IMAP Expands Foothold in GCC with new Partner Alpen Capital

Providing Sound Solutions Since 2005

Alpen Capital is an investment banking advisory firm specializing in providing customized solutions in the areas of debt, M&A, and equity to institutional and corporate clients. With deep local know-how and regional expertise, we have executed transactions for leading business conglomerates and financial institutions across the GCC, South Asia, Levant, and Africa. We have offices in Dubai, Abu Dhabi, Doha, Muscat, and India and an operational footprint in over 30 countries.

Our vast network of international investors and funders gives us the ability to structure unique and innovative solutions for companies who are looking to grow the long-term value of their business. Our clients are based across various sectors such as Retail, Healthcare, Insurance, Hospitality, Education, Food, and Technology

We are committed to partnering with companies that focus on Environmental Social Governance (ESG) and support in achieving Sustainable Development Goals (SDGs) outlined by the United Nations. We have completed more than 30 transactions with Development Financial Institutions and Impact Investing Funds that have aided financial inclusion, women empowerment and agribusiness in emerging markets and supported at least nine different SDGs.

GCC – A Preferred Investment Destination

The GCC countries, comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE), have emerged as a significant force in the global economy. With their strategic location, abundant natural resources, and a growing population, these countries have experienced rapid economic development and have become key players in sectors such as Energy, Finance, Real Estate, and Tourism. The GCC countries offer a unique blend of modern infrastructure, business-friendly environment, and favorable investment opportunities, making them an attractive destination for local and international investors alike. Over the past four decades, they have also made significant strides in enhancing regulatory frameworks and strengthening governance, further enhancing the region’s appeal as an investment destination.

Market Overview

The GCC region is a dynamic hub of development and transformation, and its M&A landscape has been closely aligned with this progress. Over the past five years, the GCC has experienced a significant surge in M&A activity, with a total of 1,035 deals valuing at least a staggering US$ 241.4 billion1. This upward trend is evident in the substantial increase in the recorded number of deals, rising from 154 in 2018 to 290 in 2022, an 88% increase. Despite the unprecedented challenges posed by the COVID-19 pandemic, the region recorded 148 deals in 2020, demonstrating remarkable resilience and continuous advancement. This underscores the region’s consistent improvement and development, highlighting its growing prominence as a key player in the global M&A arena.

Among the six countries comprising the GCC, Saudi Arabia and the UAE stand as the dominant forces, commanding a substantial share of both the number and value of M&A deals. These two countries collectively account for over 85% of the total number of deals and deal value within the region. Notably, the UAE has witnessed a remarkable 678 deals since 2018, accumulating a total reported deal value of US$ 86 billion2. On the other hand, although Saudi Arabia has recorded a relatively lower number at 268 deals, the value of these deals reached an astounding US$ 143 billion.

Investor Profile

A significant proportion of M&A transactions in the GCC are driven by acquirers from the Middle East, particularly within the GCC itself. With investors from the Middle East and Africa (MEA) region contributing to more than half of all transactions, it is noteworthy that Saudi Arabia and the UAE collectively account for over 80% of these deals. On the other hand, the remaining M&A transactions involve acquirers from countries outside the MEA region, highlighting the growing economic significance and global integration of the GCC

Sector Profile

The M&A landscape within the GCC has been characterized by a concentration of activity within the Financial and Technology sectors, which together accounted for nearly half of all deals in the region since 2018. However, the Basic Materials, Energy and Financial sectors have the largest share of deal value with 31%, 24% and 23% respectively.

M&A Outlook

The region's robust M&A activity signifies its attractiveness as a destination for investments and highlights its ongoing transformation in various sectors. Recent trends indicate a growing emphasis on privatizing and diversifying the region's economy, along with continued interest from investors in traditional industries.

Additionally, there is a keen focus on enhancing the capital market and improving foreign direct investments. Looking ahead, the GCC region presents promising opportunities, particularly within the Healthcare, Hospitality and Education sectors as well as various Industrial Manufacturing sub-sectors. As the GCC governments continue to foster economic development and industry growth, these sectors are expected to emerge as attractive investment prospects not only for regional investors, but also for global players

Joining IMAP - Further Strengthening Our Capabilities

Over the past two decades, Alpen Capital has successfully established itself as one of the top investment banking advisory firms in the GCC region Expanding our horizons, we ventured into the Asian market where we advised reputable business groups and financial institutions in India, Sri Lanka, Bangladesh, and Cambodia to meet their strategic objectives. This I success story sandy continued as we embraced opportunities in Levant and Africa, executing multiple deals in various countries like Lebanon, Jordan, Kenya, Tanzania, Nigeria, South Africa, among others. Our successful expansion into markets beyond the CC demonstrates our ability to thrive in diverse markets and cater to the unique investment needs of our clients. Today, our operational reach extends across 36 countries. from the UK to Vietnam

Collaborating with IMAP offers us a remarkable platform for further growth and consolidation in both the developed and developing markets. Building on our strong presence in the region, this partnership expands our reach further to source and execute transactions in collaboration with other IMAP partner firms worldwide. At the same time, other IMAP members will also benefit from our extensive network of relationships and expertise in our operating markets. Since joining IMAP, we have engaged with more than 20 partner firms on various opportunities and mandates across the sectors and we look forward to leveraging this alliance to unlock even greater value for our clients.