Standard Chartered Private Equity has closed a $75m mezzanine investment in Hassan Mohammed Jawad & Sons (Jawad Business Group or 'JBG'), a family-owned private company based in Bahrain.
This is Standard Chartered Private Equity’s (SCPEL) first proprietary investment in the Middle East.
SCPEL managing director and regional head of MENA private equity Taimoor Labib said they believe this to be the largest MENA corporate mezzanine investment to date and is a strong indication of their belief in the JBG senior management team.
"As the proprietary investor for Standard Chartered Bank, we are one of the few organizations in the MENA private equity space capable of executing large ticket transactions across asset classes," Labib said.
JBG is a diversified mid-market retailer in the GCC with approximately 660 stores in Bahrain, UAE, Qatar, Kuwait, Saudi Arabia, Oman, and India with distribution centers in Bahrain and Dubai.
JBG’s main franchises include Accessorize, Monsoon, The White Company, Mango, Bhs, Pumpkin Patch, Hush Puppies, Chili’s, Lakeland, Dairy Queen, Costa Coffee, Burger King and Papa John’s Pizza in several GCC countries.