Investcorp, a leading provider and manager of alternative global investment products, has agreed to acquire Kee Safety Ltd., a global supplier of safety solutions and products, from Dunedin LLP and LDC for an enterprise value of £280 million ($370 million).
Established in the UK in 1934 and headquartered in Birmingham, Kee Safety is the leading global provider of fall-protection solutions and products associated with working at heights. The company has a global presence and sells its products in more than 60 countries to a broad range of customers, from multi-national corporations to distributors and installers. It employs 480 people and has established operations in 10 countries, including the US and China.
Investcorp plans to support Kee Safety’s international growth strategy both organically and by considering further add-on acquisitions, expanding the company’s geographic footprint and strengthening its presence in existing markets. Operating in a highly fragmented market, Kee Safety is well positioned to leverage its strong reputation and its scalable business model to benefit from increasing levels of safety regulations around the world.
Yasser Bajsair, Investcorp managing director in Saudi Arabia, said: “Investcorp has built a strong track record of successful investments in Europe. We are excited to start a new success story with Kee Safety...”
Chris Milburn, chairman of Kee Safety, said: “International expansion and an active acquisition strategy have formed key tenets of our growth story over recent years. It was, therefore, extremely important for us to identify the right partner capable of continuing to support us in this period of strong development for the company. We believe that Investcorp’s proven track record, global presence and network will be extremely valuable in this regard. Their experience of working with the management teams of their portfolio companies to help them continue to internationalize makes them a highly complementary partner for Kee Safety and one that will help us realize the full growth potential of the business.”
Kee Safety marks Investcorp’s third investment in the UK in the last 18 months, having previously acquired Nebulas, one of the UK’s leading managed cybersecurity service providers; and Impero, one of the UK’s leading providers of online student safety, classroom and school network management software.
Investcorp to acquire Kee Safety for $370 million
Investcorp to acquire Kee Safety for $370 million
Sulaiman Al-Rajhi Endowment projects worth SR8bn launched in Makkah
Sulaiman Al-Rajhi Real Estate Company has announced the launch of several real estate projects belonging to the Sulaiman Al-Rajhi Endowment system in Makkah, with a total investment exceeding SR8 billion ($2.1 billion). These projects include commercial, residential, and hospitality developments, as well as strategic land plots, as part of the company’s commitment to supporting the Kingdom’s real estate sector and enhancing the quality of life in the holy city.
The announcement was made during a field tour by a delegation of high-level officials including Saleh Al-Rasheed, CEO of the Royal Commission for Makkah City and Holy Sites; Ihsan Bafakih, chairman of the board of directors of Sulaiman bin Abdulaziz Al-Rajhi Holding Company; Haitham Al-Fayez, chairman of Sulaiman Al-Rajhi Real Estate Company and CEO of Sulaiman Al-Rajhi Holding Company; Moath Al-Mukhudub, managing director and CEO of Sulaiman Al-Rajhi Real Estate Company; and Anas Mansour Abadi, CEO of real estate at Sulaiman Al-Rajhi Holding Company and representative of the Sulaiman Al-Rajhi Endowment, alongside members of the board of directors of both the holding and real estate companies and the executive team.
The tour included the launch of the Tilal Towers project, with an investment value of SR2 billion, featuring more than 2,500 hotel rooms, strengthening the hospitality sector in Makkah.
The delegation also visited the Tilal Village project, valued at SR2.8 billion. It is one of the prominent qualitative projects within the hospitality ecosystem in Makkah.
Furthermore, the visit covered the residential buildings within Tilal Village, comprising 828 units, with an investment of SR800 million. The delegation inspected the specialized hospital, medical complex housing, and the office and commercial plazas.
During the tour, a contract was signed for the Al-Rajhi Center project, valued at SR250 million, as part of a comprehensive rehabilitation plan.
The inspection also included the Al-Ukayshiyyah land, spanning 4 million square meters, and the Al-Ghazzawi project land, valued at SR250 million.
The tour concluded with prayers at the Aisha Al-Rajhi Mosque, the second-largest mosque in Makkah after the Grand Mosque, with a capacity for 50,000 worshippers.
This visit underscores the importance of these investments, which represent a clear direction toward enhancing the management of the endowment’s assets through diversification, redevelopment, and strategic expansion, in line with the development goals of the Makkah city and Saudi Vision 2030.
Sulaiman Al-Rajhi Real Estate, a subsidiary of Sulaiman bin Abdulaziz Al-Rajhi Holding Company, continues to provide innovative solutions to elevate the real estate sector to international standards.
