Winston Taylor is pleased to have advised Shorooq, the leading regional multi-strategy investment firm, as legal counsel on its strategic growth investment in Fleet Management Systems International (FMSi) alongside the Emirates Growth Fund (EGF), the UAE's flagship AED1B growth equity platform. FMSi is one of the region's leading providers of fleet management technology.
The investment was led and arranged by Shorooq through its private equity strategy, alongside a group of co-investors, and marks a collaboration between Shorooq and EGF. The transaction is a significant milestone and will support FMSi's next phase of growth as it scales across the Gulf and builds a consolidated regional platform from its offices in the UAE, Oman, Saudi Arabia and Iraq.
Winston Taylor advised Shorooq on all legal aspects of the transaction, including deal structuring as well as drafting and negotiation of the transaction documentation. The team also coordinated legal due diligence across the jurisdictions in which the FMSi group operates, including the UAE, Oman, Saudi Arabia and Iraq, and advised on the corporate, regulatory and licensing matters relevant to closing the deal across those jurisdictions.
The Winston Taylor deal team was led by Partner Abdullah Mutawi, supported by Samy Elsheikh (Senior Counsel) and Laura Sperling (Associate).