Established in 2002, Al Assriya Industries Holding Company KSC (c) (AIHC) is a Kuwait-based holding company with investments in the private sector, primarily in Kuwait. AIHC’s strategy is to invest in industrial companies that demonstrate significant growth potential and the ability to deliver superior returns. AIHC currently holds equity stakes in a total of seven companies operating across a range of industries. The two main portfolio companies are:
Al Assriya Printing Press, Publication & Distribution Company WLL (90% stake): Established in 1952, Al Assriya Press prints textbooks and weekly magazines. It also holds licenses for advertising, publicity, photography and media consultancy, and has obtained approval for a license to publish a daily newspaper. It has handled all the publications, media, translation, editing and photography for Kuwait Oil Company for five years. The company’s expansion plans includes moving to larger premises which will allow the company to increase production capacity.
Carpet Manufacturing Company KSC (51% stake): This company was established in 1986 and presently manufactures carpets from a 16,000 square metre site in Sabhan, Kuwait. Carpets are produced to the highest quality, which has allowed the company to succeed both locally and in the export market. Products are distributed through a network of showrooms in Kuwait. The company has two new production lines to increase capacity and to produce carpets for Kuwait’s Amiri Court.
In addition to the above, AIHC holds stakes in:
- Middle East Company for Chemicals Manufacturing WLL, a Kuwait-based company;
- Flexible Industrial Packaging Company, an Omani listed company that supplies packaging to the food, pharmaceutical and cleaning supplies industries;
- Eastern National Company for Oil Services WLL which specializes in technologies for improving the performance of oil fields;
- The Eastern Group for Power Services Company KSC (c) which provides maintenance and general services for oil facilities.
Each of the companies held by AIHC is profitable, with an excellent market position and a clear expansion plan.
The Unicorn Global Private Equity Fund’s acquisition of a 20% stake in AIHC is expected to generate a projected internal rate of return (IRR) of 24%. AIHC intends to list on the Kuwait Stock Exchange by end of 2008/early 2009, which will create value for the shareholders and provide the Fund with an exit opportunity.
