Media & Communications

provigil without prescription (Manama, Tuesday June 16, 2009) – Bahrain Based Seera Investment Bank B.S.C. (c) which recently won accolades for its BWA acquisition as Deal of The Year 2009 by the Financial Times’ The Banker, today said the outlook for structured Islamic investment deals has not diminished despite the global economic downturn.

According to Mr. Abdulla Janahi, Seera’s Chief Executive Officer:  “Our business approach which comprises working on an equity syndication model has played a pivotal role. We are confident that with our strategy of tapping niche investment opportunities and through the business model we follow, the medium and long term potential for structured Islamic investment deals is actually quite good.”

The positive outlook for structured Islamic investment deals was validated by Seera’s acquisition of the UK based BWA Water Additives (“BWA”), a leading water treatment solution provider, being honored with the Deal Of The Year 2009 Award in the Islamic Finance category by The Banker – the leading international financial affairs publication owned by the Financial Times Limited.

Mr. Janahi added, “In a quiet time for Europe-based Islamic finance deals, this deal stood out given the fact that it was concluded when leveraged finance was going through a difficult period. This recognition is a testament to our team’s contribution to the private equity marketplace.”

Headquartered in the UK, BWA Water Additives has been operating for over 35 years with laboratories in the UK and USA. The Company is a world leader in the development and marketing of high performance specialty chemicals for water treatment. Recently the Company experienced a period of continuous development including significant investment in infrastructure, new product development and human capital to further establish its business, with an operational structure and global platform.

The Company has a well-developed portfolio of high performance branded products to meet the requirements of 370 customers in 85 countries. The portfolio covers three high growth segments: water desalination, industrial water treatment processes and secondary oil recovery. The company’s products are used to treat microbiological growth in process water and to control and prevent corrosion of iron and steel as well as inorganic deposits on the surface of pumps and pipes. It constantly upgrades its products through research conducted at its two laboratories in the UK and the USA.

The acquisition of BWA was financed by a multi-tranche facility of around U$100m, including a mezzanine tranche. Denominated in dollars, the facility was structured to meet the strict Shari’a requirements of Seera Investment Bank.