Investcorp takes stake in UAE IT distributor Metra

Bahrain-based Investcorp has acquired what it calls a “strategic” stake in Metra, a UAE-headquartered IT distributor.

The deal is the fourth investment by the Investcorp Saudi Pre-IPO Growth Fund, the alternative investment company said in a statement.

Financial terms were not disclosed.

The partnership supports the expansion of Metra, a third-generation family business, across the GCC, which accounts for almost 70 percent of its revenues.

Metra, which partners with 40 global IT brands, crossed $1 billion in sales last year.

Walid Majdalani, head of private equity emerging markets at Investcorp, said the investment reflects its commitment to high-value industries across the GCC as national visions centred on digital transformation, AI adoption and cybersecurity infrastructure create growth opportunities.

Metra is planning an IPO, the statement said, without providing details.

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The Saudi Pre-IPO Growth Fund has already invested in Saudi-headquartered NourNet, an ICT (information and communication technology) service provider, Salla, a SaaS (software as a service) e-commerce enabler, and TruKKer, a digital truck freight aggregator.

In January, Rishi Kapoor, vice president and chief information officer, said Investcorp was eschewing big investments in data centres, opting instead for sectors offering better returns and protection from geopolitical risks.

The company is focusing on domestic professional, commercial and healthcare services, IT services and transportation, he said.