Unicorn fund acquires 70% of BMDS

Unicorn Investment Bank yesterday said its Unicorn Global Private Equity Fund had acquired 70 per cent equity stake in Bahrain Maintenance and Diving Services (BMDS). The acquisition was completed through the fund's wholly-owned subsidiary, Regional Energy Services Holding. The company didn't disclose how much it paid for the stake.

Aamir Khan, Managing Director of Global Private Equity, said: "BMDS has developed a reputation for being a reliable provider of commercial diving, rigging and fabrication services to the oil and gas sector in the Kingdom. The company is well-placed to leverage its experience and client base to further grow its business."

Ahmed Abdul Rahman, Private Equity Director at Unicorn, said: "We look forward to working with BMDS team to explore the synergies with other portfolio firms held by the Unicorn Global Private Equity Fund and to support the company's next phase of growth."

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