Finance House, a UAE-based independent finance company (FH) has acquired bought CAPM Investment, an Abu Dhabi-based investment firm, for an undisclosed amount.

CAPM provides providing investment banking, asset management and financial advisory services in the UAE, the GCC and the Middle Eastfor an undisclosed sum.

Finance House plans to restructure and develop CAPM, which is expected to boost the former’s investment banking business.

Mohammad Abdullah Al Qubaisi, chairman of Finance House, said: "Conjoining CAPM to our fast growing group is an important strategic move that will allow us to leverage our existing strong customer base which will strengthen our position as a comprehensive financial services group in the UAE market and complete the circle of our products and services offering."

Mahdi Mattar, CEO of CAPM Investment said: "CAPM Investment has launched its operations and is already handling a couple of mandates in both Equity and Debt Capital Markets. The company is currently assuming the lead management role in a local initial public offering (IPO) in the UAE."

CAPM Investment was established in September 2007 as a private joint stock company registered in the Emirate of Abu Dhabi with a capital of AED 55 million.