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  • 18-02-13

    Bahrain's Investcorp takes over Scottish Hydrasun

    (MENAFN) Bahraini private equity firm Investcorp SA has acquired a majority shareholding in Scottish oil and gas services provider Hydrasun from Equistone Partners Europe Ltd., Bloomberg reported. Mohammed Al-Shroogi, the company's president for Gulf business, said that the company bought the stake for between USD150 million and USD300 million. Aberdeen, Scotland-based Hydrasun provides hydraulic equipment and fluid connectors for the offshore oil and gas industry. Al Shroogi said that Investcorp has made USD1.5 billion deals in the US, Europe and Middle East and North Africa (MENA) region over the last twelve months. In January, CEO Nemir Kirdar said the company had a "record deal flow for acquisitions as well as exits" in the six months ended December 31 and last year completed the sale of FleetPride to TPG for more than USD1 billion. Investcorp last month sold CCC Information Services Inc. to private equity firm Leonard Green & Partners LP, while acquiring a majority stake in FishNet Security Inc. from Lake Capital.

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