The stake acquisition marks Aliph’s entry into the lifestyle sector
Alif Capital, the first female-founded private equity fund in the Middle East, announced the acquisition of a 25 percent stake in Sunex Group, a leading lifestyle products supplier in the UAE.
The stake acquisition, which marks Aliph’s entry into the lifestyle sector, is in line with the PE’s strategy of investing in high-growth companies in attractive sectors, it said.
Post-stake acquisition, Alif will follow a pro-active management approach to support Sanipex’s market expansion, the company said in a statement.
Huda Al Lawati, Founder and CEO of Alif, and Gaurav Wadhwa, Managing Director, will also join Sanipex board of directors.
Sanipex Group, a local supplier of lifestyle products in the UAE, currently operates in 30 countries, catering to retail, commercial and business customers.
The Group, which is a leader in the bathroom sector with the BAGNODESIGN brand, is rapidly expanding into kitchenware and outdoor furniture categories.
Source: www.arabianbusiness.com