EuroMena II invests in Khoury Home
Private equity fund adds $13.5 million to Khoury Home’s capital to expand its operations in the region
Private Equity fund EuroMena II, member of Capital Trust group, announced that it has invested $13.5 million in Khoury Home group for the retail of home appliances.
The fund established a company under the name ‘EuroMena Home Holding’ and acquired a stake at Khoury Home group. The Khoury family remains the majority shareholder of the group. The other main shareholder is Syrian investor, Moussa Farhan.
The Managing Director of EuroMena II, Romen Mathieu, said that the main objective of the investment is to increase Khoury Home’s capital in order to help it further expand its operations in the country and across the Arab World. “Khoury Home perfectly matches EuroMena II investment criteria, being a scalable, profitable group with high growth potential,” Mathieu said.
The Chairman of Khoury Home, Georges El Khoury, said that the group intends to expand on the local market through new branches in Tripoli, Zahle, and the South. He said that the group’s strategy is to become a leading regional player in the household retail sector through the help of Euromena II.
Khoury Home acquired the assets of Hokayem S.A.L - its main local competitor- earlier this year. The group now has 14 branches across the country, including the addition of Hokayem.
Khoury Home group has recently started an expansion plan on the regional level. It has partnered with Cherfan Tawil & co (CTC) for manufacturing Samsung phones, air conditions, and computers for the markets in Syria and Jordan through acquiring shares at the Syrian-based company ‘Astrum’.
EuroMena II was established in 2009 with a $100 million equity. It is Capital Trust’s third fund for the Mena region after EuroMena (a $63 million, private equity fund) and MENAVEST (a $54 million private equity fund).
Capital Trust Group is a private equity and real estate firm operating in MENA, Europe, and the United States through its subsidiary companies. The group includes European and Arab investors.
Date Posted: Oct 21, 2011