Musharaka Capital acquires 25% stake in ARMAS

17/10/2017 Argaam

Musharaka Capital has acquired a 25 percent stake in ARMAS Company Ltd to enhance the products portfolio of Saudi-based ARMAS, the kitchens and closets designer, manufacturer and supplier through brand names Maromix , Musharaka said in a statement.

 

“This acquisition is part of Musharaka’s strategic plan for 2017, aiming to diversify investments,” said Ibrahim Al-Assaf, chief executive officer of Musharaka Capital. “Musharaka believes in the potential of the Saudi economy, and has a positive outlook for the local manufacturing industries.”

 

ARMAS started a restructuring plan in 2013, which achieved the highest-ever profit margins in 2016, in spite of the market conditions. The company enhanced its corporate structure, improved the operating model, and promoted technical personnel to be able to meet its strategic and financial.

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