Loading...
BlueFive Capital announced it has agreed to acquire a 70% stake in Gulf Cobla LLC, a UAE-based dredging and land reclamation company operating across the Middle East and South Asia.
The transaction involves BlueFive Capital acquiring Advanced Dynamics Investments' entire 49% shareholding, an affiliate of Saudi Binladin Group, and a further 21% from Dutco Group. Dutco retains 30% ownership following the deal.
Established in 1977 by order of the late Sheikh Rashid bin Saeed Al Maktoum, Gulf Cobla has contributed significantly to regional marine infrastructure development. The company specialises in dredging, land reclamation, and marine operations using cutter suction dredgers and auxiliary equipment. Notable completed projects include Jebel Ali Port, Aqaba New Port, and Malé airport in the Maldives.
Hazem Ben-Gacem, Founder and Chief Executive of BlueFive Capital, said: "We see significant opportunity to support its next phase of growth through BlueFive Capital's platform, network and regional ecosystem."
Nelson Gibb, Chief Executive Officer of Dutco Group, commented: "We are pleased to continue our partnership in Gulf Cobla alongside BlueFive Capital."
Both parties plan to collaborate with Gulf Cobla's management to identify expansion opportunities, increase fleet utilisation, and develop new business ventures.
BlueFive Capital is a global investment platform with $15 billion in assets under management, headquartered in the Abu Dhabi Global Market, with offices in London, Manama, Abu Dhabi, Dubai, Muscat, and Beijing. Dutco Group, founded in 1947, is a UAE-based family-owned multinational operating across construction, engineering, manufacturing, hospitality, energy, and real estate in eight countries with over 15,000 employees.