Growthgate Capital Exits Able Logistics for US$32 Million (MENA)
Source: Growthgate Capital
Middle market-focused buyout investor Growthgate Capital has exited its investment in United Arab Emirates-based logistics provider Able Logistics Group by selling its 70 percent stake to Kerry Freight Services (South Asia) for US$32 million. Kerry Freight Services is a wholly owned subsidiary of Hong Kong-listed logistics provider Kerry Logistics Network. Taking into account this transaction and prior dividends, Growthgate has reportedly realized a 3x return on its investment.