Adic Acquires Unitra Mets Group

Oct. 23, 2008 - PRLog -- Media Information – Issued by Abu Dhabi Investment Company



ADIC ACQUIRES UNITRA METS GROUP


ADIC MENA Partners, LP, a private equity fund managed by Abu Dhabi Investment Company (ADIC), announced the acquisition in a leveraged buy-out transaction of a majority stake in Al Zarooni Family’s Unitra METS Group, a specialty beverage distributor, headquartered in Dubai – UAE, with 2008 revenues expected to be in excess of AED 600 million.

The acquisition of the Unitra METS Group clearly highlights ADIC Private Equity’s strategy of buying majority stakes from family and other business owners, using a sensible amount of non-recourse, cash flow based financial leverage. This strategy capitalizes on a new market trend of family groups rationalizing their portfolios and tying up with private equity groups.

Najib Al Zarooni, Chairman of Unitra METS Group said, “We are very proud of our success in building Unitra METS into one of the UAE’s leading specialty beverage distributors and look forward to expanding the business regionally with the support of our new partners at the ADIC Private Equity Fund.”

Commenting on the acquisition, Robert Wages, Executive Director of ADIC Private Equity, said, “ADIC is very pleased to be investing in Unitra METS Group. We are confident this transaction will demonstrate how successfully a private equity firm can partner with a family-owned business to build market-leading regional businesses.”  

Alwaleed Abdelrahman, the Senior Vice President of ADIC Private Equity who led the transaction from the ADIC side added, “Due to its excellent management, operations and infrastructure, the Unitra METS Group is very well-positioned to capitalize on the strong growth in the beverage market in the UAE and beyond.”  

The ADIC Private Equity Group launched the ADIC MENA Partners LP fund, a $500 million buy-out fund with a commitment from ADIC of $100 million, which will be closed early next year. The fund’s proceeds will be invested in buying-out regional companies for majority stakes. The ideal transaction size for one company would be between $75-200 million and the countries focused on include MENA, Pakistan, and Turkey. The fund is being marketed to Institutional Investors and High Net-Worth Individuals (HNWIs), as the minimum subscription is $5 million.

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About Unitra METS Group
Unitra METS Group was founded by the Zarooni family and Mr. Hamed Mohamad in 1998, and is the exclusive distribution partner of the Red Bull energy drink in the UAE, as well as the local distributor of a wide portfolio of water, juices, and specialty drinks, such as San Pellegrino.  In addition, Unitra METS Group has an online door to door convenience delivery service named “Bebida”, and recently signed an agreement with Dubai Holding and Lamantra Pictures that covers the development, production and distribution in the Middle East of the Freej product concept as a water and long life juice.  The Zarooni family and their partners remain significant investors in Unitra METS.


About ADIC (Abu Dhabi Investment Company)
Abu Dhabi Investment Company (ADIC), the first investment company in the United Arab Emirates, is one of the leading financial services firms in the region. Established by Emiri Decree on February 24, 1977, and owned by Abu Dhabi Investment Council, ADIC has delivered excellence in treasury and credit services, loan syndication, equity and debt underwriting, financial advisory, asset management and brokerage across a range of asset classes. As a result, the company has earned a reputation for professionalism, integrity, innovation, and market knowledge.

Pursuing a focused approach, ADIC today leverages its investment expertise across four strategic areas: Asset Management, Private Equity, Real Estate, and Infrastructure. In this way, the organization is able to offer targeted products and services to meet specific client requirements in markets across the globe, all while delivering superior risk-adjusted returns. With extensive knowledge of the Middle East and North Africa investment environment, unrivalled access to primary information on regional companies, both large and small, an understanding of the micro and macro economic environment and record of accomplishment across asset classes, ADIC is an ideal investment partner for institutions and high net worth individuals based in the region and beyond.


For further information, please contact:
Sweety Darwish
ADIC Corporate Communications
Tel +971 2 6296451
Fax +971 2 6655835
Email s.darwish@adic.ae

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Abu Dhabi Investment Company (ADIC) delivers excellence in treasury &credit services, loan syndication, equity &debt underwriting, financial advisory, asset management and brokerage across a range of asset classes, since 1977.