Standard Chartered Private Equity (SCPE) has acquired a minority stake in Construction Products Holding Company (CPC) through an equity investment of US$75m. CPC is Saudi Arabia’s largest manufacturer and provider of building materials and a subsidiary of the Saudi Bin Laden Group (SBG). CPC, with over 30 world-class manufacturing facilities, provides up to 80% of the building materials required for mega construction projects throughout Saudi Arabia and will use the proceeds for expansion purposes. SCPE will be granted a board seat and will provide insight on CPC’s capital structure and expansion into new markets.
This is the first investment in Saudi Arabia for SCPE, which is committed to investing in successful Saudi businesses and is actively seeking opportunities across the country and the rest of the Middle East. SCPE invests in companies across sectors with proven cash flows, backed by best in class management teams in flexible private equity or mezzanine structures.
Mu’taz Sawwaf, chief executive officer (CEO) of CPC, said: “The Saudi Bin Laden Group is excited about its new partnership with Standard Chartered Bank and its top-notch Private Equity group. CPC, as the backbone of the Saudi Bin Laden Group, is the largest integrated supplier of building materials in the Kingdom of Saudi Arabia and the Middle East. We look forward to SCPE’s partnership as we experience robust growth in our existing footprint and in new markets.”
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