Saudi Industrial Development Fund Investment bets on Investindustrial fund

Saudi Industrial Development Fund Investment Company (Sic) invests in Investindustrial. The Saudi government-controlled company established to promote private sector development and the Italian investment company founded by Andrea C. Bonomi have announced a strategic partnership to attract new industrial investments to the Kingdom. The announcement, which took place yesterday in Riyadh during an official ceremony attended by institutional representatives, including the Italian Ambassador to Saudi Arabia Carlo Baldocci, envisages Sic's first investment in an international private equity fund, with the aim of channelling global institutional capital and industrial know-how to the Kingdom. The initiative is part of the national industrial strategy and Vision 2030, the plan that aims to transform Saudi Arabia into a leading manufacturing and logistics hub on a global scale.

The agreement, reads the statement, aims to stimulate new industrial investments in Saudi Arabia, fostering the development of advanced manufacturing and the integration of Saudi SMEs into Investindustrial's value chain. Sectors covered by this partnership include automation, machinery and equipment, medical devices and consumer products, focusing on local added value and industrial innovation in the Kingdom.

"This agreement represents a new chapter for Sic," said Fahad Al-Naeem, CEO of Sic, who continued: "By partnering with Investindustrial we will integrate global reach, operational depth and industrial specialisation into our ecosystem, positioning Saudi Arabia as a platform for regional and international manufacturing growth. SIC will use its expertise in the local market to pave the way for global manufacturers to establish themselves in Saudi Arabia and connect with the international supply chain, benefiting from the country's competitive position."

The agreement consolidates Investindustrial's presence in the Middle East, promoting regional growth and attracting high-potential companies. The recent opening of a new office in Abu Dhabi, with a team of dedicated professionals, was a strategic step to seize further growth opportunities, including for Investindustrial's portfolio companies already active in the region. Moreover, this new partnership underlines the Group's commitment to continue working with local entrepreneurs to drive sustainable, long-term investments.

"For Investindustrial, the Kingdom of Saudi Arabia represents a key strategic region for the growth of our portfolio companies. Many of our investments are aligned with the goals of Vision 2030, creating strong and natural synergies for solid long-term value creation. The partnership with SIC marks a significant milestone in our commitment to support the Kingdom's economic diversification and industrial development. We are excited to collaborate with SIC and ready to work side by side to promote the sustainable growth of the Saudi industrial sector,' Andrea C. Bonomi, chairman of Investindustrial's advisory board.