Jadwa Investment’s portfolio company completes dividend capitalization

Innova Holdings Limited, a private equity portfolio company of Riyadh-based Jadwa Investment, recently completed a SAR 187.5 million dividend recapitalization transaction, a statement said on Monday.

The transaction allowed Jadwa Refining Opportunity Fund, a private equity fund managed by Jadwa Investment, to return 64 percent of invested capital to fund investors while maintaining the same ownership stake in the company.

Jadwa Refining Opportunity Fund acquired a significant minority stake in Innova Holdings in 2015.  Following the acquisition, Innova has initiated a major construction of a new processing facility that will allow it to triple its production capacity, the statement added.

“When we acquired Innova, it marked our first private equity investment outside Saudi Arabia as we had recognized its potential for growth,” Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, said.

Besides the Innova acquisition, Jadwa has in total deployed around SAR 6 billion in private equity investments across multiple sectors, including manufacturing, industrial, waste management, healthcare, hospitality and entertainment, food and beverage, building materials, consumer electronics, and oil & lubricants, the statement added.