TLA Represents Al Yusr Shareholders in Sale to InvestcorpOctober 2013
The law firm of Tribonian Law Advisors (TLA) announces that it represented the shareholders of Al Yusr Industrial Contracting Company WLL (“AYTB”) in the sale of 38% stake in AYTB to Investcorp’s Gulf Opportunity Fund. AYTB is a leading provider of technical industrial support services to the petrochemical, oil and gas and other key industrial sectors in Saudi Arabia and Qatar.
AYTB was founded in 1979 in Jubail and over its 33 year history has made a significant contribution to the industrial growth of the Kingdom of Saudi Arabia. The company has rapidly developed its capabilities and offering to become a leading provider of a full range of industrial services outsourcing solutions to support its clients’ needs in operation and maintenance, construction and fabrication, industrial cleaning as well as facility management, catering and accommodation services.
AYTB’s clients include many of the region’s leading petrochemical and oil & gas companies including SABIC and Saudi Aramco. The company employs over 4,000 people across its operations in Saudi Arabia and Qatar.
Investcorp has extensive experience of acquiring, creating value in and successfully exiting companies engaged in the oil and gas sector. Just four months ago, the Investcorp Gulf Opportunity Fund also invested in Hydrasun, an international provider of fluid control equipment and solutions for the global offshore oil and gas sector. In 2007, Investcorp acquired Moody International, a leading global provider of inspection services and international certification. During Investcorp’s ownership the company completed six add-on acquisitions, facilitating the company’s international expansion.
The TLA team was led by the firm's managing partner, Rindala Beydoun, and partner Carlo Pianese, who were assisted by Saudi partner, Mothanna El-Gasseer, and associates Jihad Harfouche and Celine Bsaibes. DeNovo Corporate Advisors acted as financial advisor to AYTB.