M&A Deal Summary

The Abraaj Group Acquires Byco Petroleum Pakistan

On February 1, 2008, asset manager The Abraaj Group acquired energy services and equipment company Byco Petroleum Pakistan

Acquisition Highlights
  • This is The Abraaj Group’s 1st transaction in the Energy Services and Equipment sector.
  • This is The Abraaj Group’s 2nd transaction in Pakistan.

M&A Deal Summary
Date 2008-02-01
Target Byco Petroleum Pakistan
Sector Energy Services and Equipment
Buyer(s) The Abraaj Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Byco Petroleum Pakistan

Karachi, Pakistan
Byco was established in 1995, and—once projects are completed—will operate the largest refinery and chemicals plant in Pakistan. At its existing plant, Byco refines crude oil into products such as high-speed diesel, liquid petroleum gas, motor spirits, high-octane blending components, kerosene and jet fuel. It operates a petroleum marketing business that sells to institutional clients and manages 170 retail outlets.

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Buyer(S) 1

Buyer

The Abraaj Group

Dubai, United Arab Emirates
Category Asset Manager
Founded 2002
PE ASSETS 7.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Abraaj Capital Limited is a private equity firm that seeks investments in the Middle East, North Africa, and South Asia. Abraaj looks for stable, mature businesses and uses a 'buy and build' strategy for growth. Areas of interest include aerospace, healthcare, transportation, financial services, leisure, education, energy, and manufacturing. In addition to its buyout and growth capital investments, Abraaj also invests in real estate and infrastructure. Abraaj Capital was formed in 2002 and is based in Dubai.

DEAL STATS #
Overall 44 of 182
Sector (Energy Services and Equipment) 1 of 4
Type (Buyout (LBO, MBO, MBI)) 39 of 144
Country (Pakistan) 2 of 5
Year (2008) 2 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Tadawi Group

Riyadh, Saudi Arabia

Tadawi was established in Riyadh in April 2005 as the result of a merger of its retail (Atlas Pharmacies) and wholesale (Dar Marwa) operations in the pharmaceutical sector. Tadawi is today the Kingdom's largest retailer and wholesaler of pharmaceutical products with over 470 pharmacies across the country. The wholesale business is the largest in the KSA and serves almost 50% of all retail outlets. The Company's business model is unique in that no pharmaceutical retailer in the Kingdom has a similar dominant position in the wholesale space.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-01 Egyptian Fertilizer SAE

Giza, Egypt

EFC is the largest private sector producer of nitrogen based fertilizer located in Egypt, and the largest Egyptian exporter of fertilizer.

Sell -
Mergr

Product

Company

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