KBW Investments acquires UAE-based fit-out company
KBW Investments has signed a majority acquisition of UAE-headquartered fit-out company, Grayscale Interiors
KBW Investments has signed a majority acquisition of Grayscale Interiors.
The agreement was signed in Dubai, UAE by HRH Prince Khaled bin Alwaleed bin Talal, founding chairman of KBW Investments, and Dr Gary Vastag, managing director of Grayscale Interiors.
Prince Khaled and his colleagues said that the deal would further strengthen KBW Investments’ service offering for the region’s construction sector.
Commenting on the agreement, Ahmed Alkhoshaibi, group chief executive officer of KBW Investments, said: “After partnering with Grayscale Interiors for several projects that required bespoke interior fit-outs, it was clear that having the company join the KBW Investments portfolio would increase our group’s capability to address projects from the early conceptual development and planning stages, all the way to project management and execution stages.
“Grayscale’s strong focus on business development, industry integrity, best practice implementation, and finally, high-quality end product, is exactly the type of venture that appeals to KBW for strategic growth aims.”
Grayscale Interiors, which was founded by Dr Vastag in 2013 and operates from Dubai, specialises in interior fit-outs for a variety of sectors, including hospitality and commercial building developments. Today, the firm boasts projects in the UAE, Qatar, and Saudi Arabia, and plans to expand further following the completion of KBW Investments’ acquisition.
Dr Vastag noted: “Grayscale Interiors, after satisfying the six-month KBW Investments due diligence process, is now well positioned to continue to scale regionally and farther afield in line with the group’s international network and vision.”