June 2023
Foursan Group, a leading Middle Eastern private equity firm, announced that it has acquired a 60% stake in New Vision for Electronics and Electrical Appliances (“New Vision”).
Founded in 2010, New Vision is the official agent and distributor of LG Electronics in Jordan. To support its retail and distribution business, New Vision runs a factory at which it assembles a few product lines for LG. New Vision won the 2023 LGE MEA Distributors Service Conference Best Performer Award, ranking 1st among 42 centers.
Foursan joined New Vision’s Board of Directors and holds three of the company’s five board seats.
This is the sixth investment by Foursan in its latest fund following its acquisitions of Polymedic, a leading generic pharmaceuticals manufacturer in Morocco, and Sands National Academy, one of the largest K-12 schools in Jordan, Jo Academy, the leading online learning platform in Jordan, MenaITech, a leading HR management system developer in the region and Baida Pack, a leading packaging company specialized in the pharmaceutical industry packaging.