Istithmar buys 40% stake in spa company


Istithmar World Capital (IWC) has acquired a 40 per cent stake in Espa International, a United Kingdom-based luxury spa company.

Espa, which was founded in 1993, offers a spa design and management service, a range of natural product, innovative treatments and a postgraduate therapist training programme.

“I am delighted to be working in partnership with IWC in order to continue to be the luxury spa brand of the world and further enhance our reputation,” said Espa’s Chief Executive and founder Susan Harmsworth.

“As the spa-goer becomes more sophisticated and internationally travelled, investment in our brand’s underlying infrastructure has become essential in order for us to bring greater value and further extend our services to the clients.

“As a brand, our commitment remains to luxury, niche and excellence in spa and wellness.”

IWC Vice-Chairman Adel Al Shirawi said: “Our focus is on iconic brands and the luxury market is paramount to us. Our desire is to continue to build our portfolio of luxury brands and the ever-growing spa and wellness sector is a natural direction.

“In our extensive research of the global spa market, Espa International stood above the rest in terms of excellence in standards and reputation.”

Istithmar World Capital is a private equity and alternative investment house belonging to Dubai World an office in Shanghai. In the four years since its inception, Istithmar World Capital has invested in more than 35 companies with total capital deployed in excess of $ 3 billion (Dh11bn) .

Istithmar World Capital has successfully established itself as a major investment company with a broad portfolio of successful firms in markets ranging from North America and Europe to the Middle East and the Far East, as well as across a variety of sectors ranging from consumer to industrial and financial services.

Espa is an international company at the most prestigious level of the industry.

The numbers

1993: The year Espa International was founded

35: Number of companies IWC has invested in