mARCH 2012 104 Legal Transactions 

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GULF CAPITAL HAS ACQUIRED A MAJORITY STAKE IN SAKR ENERGY SOLUTIONS

Gulf Capital, one of the largest and most active private equity firms in the Middle East, has acquired an 82.7% stake in Sakr Energy Solutions FZCO (SES), a leading provider of temporary power generation, to capitalise on the growing need for power across the Middle East, Africa and South East Asia. SES operates in a growing region with a booming population, yet with inadequate

power generation infrastructure and deep structural power supply/demand imbalances. The demand for temporary power significantly outstrips supply and this shortfall is expected to increase over the medium to long term on the back of a booming population, especially in the middle East North Africa South East Asia (mENASA) and Africa regions. Commenting on the successful investment, Dr karim El Solh, Chief Executive Officer

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of Gulf Capital said: “We are pleased to have acquired a controlling stake in Sakr Energy Solutions FZCO, a leading company in the temporary power industry in the region. The power sector represents a resilient and rapidly growing sector, not only in the mENA region, but also in South Asia and Sub-Saharan Africa. This investment follows our strategy of investing in defensive and fast growing sectors that benefit from the regional population growth, governmental infrastructure spending and rising GDP per capita. Gulf Capital’s portfolio of private equity investments now comprises an array of defensive investments in the water, power, healthcare and education sectors.” LM

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AMERICAN HOLDCO ACQUIRES SEATRADE INTERNATIONAL CO

East Coast Seafood’s parent company, American Holdco, has acquired Seatrade International Co., one of the United States’ largest scallop processors, with facilities in Portsmouth, N.H., and New Bedford, Mass. michael Tourkistas, president and CEO of Lynn, mass-based East Coast, called the acquisition an “excellent fit;” the two companies already had a strategic relationship. “In keeping with AHI’s strategic vision of vertical and horizontal integration, this acquisition is a step in building a highly diversified seafood company with logistical efficiencies and continued commitments toward sustainable practices and responsible business,” said Tourkistas. Founded in 1981, East Coast is one of the country’s biggest American lobster

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exporters; it owns and operates a number of subsidiaries, including Paturel Interna- tional Co., with processing plants in New Brunswick and Nova Scotia, Canada; World- wide Perishables Enterprises, a perishable freight forwarding company in Chelsea, mass., and Halifax, Nova Scotia; and Canadian Gold Seafood Co., with offices in Halifax and Brussels, Belgium. Seatrade, which just celebrated its 30th anniversary, sells its seafood products

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throughout the United States and Europe. Steve Barndollar, karin Barndollar and Bob Blais will continue to manage Seatrade. “The AHI family of brands complements our business and provides us all an

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excellent platform for growth,” said Barndollar. “Our Seatrade team is excited by the opportunity to address a larger, consolidated customer base, while providing enhanced product offerings and logistical advantages, thereby creating incremental value for all of Seatrade’s stakeholders — our employees, harvesters and customers.” LM