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UAE's TNI buys 50 percent stake in NCC
(MENAFN) The National Investor (TNI) announced that it has acquired, along with a consortium of Abu Dhabi-based investors, a 50 percent equity stake in National Catering Company (NCC), a private industrial catering and facility management businesses in the UAE
NCC, which operates in the fields of industrial catering and facilities management, such as supermarkets, caf"s and diet management services, serves a wide range of customers in the oil & gas, construction, healthcare and government sectors, and has recently expanded its business into Kuwait and Yemen.
The company, which registered a growth by more than nine-fold from 2006 to 2013 in its revenues, at a compounded annual growth rate of 36.2 per cent, employs over 6.000 employees from 150 nationalities, and has a market value of USD299.41 million.
"We expect the company to continue to capture market share in the expanding oil & gas onshore and offshore industrial catering market in Abu Dhabi, benefit from the continued increase in construction activity in the UAE, and replicate its successful business model across the GCC," Chairman of TNI said.
NCC, which operates in the fields of industrial catering and facilities management, such as supermarkets, caf"s and diet management services, serves a wide range of customers in the oil & gas, construction, healthcare and government sectors, and has recently expanded its business into Kuwait and Yemen.
The company, which registered a growth by more than nine-fold from 2006 to 2013 in its revenues, at a compounded annual growth rate of 36.2 per cent, employs over 6.000 employees from 150 nationalities, and has a market value of USD299.41 million.
"We expect the company to continue to capture market share in the expanding oil & gas onshore and offshore industrial catering market in Abu Dhabi, benefit from the continued increase in construction activity in the UAE, and replicate its successful business model across the GCC," Chairman of TNI said.
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