Mubasher: Investcorp announced on Sunday that its Gulf Opportunity Fund 1 has completed the sale of its remaining 15.65% share in Gulf Cryo Holding Company to other shareholders of the Company, according to a bourse statement on Sunday.

Investcorp, a leading global provider and manager of alternative investments in Bahrain, said in its statement that Gulf Cryo was established in Kuwait in 1953 and currently it is a leading manufacturer, distributor, and service provider of industrial gases in the Middle East and North Africa (MENA) region and Turkey.

Gulf Cryo produces industrial, medical and specialty gases which are delivered by pipeline, in bulk or in cylinders to a wide range of industries and applications, the statement added.

The sale of Gulf Cryo is considered Investcorp GOF1’s third exit in the GCC region following the sale of the UAE-based Redington Gulf in 2012 and the Saudi Stock Exchange (Tadawul) listing of the Saudi-based L’azurde in 2016.

“The sale of Gulf Cryo marks an important addition to Investcorp’s successful exits in the region,” Tristan de Boysson, Co-head of corporate investment for MENA at Investcorp, said.

The chairman of Gulf Cryo Amer Al Huneidi, commented, “Our partnership with Investcorp started in 2009 as we were looking for a value-added partner to help Gulf Cryo achieve its full potential.”