Gulf Capital, an alternative asset manager in the Gulf Cooperation Council (GCC), has acquired a “significant majority” stake in CWB Group, an intellectual property services provider across the Middle East and North Africa (MENA) region for an undisclosed amount.
Founded in 2006, CWB provides patent and trademark services including, clearing, filing, prosecution, maintenance and enforcement services to Fortune 500 companies across the MENA region, Gulf Capital said in a statement on Monday.
Gulf Capital CEO Dr Karim El Solh said, “this latest investment in CWB cements our established strategy of acquiring majority stakes in market leading companies regionally and taking them global.”
CWB’s service offering also extends to anti-counterfeiting and commercialisation of intellectual property (IP). CWB works with its clients to conceive and execute strategic solutions to manage, protect and enforce their Intellectual Property (IP) through its seven offices and member firms in the MENA region, according to the statement.
El Solh noted that the MENA, Africa and CIS intellectual property services market is estimated at over $350 million annually and is expected to grow at about 6 per cent per annum over the next five years.
“We intend to expand rapidly into new geographies while leveraging our new partner’s experience in building global platforms out of the GCC,” CWB Group founder and CEO Halim Shehadeh said.
El Solh added that Gulf Capital has been particularly active over the last two years, with the successful closure of 10 new and follow-on investments at the portfolio companies’ level.
“We are looking forward to a productive rest of the year as we maintain our investment pace and continue to work on a number of strategic new follow-on investments and exits in the near future.”
Gulf Capital invests across several asset classes including private equity, private debt and real estate and currently manages over $2.5 billion of assets across seven funds and investment vehicles.