Latest news with #GulfCapital
Mint
4 days ago
- Business
- Mint
Temasek backed Cloudnine leads race to acquire ART Fertility for $400 mn
Mumbai: Temasek-backed Cloudnine Hospitals is leading the race to acquire Art Fertility, a UAE-based IVF treatment chain, signalling a growing interest among financial and strategic investors for single-specialty healthcare companies. The deal, valuing Art Fertility at $400 million, has also seen interest from IVI, a European strategic investor, four people with knowledge of the development said on the condition of anonymity. 'The binding bids have come in. There are two final bidders. Cloudnine is likely the frontrunner," the first person cited above said. The deal will give existing investor Gulf Capital an exit. Also read: Temasek, ADIA race to invest up to $300mn in medical equipment firm Micro Life 'Temasek is expected to double down on its investment in Cloudnine to help the company fund the acquisition," the people cited above said. 'The acquisition involves ART Fertility's entire business, comprising Middle Eastern and Indian divisions." Investment bank Moelis & Co. is running the mandate for the transaction. While spokespersons for Temasek and Moelis declined to comment, queries emailed to Cloudnine, ART Fertility and Gulf Capital did not elicit any response. Temasek's new capital infusion comes less than a year after the Singapore government's investment arm bought nearly a 20% stake in Bengaluru-based Cloudnine for around $125 million. The deal, which valued the specialist mother and baby care hospital at around $600 million, gave early-stage venture capital firm Peak XV an exit from the company after 11 years. Founded in 2006 by Dr. R Kishore Kumar, Rohit M.A., M. Ramachandra and Vidya Kumar, Cloudnine is a chain of super-specialty hospitals catering to fertility, maternity care, gynaecology, paediatrics, neonatology, baby care and stem cell banking. Currently, it has 34 centres across Indian cities, including Bengaluru, Delhi, Mumbai, Pune, Chennai, Gurgaon, Ludhiana and Chandigarh. Twelve of the centres are in Bengaluru. Also read: Bain held on to Emcure after the IPO. Here's what's next. ART Fertility was established as an extension to IVI RMA Global, a company focused on assisted reproduction technology (ART), in 2015 under the brand name IVI Middle East. About five years later, Gulf Capital bought IVI RMA's stake and rebranded the company to ART Fertility. For Cloudnine, the acquisition comes at a time when it's realigning its cap table ahead of a public listing that is expected later this year. This would be the hospital chain's second attempt at an initial public offering (IPO). In 2022, it had filed draft papers for a ₹1,200 crore IPO. Cloudnine will leverage ART Fertility's presence in Abu Dhabi, Al Ain and Dubai, alongside 11 clinics across India in cities including Delhi, Chennai, Mumbai and Ahmedabad. Its clinics have seen a swift expansion to become one of the leading players in the Middle East and the Indian subcontinent, with plans to extend services further across the globe, Gulf Capital said in a statement in November 2023. Kids Clinic India Ltd, which operates Cloudnine, reported a consolidated revenue of $145.3 million in FY24 as compared with $119.8 million a year earlier. It narrowed its losses to $3.4 million from a loss of $5.3 million in FY23, according to data from Tracxn. Also read: Dialysis chain NephroPlus engages bankers for a $200-250 mn IPO ICRA noted last year that Kids Clinic will benefit from healthy revenue growth on a steady ramp-up at the existing centres and improving revenue share from new centres. The diversification of its presence across various parts of northern, western and southern India, coupled with plans to set up more units in metros and tier I cities, will also add to its growth. With continuous expansion in recent years resulting in a sizable loss from new centres, its return on capital employed (ROCE) has been low in FY23 and FY24, ICRA said in the note. However, a robust scale of operations, gradual improvement in profit margins of new centres and stable margins of existing areas will support the improvement in ROCE over the medium term, the credit rating firm said.
Web Release
21-04-2025
- Business
- Web Release
Gulf Capital Announces Its Full Exit from its O&G logistics platform, Kuiper Group, through a Strategic Sale to India-listed Asian Energy Services
By Editor_wr On Apr 21, 2025 Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, announced today its full exit from Kuiper Group, in a strategic sale transaction to Asian Energy Services, an Indian company listed on the Bombay Stock Exchange and the National Stock Exchange of India Ltd. The transaction comes on the heels of the previous successful sale of Kuiper's Australian operation in a carve-out management buyout in Q3 last year. Asian Energy Services Limited, which is an Indian leading integrated service provider to the energy and mining sectors, acquired 100% stake in Kuiper Group, from both Gulf Capital and the founders of Kuiper and OCB Oilfield Services. The acquisition, which will be funded through a combination of internal accruals and debt, is expected to be completed within the next two months. Upon the initial acquisition of the leading Dubai-based Oil & Gas offshore crew provider, OCB Oilfield Services, Gulf Capital worked closely with the management team to expand across the fast growing Asian markets. This led to the acquisition of Singapore-based Kuiper International, a dominant player in the offshore construction and maintenance services sector. Gulf Capital has developed a long track record of building pan-Asian leaders through a mix of bolt-on acquisitions and organic growth. Richard Dallas, Senior Managing Director at Gulf Capital, said: 'We built in Kuiper Group a leading international energy business services platform, together with the management team. Kuiper Group has become a global leader and has presence today in more than 15 Asian, Middle Eastern, and African countries. This offers the new strategic buyer, Asian Energy Services, the opportunity to scale its operations, access a larger addressable market, and support its long-term growth plans.' During Gulf Capital's holding period, Kuiper Group has implemented a growth programme which focused on significant diversification in customer base, service capabilities, and geographical coverage. The Kuiper Group has recorded revenue of approximately US$ 68 million in year ending December 2024 and is a profitable business, further strengthening the strategic value of the acquisition. Commenting on this, Mr Kapil Garg, Managing Director, Asian Energy Services Limited said, 'The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services' journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Group's strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated O&M services offering. We also aim to support and grow Kuiper's existing business. I warmly welcome Kuiper's management team and employees to the Asian Energy family and look forward to working together following the completion of the acquisition.' Alvaro Abella, Managing Director at Gulf Capital, said: 'The exit to Asian Energy Services will support Kuiper in solidifying its position across the 15 markets where it operates and further afield. During our holding period, we have managed to grow the topline significantly and double the geographic footprint. Now, Kuiper, in partnership with Asian Energy Services, is poised for further growth and success.' Simon Cooper, Finance Operating Partner at Gulf Capital, concluded: 'We are proud of the transformation and growth Kuiper has undergone during our investment period—from a regional manpower provider to a highly-scalable, global operator with robust governance and commercial discipline. This transaction with Asian Energy Services represents a strategic fit that unlocks long-term potential for Kuiper's management team and their global client base. It also reflects Gulf Capital's ability to identify, grow, and exit high-quality platforms in the energy services space through hands-on value creation, internationalisation and disciplined execution.' Comments are closed.
Zawya
21-04-2025
- Business
- Zawya
Gulf Capital exits Kuiper Group via sale to India's Asian Energy Services
Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, has announced its full exit from Kuiper Group, in a strategic sale transaction to India-based Asian Energy Services. The transaction comes on the heels of the previous successful sale of Kuiper's Australian operation in a carve-out management buyout in Q3 last year. Asian Energy Services, a leading Indian integrated service provider to the energy and mining sectors, acquired 100% stake in Kuiper Group, from both Gulf Capital and the founders of Kuiper and OCB Oilfield Services. The acquisition, which will be funded through a combination of internal accruals and debt, is expected to be completed within the next two months, said a statement. Upon the initial acquisition of the leading Dubai-based Oil & Gas offshore crew provider, OCB Oilfield Services, Gulf Capital worked closely with the management team to expand across the fast growing Asian markets. This led to the acquisition of Singapore-based Kuiper International, a dominant player in the offshore construction and maintenance services sector. Gulf Capital has developed a long track record of building pan-Asian leaders through a mix of bolt-on acquisitions and organic growth. Richard Dallas, Senior Managing Director at Gulf Capital, said: 'We built in Kuiper Group a leading international energy business services platform, together with the management team. Kuiper Group has become a global leader and has presence today in more than 15 Asian, Middle Eastern, and African countries. This offers the new strategic buyer, Asian Energy Services, the opportunity to scale its operations, access a larger addressable market, and support its long-term growth plans.' Kapil Garg, Managing Director, Asian Energy Services Limited, said: 'The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services' journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Group's strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated O&M services offering. We also aim to support and grow Kuiper's existing business. I warmly welcome Kuiper's management team and employees to the Asian Energy family and look forward to working together following the completion of the acquisition." – TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
21-04-2025
- Business
- Trade Arabia
Gulf Capital exits Kuiper Group via sale to India's Asian Energy Services
Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, has announced its full exit from Kuiper Group, in a strategic sale transaction to India-based Asian Energy Services. The transaction comes on the heels of the previous successful sale of Kuiper's Australian operation in a carve-out management buyout in Q3 last year. Asian Energy Services, a leading Indian integrated service provider to the energy and mining sectors, acquired 100% stake in Kuiper Group, from both Gulf Capital and the founders of Kuiper and OCB Oilfield Services. The acquisition, which will be funded through a combination of internal accruals and debt, is expected to be completed within the next two months, said a statement. Upon the initial acquisition of the leading Dubai-based Oil & Gas offshore crew provider, OCB Oilfield Services, Gulf Capital worked closely with the management team to expand across the fast growing Asian markets. This led to the acquisition of Singapore-based Kuiper International, a dominant player in the offshore construction and maintenance services sector. Gulf Capital has developed a long track record of building pan-Asian leaders through a mix of bolt-on acquisitions and organic growth. Richard Dallas, Senior Managing Director at Gulf Capital, said: 'We built in Kuiper Group a leading international energy business services platform, together with the management team. Kuiper Group has become a global leader and has presence today in more than 15 Asian, Middle Eastern, and African countries. This offers the new strategic buyer, Asian Energy Services, the opportunity to scale its operations, access a larger addressable market, and support its long-term growth plans.' Kapil Garg, Managing Director, Asian Energy Services Limited, said: 'The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services' journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Group's strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated O&M services offering. We also aim to support and grow Kuiper's existing business. I warmly welcome Kuiper's management team and employees to the Asian Energy family and look forward to working together following the completion of the acquisition." –
Al Bawaba
21-04-2025
- Business
- Al Bawaba
Gulf Capital Announces Its Full Exit from its oil and gas logistics platform, Kuiper Group, through a Strategic Sale to India-listed Asian Energy Services
Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, announced today its full exit from Kuiper Group, in a strategic sale transaction to Asian Energy Services, an Indian company listed on the Bombay Stock Exchange and the National Stock Exchange of India Ltd. The transaction comes on the heels of the previous successful sale of Kuiper's Australian operation in a carve-out management buyout in Q3 last Energy Services Limited, which is an Indian leading integrated service provider to the energy and mining sectors, acquired 100% stake in Kuiper Group, from both Gulf Capital and the founders of Kuiper and OCB Oilfield Services. The acquisition, which will be funded through a combination of internal accruals and debt, is expected to be completed within the next two months. Upon the initial acquisition of the leading Dubai-based Oil & Gas offshore crew provider, OCB Oilfield Services, Gulf Capital worked closely with the management team to expand across the fast growing Asian markets. This led to the acquisition of Singapore-based Kuiper International, a dominant player in the offshore construction and maintenance services sector. Gulf Capital has developed a long track record of building pan-Asian leaders through a mix of bolt-on acquisitions and organic Dallas, Senior Managing Director at Gulf Capital, said: 'We built in Kuiper Group a leading international energy business services platform, together with the management team. Kuiper Group has become a global leader and has presence today in more than 15 Asian, Middle Eastern, and African countries. This offers the new strategic buyer, Asian Energy Services, the opportunity to scale its operations, access a larger addressable market, and support its long-term growth plans.'During Gulf Capital's holding period, Kuiper Group has implemented a growth programme which focused on significant diversification in customer base, service capabilities, and geographical coverage. The Kuiper Group has recorded revenue of approximately US$ 68 million in year ending December 2024 and is a profitable business, further strengthening the strategic value of the on this, Mr Kapil Garg, Managing Director, Asian Energy Services Limited said, 'The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services' journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Group's strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated O&M services offering. We also aim to support and grow Kuiper's existing business. I warmly welcome Kuiper's management team and employees to the Asian Energy family and look forward to working together following the completion of the acquisition."Alvaro Abella, Managing Director at Gulf Capital, said: 'The exit to Asian Energy Services will support Kuiper in solidifying its position across the 15 markets where it operates and further afield. During our holding period, we have managed to grow the topline significantly and double the geographic footprint. Now, Kuiper, in partnership with Asian Energy Services, is poised for further growth and success.' Simon Cooper, Finance Operating Partner at Gulf Capital, concluded: 'We are proud of the transformation and growth Kuiper has undergone during our investment period—from a regional manpower provider to a highly-scalable, global operator with robust governance and commercial discipline. This transaction with Asian Energy Services represents a strategic fit that unlocks long-term potential for Kuiper's management team and their global client base. It also reflects Gulf Capital's ability to identify, grow, and exit high-quality platforms in the energy services space through hands-on value creation, internationalisation and disciplined execution.'
