Seera sells Kosan Crisplant

DT News Network

Manama 

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Seera Investment Bank B.S.C.(c), a Shari’a compliant investment bank headquartered in Bahrain, announced yesterday the sale of Kosan Crisplant (Kosan), a world leader in filling equipment for LPG gas cylinders, to a regional strategic buyer for DKK424 Million (approximately €57m). 

Kosan, headquartered in Denmark supplies equipment, plants and systems for filling and maintenance of LP gas cylinders and offers after-sales and engineering services, facility management, and supply of components for the gas industry. Since 1951, the group has supplied over 2,600 plants in nearly 130 countries all over the world. 

Hamad Al Ameeri, Seera’s Chairman of the Board of Directors commented “The sale of Kosan to a strategic buyer, who also owns the biggest competitor of Kosan, is the right step in the company’s development as the combined synergies will further strengthen the position of Kosan in the energy sector.” Mr. Al Ameeri further added. 

Abdulla Janahi, Seera’s Chief Executive Officer commented, “Despite the external economic challenges early in Seera's ownership, our private equity portfolio management team worked effectively and creatively with the management of Kosan to enhance the performance of the Company.”