BlueFive Capital Acquires Majority Stake in Gulf Cobla

BlueFive Capital has significantly expanded its footprint in the infrastructure sector by acquiring a substantial 70% ownership in Gulf Cobla LLC, a prominent United Arab Emirates-based entity specializing in dredging and land reclamation. This strategic move marks BlueFive Capital's formal entry into real assets, leveraging its growing investment platform to bolster a company with a nearly five-decade history in critical regional development projects.

The transaction involved BlueFive Capital securing the entirety of the 49% stake previously held by Advanced Dynamics Investments, an affiliate of the Saudi Binladin Group, alongside a 21% interest divested by Dutco Group. Following this acquisition, Dutco Group will retain a significant minority position, holding the remaining 30% of Gulf Cobla, signaling a continued partnership and shared vision for the company's future.

Established in 1977 under the patronage of the late Sheikh Rashid bin Saeed Al Maktoum, a pivotal figure in Dubai's modernization, Gulf Cobla has been instrumental in shaping the Middle East's maritime infrastructure. The company's expertise, demonstrated through its fleet of cutter suction dredgers and specialized marine equipment, has been crucial for major undertakings such as the development of Jebel Ali Port, Aqaba New Port, and the Male airport expansion in the Maldives. This deep operational history provides a solid foundation for future growth.

Hazem Ben-Gacem, Founder and Chief Executive of BlueFive Capital, expressed enthusiasm for the investment, highlighting Gulf Cobla's established reputation and the substantial growth potential within the infrastructure and real assets domain. He emphasized that BlueFive Capital's platform, extensive network, and regional presence are well-positioned to support Gulf Cobla's next developmental phase. This acquisition aligns with BlueFive Capital's broader strategy of targeting high-potential economies and transforming financial models for sustainable expansion.

Nelson Gibb, Group CEO of Dutco, welcomed the collaboration with BlueFive Capital, underscoring the enduring legacy and experienced management of Gulf Cobla. He stated that the partnership is expected to enhance the company's capabilities and build upon its established heritage in the competitive regional dredging market. The shared objective is to drive further development and capitalize on emerging opportunities.

Looking ahead, both BlueFive Capital and Dutco Group are committed to working closely with Gulf Cobla's management team. Key priorities include identifying expansion avenues in rapidly growing regional markets, optimizing fleet utilization, and cultivating new business ventures. This collaborative approach aims to unlock new value and solidify Gulf Cobla's position as a leader in marine infrastructure development across the Middle East and South Asia.