Bahrain sovereign fund buys stake in water company

Friday 12th Aug 2016

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Bahrain Mumtalakat Holding Company (Mumtalakat), the Bahraini government’s investment arm, has announced that it has acquired “a significant equity stake” in UK-based water treatment company, Envirogen Group.

The acquisition was completed alongside Gecos Invest and Hermes GPE Environmental Innovation Fund through a joint investment syndicate led by Promethean UK Opportunities Fund II.

Envirogen specialises in environmental technology and process systems for the treatment of water, wastewater, vapour emissions, and material recovery.

The company also offers water treatment and process filtration services to a vast customer base across a range of industries, including food and beverage, chemicals and refining, mining, and power.

Through its relationship with Mumtalakat, Envirogen is expected to expand its regional water treatmenet operations in Bahrain and the rest of the GCC.

Remarking on the transaction, Mahmood Alkooheji, chief executive officer, of Mumtalakat, said: “We are delighted to have completed this investment in Envirogen, which meets our objective to invest in well-positioned international businesses with proven track records of performance and solid growth potential.”

Andrea Davi, CEO of Envirogen, added: “We are excited to have Mumtalakat as one of Envirogen’s strategic shareholders, and we look forward to working with them on the expansion into the MENA region.”


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