Private equity firm BlueFive Capital acquired a 70 per cent stake in UAE-based dredging and land reclamation firm Gulf Cobla.
The transaction involves purchasing the entire 49 per cent shareholding of Advanced Dynamics Investments, an affiliate of Saudi Binladin Group, alongside a 21 per cent holding from Dutco Group.
Following the acquisition, Dutco Group will retain a 30 per cent ownership interest in the marine infrastructure company. Established in 1977, Gulf Cobla specialises in dredging, land reclamation, and marine operations through its fleet of cutter suction dredgers.
The company has previously executed major civil marine projects, including Jebel Ali Port, Aqaba New Port, and Male airport in the Maldives.
Founder and Chief Executive of BlueFive Capital Hazem Ben-Gacem said, “We are delighted to announce this investment in Gulf Cobla, which marks BlueFive Capital’s foray into infrastructure and real assets.”
The involved entities said they plan to work with the management of Gulf Cobla to identify expansion opportunities in high-growth regional markets and increase fleet utilisation.
