf Cooperation Council markets.

Anuj Khanna, co-head of investment management at QInvest, said, “The investment is in line with our private equity fund’s investment strategy of backing strong management teams and scalable businesses in the MENASA region. This company offers an attractive value proposition to its customers in a growth sector which will become increasingly relevant in the GCC as customers seek productivity improvements in their core businesses through outsourcing efficiencies.”

QInvest has authorised and paid up capital of $1bn and $700m respectively, and operates under Sharia’a compliant structures.

Copyright © 2010 AltAssets

Add your comment

There are currently no comments.
Leave Comment


or close