KBW Investments, under the direction of founding Chairman HRH Prince Khaled bin Alwaleed bin Talal, today announced the signing of a majority acquisition, adding a new facet to the Group’s existing portfolio of turn-key project solutions.
The acquisition agreement was signed by Prince Khaled in his capacity as Chairman of KBW Investments, and Grayscale Interiors founder and Managing Director, Dr. Gary Vastag, during a ceremony staged in Dubai, UAE.
“After partnering with Grayscale Interiors for several projects that required bespoke interior fit-outs, it was clear that having the company join the KBW Investments portfolio would increase our Group’s capability to address projects from the early conceptual development and planning stages, all the way to project management and execution stages,” said Ahmed Alkhoshaibi, Group CEO, KBW Investments. “Grayscale’s strong focus on business development, industry integrity and best practice implementation, and finally, high quality end product, is exactly the type of venture that appeals to KBW for strategic growth aims,” continued Alkhoshaibi, commenting on the acquisition.
Founded in 2013 by Dr. Vastag, Grayscale Interiors is a three-year-old company operating out of the UAE specializing in interior fit-outs for a varied range of projects across sectors including hospitality and commercial building developments. With more than two decades of practical and theoretical experience in the Australian construction sector, Grayscale, headed by Dr. Vastag, currently has a project roster that includes the UAE, Qatar, and Saudi Arabia, with plans to expand now that the KBW majority acquisition is completed. “Grayscale Interiors, after satisfying the six-month KBW Investments due diligence process, is now well positioned to continue to scale regionally and further afield in line with the Group’s international network and vision,” said Dr. Vastag, remarking on Grayscale’s acquisition.