GrowthGate Exits Investment in Saudi Steel Fabricator (MENA)

Source: GrowthGate Capital Corporation

GrowthGate Capital Corporation, a growth investment firm focused on the Middle East and North Africa region, has exited its investment in Roots Steel International (RSI), a Saudi Arabia-based steel fabricator. GrowthGate sold its minority stake in RIS, in which it originally invested in 2010, to a consortium of majority shareholders. While financial details of the transaction were not disclosed, GrowthGate reportedly realized a return in excess of 3x as a result of the sale.