Bahrain’s Investcorp sells Dutch precision component manufacturer

Investcorp, the Bahrain alternative investment firm that has $21.3 billion in assets under management, sold Veco Precision, a Netherlands-based manufacturer of high-precision metal components, to Gilde Buy Out Partners and Management.

The company, which counts Abu Dhabi strategic firm Mubadala Investment Company as its largest shareholder, did not disclose the value of the deal in a statement yesterday to Bahrain Bourse, where its shares are traded.

Veco has been sold by its parent company SPGPrints Group, a rotary screen and digital printing specialist, which Investcorp acquired in July 2014.

Veco, which has about 350 full-time employees, serves more than 1,500 customers in 85 countries from its sites in the Netherlands, the UK, Germany and India, according to the regulatory filing.

Investcorp has helped the firm to “grow organically as well as through add-on acquisitions, building scale and enabling the company to establish itself as a standalone business”, it said in the statement.

The move is in line with company plans to have at least three exits this year, its co-chief executive Rishi Kapoor told The

National in December.

The firm is focusing on exits in the Arabian Gulf, the US and Europe, he said at the time.

Since its inception in 1982, Investcorp has made over 170 corporate investments in the US, Europe and the broader Middle East and North Africa region, including Turkey.

The firm has invested across a range of sectors and has made more than 450 commercial and residential real estate investments in the US, with a transaction value exceeding $55bn.

Investcorp is expanding its client coverage and its product lines as part of a strategy to boost its assets under management in the coming years through acquisitions and organic growth.

In March, the company acquired a minority stake in US strategic communications and advisory firm ICR for an undisclosed sum.