Investcorp’s Gulf Opportunity Fund Acquires a 25 Percent Stake in Saudi Arabia’s Leejam Sports Company (MENA)
Investcorp, a global provider and manager of alternative investment products, has acquired a 25 percent stake in Saudi Arabia-based Leejam Sports Company, owner of the sports and fitness brand Fitness Time. The transaction was structured through Investcorp’s Gulf Opportunity Fund. Leejam has over 1,400 employees and currently operates over 62 locations in Saudi Arabia. It plans to use the new capital to consolidate its position in the domestic market and facilitate growth across the Middle East. Financial details of the transaction were not disclosed.