Dubai – Mubasher: Shuaa Capital has completed its acquisition of Allianz Marine and Logistics Services Holding Limited (Allianz) by its managed fund after raising a seven-year facility worth $160 million.

The company has secured the facility from National Bank of Fujairah (NBF) and Arab Petroleum Investments Corporation (APICORP), according to a press release on Tuesday.

The facility is one of the largest secured overnight funding rates (SOFR) of its size for a leveraged buyout (LBO) transaction in the region.

This transaction is the second strategic investment by Shuaa's managed fund in the offshore support vessel (OSV) sector following the acquisition of Dubai-based Stanford Marine Group (SMG).

The Group CEO of Shuaa Capital, Jassim Alseddiqi, said: "This transaction is a testament to their commitment to the growth of regional champions. The SOFR-based financing solution demonstrates our dynamism to quickly adapt to the evolving trends in the financing markets."

Meanwhile, the Head of Corporate Banking at NBF, Neill Robertson-Jones, commented: "Not only is this a testament to the strong relationship we have built with SHUAA, but it also reflects our confidence in Allianz's strengths to capitalize on growth opportunities in the offshore oil and gas sector, which is a priority sector for us."