The National Investor PrJSC (“TNI”) acted as the financial advisor to NCC on the Transaction
October 30th, 2018 – The National Catering Company W.L.L (“NCC”) is pleased to announce that it has finalized the acquisition of a majority stake in Grako LLC (“Grako”) and Gecko Middle East Services Co. LLC (“Gecko”).Grako is a specialized FM company reputed for its ‘high-level access cleaning and maintenance services, most commonly known for cleaning the facades of Burj Khalifa and Dubai Airport for many years. Its sister company, Gecko Middle East (Gecko) is a UAE-based company specializing in ‘industrial rope access’ and ‘coating solutions’.TNI acted as the financial advisor and lead manager to NCC on the transaction and Clyde & Co acted as legal counsel to NCC.
His Excellency Abubaker Seddiq Al Khoori, Chairman, TNI, said, This dynamic partnership, whereby NCC acquired majority shares in both Grako and Gecko, will add new momentum to business growth for all parties immediately and in the long run. We have been studying all viewpoints of this transaction for about 10 months. Finalizing this partnership, we believe that we have placed NCC, Grako and Gecko in a wider window of opportunities for the next 10 years, especially with the recent growth outlook across the FM and industrial sectors. In the UAE, this partnership is expected to be even more promising.”
This alliance supplements NCC’s robust portfolio of services even further, to cater to Abu Dhabi’s marketplace dynamics and challenges, by joining forces with world-class service providers such as Grako and Gecko, especially in light of tighter health, safety and environmental regulations and the growing demand for specialized FM and industrial services.
Both Grako and Gecko will continue to operate independently, led by Alain El-Tawil, who is keen on expanding his Abu Dhabi operations further by leveraging NCC’s well-established client base and reach especially in the oil and gas and maritime industries.
Falling back on all the market predictions, His Excellency Mr. Al Khoori continues saying, “As a leading investment-management and advisory firm, we are constantly on the lookout for strategic and synergistic opportunities that complements and further bolsters NCC’s business goals, market reach and capabilities. By investing in Grako and Gecko’s world-class standards and safety-first philosophy, we were successful in identifying a complementary and like-minded group which is a leader in a parallel sector.”
Abdullah Mazrui, Chairman of NCC, shared, “Both Grako and Gecko have deep knowledge and expertise in their respective fields, which should prove to be extremely valuable for our current and future customers. This partnership aligns with our core strategy on many fronts and reflects NCC’s commitment towards driving growth in our focus sectors by partnering with leading players with high growth potential. We consider Grako and Gecko to be the most suitable partners for NCC to accelerate our growth ambitions in both the FM industry and our support services business targeting industrial sectors. “
NCC, headquartered in Abu Dhabi, is one of the largest support services conglomerates in the UAE, specializing in industrial and corporate catering, facilities management, engineering, retail and F&B.
Since its establishment in 2004, Grako has received multiple FM industry awards for its utmost commitment to safety, high quality workmanship and client satisfaction rating. Today, the company is considered, as the region’s foremost when it comes to high-level rope access cleaning, maintenance, and safety practices when working at height. This has made Grako a distinguished service provider for the UAE’s top master development and asset management companies in the properties, hospitality, entertainment, retail and public sectors.
Gecko, the sister company of Grako, has been operational since 2003 and is globally known to be one of the very first pioneers in industrial rope access in the region. The company has expanded its expertise tremendously ever since. Today Gecko offers a highly specialized range of capabilities on and off ropes – across numerous industries helping their clients gain immediate access to inspect, maintain, repair and protect their multi-million-dollar assets.
Alain El Tawil, Founder and CEO of Grako and Gecko said, “Our firm promise – ‘Quality first and foremost’ – has
steered our lead for the last 15 years in this competitive business, allowing us to deliver unmatched results to our customers every day without fail. As a result, over the years, we have achieved many distinctions and our growth has been exponential year after year. Our vision for growth has no limits and we are very proud to join forces with such a reputable Emirati organization. Along with NCC, we look forward to exploring the new prospects this strategic partnership will create for both Grako and Gecko.”
For more information, please contact Khalil Massoud, Director, Merchant Banking at +971 2 6192 374 or
kmassoud@tni.ae
Notes to Editors
About The National Investor PrJSC: The National Investor (“TNI”) is a leading Abu Dhabi investment-management and advisory firm, listed a private joint stock company on the ADX, the firm is active in several areas, including investment banking, private equity, asset management, real estate, and principal investments. As a regional organization, TNI operates from Abu Dhabi in the UAE. The firm provides a wide range of investment advisory and investment fund management services to a substantial client base that includes listed and unlisted companies, financial and government institutions, and high net-worth individuals. Over the last 24 years, TNI has been successful in positioning itself amongst the region’s most trusted and reputed financial institutions. The firm focuses on delivering consistently superior results in line with its growing reputation as a regional leader. For additional information, please visit: www.tni.ae
About National Catering Company W.L.L: NCC is one of the largest support services conglomerates in the UAE, specializing in industrial and corporate catering, facilities management, engineering, food distribution, retail and F&B. With its headquarters in Abu Dhabi, the company adheres to the highest international standards within its industries; all by leveraging on its experienced management team and workforce as well as their uncompromising approach towards satisfying our clients’ requirements. NCC’s superiority lies within its ability to offer turnkey solutions to its clients wherever they are and notwithstanding the complexity of their requirements. The company has continuously evolved over the years to beat the expectations of its clients, consumers, employees and stakeholders through maintaining a transparent, dynamic and competitive approach since 1995. For additional information, please visit: www.nccauh.ae
About Grako LLC: Grako is a leading facilities management company, specialised in ‘high-level access’ solutions for internal and external cleaning, maintenance and technical needs with operations across the UAE. Winner of multiple industry awards, Grako, adheres to the highest international standards in HSE and holds an unrivalled safety record since its establishment in 2004. All services are executed with utmost emphasis on Quality, Safety & International Standards. GRAKO relentlessly aims to provide its clients with a first class service that adds value at every encounter, which gained the company a “trusted partner” status with over 80 esteemed estates such as Burj Khalifa, Dubai Opera, Mall of the Emirates, Deira and Mirdiff City Centre in Dubai, and Abu Dhabi’s Etihad Towers and World Trade Centre. GRAKO is a full member of IRATA and a corporate member of MEFMA. The company also holds multiple ISO certifications. For more information visit www.grakonet.com
About Gecko Middle East Services Co. LLC: A sister company of Grako is a highly qualified UAE based industrial services company, Gecko offers comprehensive access solutions, inspection and structural integrity surveys, remedial and protective works, coating solutions as well as a wide range of mechanical services for on shore and off shore industries. Owned and managed by a team of highly experienced and skilled technical directors, the company’s strict adherence to international standards of quality has made it a brand name synonymous with safety and reliability. Gecko is a licensed service provider for the oil and gas industry in Dubai, Abu Dhabi and KSA. For additional information, please visit: www.gecko-me.com
