Samena Capital Completes Landmark Acquisition Of 30.6% Stake In RAK Ceramics

Samena Capital, a principal investment group focused on the Subcontinent, Asia, Middle East and North Africa, today completed the landmark acquisition of 250 million shares of RAK Ceramics PSC, representing 30.6 per cent of the equity of the world’s largest ceramics maker. Under the terms of the transaction, Samena Capital will be represented on the board of RAK Ceramics, and the two companies will work together to use private equity strategies to unlock new growth opportunities.

Listed on the Abu Dhabi Securities Exchange, RAK Ceramics was established in 1989 by H.H. Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah and UAE’s Supreme Council Member, who had the vision of creating an export-focused manufacturer active in more than 160 countries. Today, with annual revenues of approximately US$1 billion, the company’s success is guided by H.H. Sheikh Mohammed Bin Saud Al Qasimi, Crown Prince of Ras Al Khaimah, and the Chairman of RAK Ceramics.

The acquisition was made through Samena Capital’s subsidiary, Samena Limestone Holdings and its consortium of international investors including two Gulf sovereign wealth funds. The shares were acquired from the ruling family of Ras Al Khaimah, who will continue to maintain a significant holding in the business.

H.H. Sheikh Mohammed Bin Saud Al Qasimi, Crown Prince of Ras Al Khaimah, and the Chairman of RAK Ceramics, said: “This investment by Samena Capital heralds the start of a new and exciting chapter in the development of RAK Ceramics. Samena Capital brings a value-added network in our core markets as well as international private equity expertise and business and financial capabilities to our company. We believe that this will add immense value to the organization by sharpening our company’s long-term business strategy, driving further growth and improving our overall productivity.”

Shirish Saraf, Founder & Vice Chairman, Samena Capital Investments Ltd, said: “RAK Ceramics stands apart as home-grown brand that has become a dominant global player within its industry and is a true success of private entrepreneurship from the Arab world. We thank all of our partners for making this deal possible and we look forward to working closely with the RAK Ceramics team to unlock new operational and commercial opportunities.”

Samena Capital was established in 2008 as a principal investment group focusing on the SAMENA region. Its distinctive model brings together entrepreneurs and business leaders from across the region as shareholder-investors. The company has regulated investment advisors based in London, Dubai, Hong Kong and an affiliated office in Mumbai, who collectively manage total capital commitments of approximately US$700 million across three primary investment strategies: private equity, credit and hedge fund seeding.

RAK Ceramics currently exports tiles and other ceramic products across the globe, with an annual output of 117 million square metres of tiles, 4.6 million pieces of bathware and 24 million pieces of tableware.

Emirate:  Ajman

Date: Jun 15, 2014

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