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Dubai-based corporate advisor Alpha Management was acquired by Acclime, a Hong Kong-based corporate services provider focused on Asia, for an undisclosed amount, in a push to expand its presence in the UAE, according to a press release. The acquisition will bring Alpha Management ’s clients into Acclime’s fold and enhance its service offerings, with the company set to be rebranded to Acclime by early 2025.
Acclime is no stranger to the UAE: Earlier this year, the firm established its presence in the UAE with the acquisition of Dubai-based MeiPro Corporate Services — now rebranded as Acclime Dubai. Before the acquisition, Acclime was serving UAE-based clients through its purchase of Ocra, a firm licensed in the UAE.
Alpha’s execs get a seat on the board: Post-acquisition, the Dubai-based firm’s co-founder and CEO Shaukat Murad (LinkedIn) will stay involved in the firm’s operations, reporting to Acclime Middle East’s managing director Rajiv Kumar Singh. Alpha’s director Zia Murad (LinkedIn) will take on the role of deputy managing director of Acclime UAE, overseeing the UAE office’s operations and expansion across the Middle East.
About Alpha: Founded in 2007, Alpha Management is registered at both Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM), with plans for a new office in Mauritius, according to its LinkedIn.
IN OTHER M&A NEWS-
GulfNav finalizes terms to acquire Brooge Energy’s assets: Maritime and shipping company GulfNav finalized the acquisition terms for oil storage outfit Brooge Petroleum and Gas Investment Company from Brooge energy, Wam reports. The transaction will be financed through cash and newly issued GulfNav shares on the DFM.
REMEMBER– GulfNav submitted a proposal earlier in the year for the structure of the acquisition of oil storage outfit Brooge Petroleum and Gas Investment Company to the Securities and Commodities Authority, after submitting a proposal to fully acquire the company from Brooge Energy back in October 2023. The acquisition was initially expected to close in 4Q 2023.
