Deloitte advises on landmark M&A transaction within the Middle East logistics sector has been saved
Deloitte advises on landmark M&A transaction within the Middle East logistics sector
Deloitte advises the owner of Elite Co. on the sale of the company to GreenDome Investments
19 December, 2021 – Deloitte was appointed by Elite Co. to prepare the business for sale, manage a competitive auction process, select a preferred bidder and assist with delivering a successful outcome. The acquirer, GreenDome Investments, is a logistics investment vehicle owned by regional industry leaders. This acquisition represents one of the Middle East region’s largest transactions in the logistics sector.
Elite Co., founded in the 1990s, is a highly specialised overland freight and courier services business with operations and assets across Oman, Bahrain, Qatar and the United Arab Emirates, with its regional hub in Dubai.
“We are delighted to have supported Elite Co. on the sale of the company to GreenDome Investments. This represents a milestone transaction within the regional logistics sector and we wish Elite Co. all the success under its new ownership,” said Mark Taylor, Director, Financial Advisory, Deloitte Middle East.
GreenDome Investments aims to build an integrated logistics services powerhouse to service the Middle East and the world's growing logistics and e-commerce industry. The company is backed by regional industry leaders, including UAE-based Rais Hassan Saadi Group, Sharaf Group and Logipoint, a subsidiary of Saudi Industrial Services Company, SISCO, a listed company on the Saudi Arabia stock exchange.
Robin Butteriss, Partner, Financial Advisory at Deloitte Middle East commented, “At Deloitte we have built a leading team focused on regional mid-market M&A. This recent transaction demonstrates our capabilities and commitment to delivering successful exits to private business owners.”
About Deloitte & Touche (M.E.) LLP:
Deloitte & Touche (M.E.) LLP (DME) is the affiliate for the territories of the Middle East and Cyprus of Deloitte NSE LLP (“NSE”), a UK limited liability partnership and member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”).
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