Gulf Capital, one of the largest private equity firms in the Middle East, announced Sunday that it has acquired an 82.7 percent stake in Sakr Energy Solutions FZCO (SES), a leading provider of temporary power generation, to capitalise on the growing need for power across the Middle East, Africa and South East Asia, a press statement of the company has said. Dr Karim El Solh, chief executive officer, Gulf Capital said the Power represented a resilient and rapidly growing sector, not only in the MENA region, but also in South Asia and Sub-Saharan Africa. “Gulf Capital's portfolio of private equity investments now comprises an array of defensive investments in the water, power, healthcare and education sectors. Our long-term goal for SES is to finance its expansion across the region and to position it as the premier provider of temporary power rental solutions in the Middle East and Africa,” he said. Walid Ishak, co-Founder of SES, said with the SES embarking on an aggressive regional expansion, the funding and support of Gulf Capital will be instrumental in helping us achieve our ambitious expansion goals. “With this new institutional backing, SES will emerge as one of the best funded operators in the sector, able to supply more power to existing and future customers across the region,” he said.
