Bahrain-based DGC acquires 50% of Solara Joinery & Interiors' shares

DGC’s investments into the carpentry sector will accelerate Solara’s growth plan and elevate their existing business.

Manama, Bahrain: Dividend Gate Capital (DGC), a Bahrain-based private equity firm, has recently signed an agreement to partner up and acquire 50% of Solara Joinery & Interiors Company, a leading carpentry headquartered in the Kingdom of Bahrain. DGC’s investments into the carpentry sector will accelerate Solara’s growth plan and elevate their existing business and expand their footprint in the Bahraini market as well as the GCC. Solara’s operations are expected to double with a larger facility already underway to accommodate the company’s growth and uptick in demand. The signing ceremony was attended by the Chief Executive Officer (CEO) of DGC, Khaled Al Hammadi, as well as representatives from Solara, namely Ali Al Matrook and Mohammed Haji.

Commenting on the agreement, Khaled Al Hammadi, CEO of DGC, said, “We are pleased and excited to be a part of Solara’s growth and we look forward to working with the existing team. At DGC, we are constantly seeking opportunities to invest in companies in the Kingdom of Bahrain and the region and we constantly look to add value and create synergies in all our acquisitions. The team at Solara are ambitious and I believe that together, we can take this company to the next level and establish ourselves as the premier carpentry firm in the Kingdom.”

Mr. Mohammed Abbas Haji, Chairman of Solara Joinery & Interiors Company said, “As an emerging business seeking to become leaders of the carpentry industry in Bahrain and the region, it gives us great pleasure to partnering up with a well-established private equity firm such as DGC that adds a tremendous amount of knowledge and experience to us. This partnership with DGC demonstrates their trust in our ability to succeed, and this will add value to our business and enable us to grow and reach our maximum potential.”

Solara Joinery & Interiors Company was established in Bahrain in 2015, to cater to the growing need for specialized turnkey interior design and fit-out solutions including joinery, custom and volume case goods and furnishing. The Company has a well-equipped manufacturing facility capable of producing world-class products of international standards. Solara has also provided manufactured furniture, closets and doors to a number of leading projects in the Kingdom of Bahrain including The Grove Hotel, The Grove Resort & Spa, Jewel Hotel, Haji Residence, Zawya 3, and many others.

DGC continues its pursuit of promising opportunities and strives to enhance and diversify its portfolio while enhancing the performance of the acquired entities.