Masharie LLC, a private equity branch of Dubai Investments PJSC, recently divested 51 percent of its stake in Techno Rubber Company (TRC) as well as the International Rubber Company (IRC).
The divestment amounts to just under $10 million. The sale of the stakes benefited Masharie by an internal rate of return of approximately 18 percent.
“Since our investments in IRC and TRC had reached maturity stage, Masharie decided to exit these companies with a view to reinvest the proceeds into higher return generating assets and investments,” Khalid Al Jarwan, general manager of Masharie LLC, said. “Backed by its extremely healthy liquidity position, Masharie is poised for aggressive growth in the coming years, driven by the expansion plans of its existing portfolio companies.”
IRC runs a 107,639-square-foot facility at Dubai Investments Park (DIP). The company is one of the top producers of synthetic rubber profiles within the Middle East.
TRC, which is based in Dammam, Saudi Arabia, produces a variety of rubber products used for waterproof membranes and architectural applications.
“Conditions are favorable to explore further acquisitions, and Masharie has identified sectors such as infrastructure, health care and hospitality to target new investments in the range of AED 60 million to AED 100 million,” Al Jarwan said.