BDA Partners (“BDA”) is pleased to announce that its client, Seera Investment Bank B.S.C (“Seera”), the Bahrain-based Shari’a compliant private equity investor, along with the management shareholders, have completed the sale of Kosan Crisplant Group (“Kosan Crisplant”) to Al-Ayuni Investment and Contracting Company (“Al-Ayuni”), a major construction and energy infrastructure company based in Saudi Arabia. Terms of the deal were not disclosed.
Based in Aarhus, Denmark, Kosan Crisplant is the leading supplier of equipment, plants and systems for filling and maintenance of LPG cylinders and offers after-sales and engineering services, facility management and supply of components for the gas industry. Recently, profiting from more than 60 years of experience in the gas business, the group has entered the market for small-scale projects within the LNG segment.
In 2013, Al-Ayuni acquired Siraga in France, another leading company in the LPG business. “The acquisition of Kosan Crisplant will strengthen our position as a leader within the energy sector globally. We believe that Kosan Crisplant and Siraga have strong synergies which will give both companies a solid platform for further growth,” said Abdul Kareem Al-Ayuni, Vice President of Al-Ayuni. Al-Ayuni’s international companies will be handled by Makeen Energy, a newly founded company under the wings of Al-Ayuni with its base in Denmark. The current CEO of Kosan Crisplant, Anders C. Anderson, has been appointed as CEO of Makeen Energy. His first task within the group is the integration of Kosan Crisplant and Siraga in the new constellation.
Kosan Crisplant was taken over by Seera together with a group of investors in 2008. On reaching the agreement with Al-Ayuni, Mr. Abdulla Janahi, Seera’s CEO and the Chairman of the Board of Kosan Crisplant commented, “In the 7 years of Seera’s ownership we have developed KC into a strong player in the gas industry. The company is now well positioned for further substantial growth in the future. I would like to thank the entire team of KC for the support and hard work during our ownership and wish Al-Ayuni and Kosan Crisplant continued success.”
BDA acted as the exclusive financial advisor to Seera and the other shareholders on the transaction.
Andrew Huntley, Senior Managing Director of BDA said, “The divestment of Kosan Crisplant, involving a long-established Nordic company and management team with a global business model, and a private equity seller and strategic buyer both from the Middle East, underlines BDA’s unique cross-border capability in international M&A. This transaction builds further on our strong industrial automation and flow control practice, demonstrates our commitment to the Nordic region where we have a growing list of transaction credentials, and the value of our long-standing presence in the Gulf. BDA has an extensive record of advising high quality private equity investors on successful exits through carefully managed global transaction processes.”
BDA Deal Team
Andrew Huntley, Senior Managing Director, London
Jonathan Aiken, Assistant Director, London
Ahmed Al-Balooshi, Assistant Director, Bahrain and London
Udi Wickrema, Associate, London
Incorporated in 2006 in the Kingdom of Bahrain, Seera Investment Bank B.S.C. (c) is an Islamic Whole Sale Bank licensed and regulated by the Central Bank of Bahrain with a paid-up capital of around US$146 million. Seera provides investment banking products and services in strict adherence to Shari’a rules and principles. www.seera.com
Al-Ayuni Investment and Contracting Company is a privately owned company operating in the Kingdom of Saudi Arabia in the road construction field since the 1960’s. It is known for its strong values, impeccable business ethics and professional delivery of high quality projects to its clients. Today, AICC’s portfolio includes roads, railways, water & power, and buildings construction, natural stone mining, and precast concrete production. AICC also owns a number of international companies such as Siraga and Sadelmi Power. www.alayuni.com
BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Bahrain, Mumbai, Ho Chi Minh City, Hong Kong, Shanghai, Beijing, Seoul, and Tokyo. BDA was named M&A Advisory Firm of the Year at The ACG Champions Awards in 2015. BDA formed a partnership with William Blair & Company in 2011. www.bdapartners.com
For more information, please contact Andrew Huntley in London at +44 20 7182 4518
BDA carries out its US securities business through BDA Advisors Inc., a broker-dealer registered with the US Securities and Exchange Commission (SEC) and a member of FINRA and SIPC. BDA’s UK subsidiary is authorised and regulated by the Financial Conduct Authority.