Saudi KBW acquires 50 percent stake in Arcadia

(MENAFN) KBW Investments announced it has acquired a 50 percent acquisition of Arcadia Engineering, an engineering firm with existing operations in Romania and Brazil, Arabian Business reported.

Arcadia Engineering, which currently has expansion plans for Saudi Arabia, Qatar and the UAE, with a focus on its core areas of engineering, architecture, design, consultancy and project management services for the construction and manufacturing industries.

"Building on more than a decade of experience in the European market, and a consistent record of timely delivery of high quality architecture and customized construction solutions, I am excited about the opportunities Arcadia brings to the KBW portfolio, and to the region at large," KBW's CEO said.

KBW Investments, with its focus on growth opportunities in the Middle East, South America and Europe, has a current portfolio of includes investments in the manufacturing, construction, engineering, energy and technology sectors

The company said that this acquisition is its second European purchase in 2014, the first being Raimondi Cranes, a 150-year-old Italian tower crane manufacturer.