NCC Group acquires majority stake in Grako and Gecko
Partnership facilitated by The National Investor PrJSC (TNI) is expected to fuel potential in the industrial services and FM sector
High access cleaning specialists Grako, and its sister company, Gecko Middle East has signed a partnership agreement with UAE-based conglomerate the National Catering Company (NCC Group). The NCC Group has acquired in access of 51% stake in the privately held company.
Grako is most commonly known for cleaning the facades of Burj Khalifa and Dubai Airport for many years. Whereas Gecko is a recognised ‘industrial rope access’ and ‘coating solutions’ service provider.
The National Investor PrJSC (TNI) acted as the financial advisor and lead manager to NCC on the transaction and will enable Grako and Gecko to capitalise on sectors such as oil and gas and maritime industries apart from its focus on FM.
HE Abubaker Seddiq Al Khoori, chairman, TNI, said, “This dynamic partnership, whereby NCC acquired majority shares in both Grako and Gecko, will add new momentum to business growth for all parties immediately and in the long run.”
Both Grako and Gecko will continue to operate independently, led by Alain El-Tawil, who is keen on expanding the firm’s Abu Dhabi operations further by leveraging NCC’s well-established client base and reach especially in the oil and gas and maritime industries.
Abdullah Mazrui, chairman of NCC said: “Both Grako and Gecko have deep knowledge and expertise in their respective fields, which should prove to be extremely valuable for our current and future customers. This partnership aligns with our core strategy on many fronts and reflects NCC’s commitment towards driving growth in our focus sectors by partnering with leading players with high growth potential. We consider Grako and Gecko to be the most suitable partners for NCC to accelerate our growth ambitions in both the FM industry and our support services business targeting industrial sectors.”
HE Abubaker Seddiq Al Khoori, chairman, TNI; Abdullah Mazrui, Chairman of NCC; Alain El Tawil, Founder and CEO of Grako and Gecko at the press announcement in Abu Dhabi.