December 29, 2022
Foursan Group, a leading Middle Eastern private equity firm, announced today the successful exit by Foursan Capital Partners I (“FCP I”) of its stake in Nafith Logistics (“Nafith”). Nafith is a leading Jordanian company that develops and operates technology-driven services that increase the productivity of trade processes and shared freight transportation infrastructure to benefit the public and advance commerce. Building on Nafith’s earlier successes in managing the movement of trucks in the port of Aqaba in Jordan, FCP I and its co-investor the IFC assisted Nafith in successfully expanding to Iraq and Oman and managing a challenging regional and international economic and political landscape.
FCP I exited its investment via a management buyout to the company’s Chairman and CEO. Commenting on the transaction, Nashat Masri, a Partner with Foursan Group, stated: “We are pleased with this transaction and the returns we generated for our investors. We are also very proud of the substantial positive economic, environmental and social impact that Nafith has had and will continue to have in Jordan, Iraq and Oman. The company’s senior leadership team demonstrated exceptional skill in growing this company during challenging times and we wish them continuous success in the next phase of the company’s journey.”
Nourah Mehyar, Nafith’s CEO stated: “Our partnership with Foursan helped us take the company to the next level. We successfully worked together to make Nafith a regional champion. We thank Foursan for their various contributions and the great value they delivered.”
With this exit, Foursan successfully exited all of its FCP I portfolio companies.