Kuwaiti European Holdings (KEH) has acquired a 23% equity stake in British financial services firm WH Ireland for £8.4m.
KEH, a holding company for a group of businesses focused on the financial services, leisure and healthcare sector, said that WH Ireland's business model and strategy is highly complementary to that of KEH's financial services businesses – Armila Capital and Al-Fouz Investment Company.
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“This partnership will allow the companies to provide cross-market corporate and capital markets advisory and capital raising services to their respective clients,” KEH said.
As part of the deal, KEH CEO Humphrey Percy has been appointed as a representative on WH Ireland's board.
KEH group CEO Humphrey Percy said: “An important component of KEH’s strategy is to build out a financial services division that can develop a true bridge between investors in Kuwait and elsewhere in the Middle East, and financial markets in Europe, particularly in London.
“Having a significant stake in a prominent London securities house such as WH Ireland is an exciting next step of this strategy and I look forward to working with the team at WH Ireland to build this partnership.”
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By GlobalDataWH Ireland CEO Richard Killingbeck added: “I am pleased to welcome KEH as a long term investor and have no doubt that their involvement will open up significant opportunities for us.”
