(Abu Dhabi, 9 September 2024) – Gulf Capital, one of the largest private equity firms investing from the GCC to the rest of Asia, announced today its successful exit from Kuiper Australia, in a carve-out transaction from its portfolio company, Kuiper Group, the leading manpower outsourcing company in the offshore energy sector.

The sale was structured as a management buyout, supported by National Bank of Australia. Mr. Mark Somic, Chief Executive Officer of Kuiper Australia, will continue to serve as the Chief Executive Officer of Kuiper Group, and clients will continue to benefit from the synergies and ongoing business affiliation between both independent entities. The sale of Kuiper Australia is the second exit this month for Gulf Capital, following the successful exit of Middle East Glass in Egypt.