UAE – Abu Dhabi-based holding company, Alpha Dhabi Holding, has acquired a majority stake in Metito Holdings, a specialized firm in the water and wastewater industry.
Pending regulatory approvals, Alpha Dhabi plans to acquire the stake from Metito’s selling shareholders, including Mitsubishi Corporation, Mitsubishi Heavy Industries, and Gulf Capital.
The company did not disclose the size of the stake it would acquire in Metito, which has approximately 20 offices and 4,500 employees worldwide.
Alpha Dhabi also did not disclose the value of the transaction or the funding source for the transaction.
Meanwhile, Metito has built an impressive track record in sustainability-linked projects over the years, which includes the construction of a new seawater treatment facility in Abu Dhabi.
“The acquisition involves Alpha Dhabi purchasing the majority stake from selling shareholders Mitsubishi Corporation, Mitsubishi Heavy Industries, and Gulf Capital,” said the company in a statement.
The Ghandour family, who are Metito’s founding shareholders, will retain their leadership roles, ensuring that the company’s foundational principles of impact, sustainability, and innovation remain intact.
Alpha Dhabi has established Alpha Dhabi Climate Capital, an independent division dedicated to climate-conscious investments. Metito thus becomes a cornerstone initiative within this context.
This move coincides with the UAE’s hosting of COP28, emphasizing the UAE’s dedication to sustainable advancement, access to clean water, and transformative progress for a climate-safe world.
Gulf Capital has been an early investor in clean water and sustainability since 2006 and has assembled a dedicated team focused on sustainable investments.
Gulf Capital is also supporting COP28, the global climate change conference which is organized under the presidency of the UAE from November 30th to December 12th.
The Firm is a signatory of the United Nations Principles for Responsible Investment (UNPRI) and of the Sustainable Markets Initiative (SMI), which was launched by His Majesty King Charles III and provides a roadmap for businesses to move towards a sustainable future by 2030.
Gulf Capital is actively focused on sustainable investments, and no investment illustrates the growth and return potential of this sector more than its early investment in Metito.
Dr. Karim El Solh, Co-Founder and CEO of Gulf Capital said: “Our partnership with Metito began in 2006 with the Ghandour family and the International Finance Corporation (IFC), and in 2014, we were joined by our esteemed Japanese partners, Mitsubishi Corporation and Mitsubishi Heavy Industries.
“Our vision was to build a global leader in sustainable water solutions and, after 17 years together, Metito has become the uncontested global water leader operating in over 50 countries.
“This investment reinforces Gulf Capital’s track record of building global leaders from the Gulf region and of closing successful strategic sales.”
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