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

Facilities Management Middle East - - CONTENTS -

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.

Newspapers in English

Newspapers from UAE

© PressReader. All rights reserved.