Alif Capital strikes deal to acquire 25% stake in UAE-based lifestyle products supplier Sunex Group

The stake acquisition marks Aliph’s entry into the lifestyle sector

Alif Capital, the first female-founded private equity fund in the Middle East, announced the acquisition of a 25 percent stake in Sunex Group, a leading lifestyle products supplier in the UAE.

The stake acquisition, which marks Aliph’s entry into the lifestyle sector, is in line with the PE’s strategy of investing in high-growth companies in attractive sectors, it said.

Post-stake acquisition, Alif will follow a pro-active management approach to support Sanipex’s market expansion, the company said in a statement.

Huda Al Lawati, Founder and CEO of Alif, and Gaurav Wadhwa, Managing Director, will also join Sanipex board of directors.

Sanipex Group, a local supplier of lifestyle products in the UAE, currently operates in 30 countries, catering to retail, commercial and business customers.

The Group, which is a leader in the bathroom sector with the BAGNODESIGN brand, is rapidly expanding into kitchenware and outdoor furniture categories.

Source: www.arabianbusiness.com

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