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Unicorn Investment Bank has sold 10 per cent stake in Regional Energy Services Holding (RESH), a subsidiary of the Unicorn Global Private Equity Fund I, to Eastern Industrial & Oilfield Services Holding (EIOS), a Bahraini holding company specialising in the oil and gas services sector.
The sale has generated a return on investment (ROI) of 124 per cent to unit holders of the Unicorn Global Private Equity Fund I.
Aamir Khan, managing director of Global Private Equity at Unicorn, said: "We are delighted to welcome a strong, value-added partner into RESH and are confident that RESH and the Global Private Equity Fund I will benefit from EIOS's extensive relationship base as well as the experience, expertise and proven track record of EIOS's exceptional management team."
Ahmed Abdul Rahman, private Equity Director at Unicorn, added: "We are seeing tremendous growth in infrastructure within the regional oil and gas sector, and with that, exponential growth in maintenance and service businesses. Through RESH, we hope to provide unique and integrated solutions to an industry that lacks regional capabilities, and we are confident that EIOS is well-placed to help us achieve this."
