ABU DHABI – UAE-based private equity firm Gulf Capital has completed an investment worth $25 million in Egyptian firm Amak Group through its regional fund Gulf Credit Partners.
Amak provides petroleum services for the onshore and offshore sectors in Egypt, along with drilling and workover services to oil companies.
Karim El Solh, CEO of Gulf Capital, said “Gulf Credit Partners’ investment will help Amak continue its strong growth at an exciting time for Egypt’s revitalized oil and gas sector.”
Egypt is rated as one of the most attractive private equity destinations in the region, according to a report by the MENA Private Equity Association. “As the country transitions towards regaining political stability, private equity deal activity and value of investments made are gradually expected to return to levels experienced prior to 2011,” the report said.