M’Sharie acquires UAE-based adhesive manufacturer

The Dubai-based private equity firm has purchased a controlling stake in Anchor Allied.

M’Sharie, the private equity arm of Dubai Investments, which is the largest investment company listed on the Dubai Stock Exchange, has acquired a 51 percent stake in Anchor Allied for an undisclosed price.

Based in Sharjah, Anchor Allied manufactures adhesive tapes, silicone and acrylic sealants, aerosol paints, lubricants and car care products. The company currently has a turnover of AED 250 million ($109 million; €80 million), which the company said is expected to double in three years. It has a market share of about 60 percent in the UAE, and also sells its products in other emerging markets and North America. More than 50 percent of its sales revenue is generated from overseas markets. 

M’Sharie's investment will be used to accelerate Anchor Allied’s business growth, said Abdul Aziz Al Serkal, managing director of M’Sharie.

M’Sharie invests in “high-potential existing businesses” in diverse sectors, Al Serkal said. It has made 18 investments in the last few years, which include majority stakes in 15 companies, and an interest in two more companies through joint ventures.

Dubai Investments, the parent company of M’Sharie, recently divested 40 percent of its stake in M’Sharie for AED 400 million to a group of regional investors including United Arab Emirates-based National Bonds Corporation, Al Mal Capital, The First Investor and Al Arif Investment, Bahrain-based Gulf International Bank and Saudi Arabia-based Abdulaziz Alajlan Sons and Ali Bin Hassan Dayekh.

Established in 1998, M’Sharie is focused on investments in medium to large companies in the Middle East.

Dubai Investments is a subsidiary of Dubai Holding, which manages assets of more than $12 billion.