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  5. The Abraaj Group Acquires Irradius

M&A Deal Summary

The Abraaj Group Acquires Irradius

On June 1, 2010, asset manager The Abraaj Group acquired financial services company Irradius

Acquisition Highlights
  • This is The Abraaj Group’s 5th transaction in the Financial Services sector.
  • This is The Abraaj Group’s 3rd transaction in Mexico.

M&A Deal Summary
Date 2010-06-01
Target Irradius
Sector Financial Services
Buyer(s) The Abraaj Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Irradius

Mexico
Irradius is the manager of Irradius I, a Mexican trust that invests in a portfolio of low and middle-income houses. It funds projects that are in an advanced phase of completion – primarily land with permits, licenses and certain levels of construction. It then sells the properties through traditional mortgages or the rent-to-own program. Construction and sales are performed by Urbi, one of the top three low-income housing developers in Mexico in terms of revenues and homes built under a strategic alliance.

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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 92 of 182
Sector: Financial Services M&A 5 of 10
Type: Buyout (LBO, MBO, MBI) M&A Deals 84 of 144
Country: Mexico M&A 3 of 5
Year: 2010 M&A 8 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 Mountain Fresh Farms

Samoa

Mountain Fresh Farms is one of the largest primary producers in Samoa and was formerly the largest producer of eggs. Assistance was sought to grow its chicken flock by installing new laying sheds and equipment. Funding was placed on hold when changes in government regulations made local production uncompetitive. Other business opportunities are being pursued with Soil Health Pacific.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-01 Seven Seas Technologies Group

Nairobi, Kenya

Seven Seas Technologies (SST) is an IT solutions provider with operations in Kenya, Uganda and Rwanda. SST’s offerings have evolved from network equipment sales and installation to more complex service provisions such as consulting, systems integration and training. The company’s strategy to develop its product range and focus on key growth sectors has enabled it to further establish itself in the market.

Buy -
Mergr

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