October 18, 2017 / 6:35 AM / a month ago

Investcorp agrees to acquire Kee Safety

DUBAI (Reuters) - Bahrain-listed Investcorp INVB.BH said on Wednesday it has agreed to acquire Kee Safety Ltd, a supplier of safety products, from Dunedin LLP and LDC for an enterprise value of 280 million pounds ($370 million).

Established in the United Kingdom in 1934 and headquartered in Birmingham, Kee Safety is the leading global provider of products associated with working at height, Investcorp said in a statement.

It employs 480 people and has established operations in 10 countries, including the Unites States and China.

Investcorp, a private equity and alternative asset company, told Reuters this month that it aims to more than double investments to $50 billion in five years by expanding existing businesses and through acquisitions in areas such as infrastructure.

($1 = 0.7589 pounds)

Reporting by Saeed Azhar; editing by Jason Neely

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