May 11, 2008, United Arab Emirates - Growthgate acquires part of Roots Group

Growthgate Capital Corporation, the GCC-based specialist buyout firm, has announced that it has reached a final agreement to acquire part of Arabian Roots Group, a Saudi based building materials conglomerate, and will separately acquire additional equity interests in this conglomerate's Retail Division. Arabian Roots is a privately held Saudi corporation with sales of circa SAR 700 million and expected profits of SAR 37 million for the fiscal year 2008. The value of the transaction was not disclosed.