Bahrain-based Unicorn Investment Bank announced on Monday its global private equity fund had acquired a 70 percent equity stake in Bahrain Maintenance and Diving Services (BMDS), an oil and gas services company.
The acquisition was completed through the fund’s wholly-owned subsidiary, Regional Energy Services Holding, the bank said in a statement.
BMDS specialises in commercial diving, rigging, marine construction and fabrication. The company, which was established in 1976, services a number of companies in the oil and gas sector in Bahrain.
It is the sixth investment by Unicorn’s global private equity fund following previous investments in Orimix Concrete Products, a UAE ready-mix concrete producer; Al Safat Industries Holding Company in Kuwait; Precision Time in Utah, USA; Ellington Leather in Oregon, USA; and Gulf Strategic Partners in Bahrain.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.