Orimix Concrete Products LLC (Orimix) is based in the Emirate of Fujairah in the United Arab Emirates (UAE) and is the leading supplier of readymix cement in the Emirate, with 80% market share. All main private and public contracts in the last 15 years have been served by the company.
Orimix presently operates from three sites, in Fujairah, Dibba and Bidya, with a combined capacity of 135,000 cubic metres per month. The company offers a full range of readymix products, all of which are ISO certified. It operates with strong profits and cash flows and is led by a professional management team with over 40 years of collective experience in the industry.
Orimix has supplied readymix to many high profile projects in Fujairah, including the airport, Etisalat Tower, Le Meridien resort and the Metro refinery. The market in Fujairah has been growing rapidly, and this growth is expected to continue as a result of several mega-projects already in the pipeline. As the leading readymix supplier in Fujairah, Orimix is well placed to benefit from these projects, which are estimated at US$9 billion.
The Unicorn Global Private Equity Fund acquired a 55% stake in Orimix in October 2006. The remaining 40% is held by Bitumat Company Limited and 5% by Unicorn directly.
With the construction sector experiencing rapid growth throughout the GCC region, Unicorn sees significant opportunity to expand Orimix’s operations regionally. This may involve acquiring other readymix operations in other countries or establishing new plants to serve specific mega-projects. Unicorn’s intends to pursue these regional expansion opportunities to further grow the company over the next few years prior to exiting, either via a sale to a larger, regional player or through an IPO.
