Gulf Capital has announced its exit from Kuiper Australia, while Singapore-based dating service providers Lunch Actually and Paktor have merged.
Gulf Capital marks second exit this month
Gulf Capital, one of the largest private equity firms investing across the GCC and Asia, has announced its exit from Kuiper Australia. This move follows a carve-out transaction from its portfolio company, Kuiper Group, a leading manpower outsourcing firm in the offshore energy sector.
According to an announcement, the sale was structured as a management buyout, supported by the National Bank of Australia. Mark Somic, CEO of Kuiper Australia, will continue to serve as the CEO of Kuiper Group, and clients will continue to benefit from the synergies and ongoing business affiliation between both independent entities.
The sale of Kuiper Australia is the second exit this month for Gulf Capital, following the successful exit of Middle East Glass in Egypt.
Following the acquisition of a majority stake in the leading Dubai-based Oil & Gas offshore crew provider, OCB Oilfield Services, Gulf Capital worked closely with the management team to expand across Asia by acquiring Singapore-based Kuiper International, a dominant player in the offshore construction and maintenance services sector, with a particular stronghold in the Asia Pacific region and Australia.
SG dating apps Lunch Actually, Paktor merge
Singapore-based dating service providers Lunch Actually and Paktor have announced a merger.
Paktor has approximately 20 million users regionally, while Lunch Actually Group has approximately 1.2 million members.
The integrated entity will extend its operations across six key Asian markets — Singapore, Taiwan region, Hong Kong SAR, Malaysia, Thailand and Indonesia, combining a total of 30 years of industry experience, according to an announcement.
“This merger is a timely one, enabling us to complement our online services with a wider range of offline services. We hope to offer singles fun and authentic dating experiences that lead to lasting romantic connections,” said Alex Tam, Group CEO of Paktor.
Founded in July 2013, Paktor Group is owned by Kollective Ventures (KV), a capital advisory and investment firm based in Singapore, which it acquired from Taiwan-based M17 Entertainment in 2020.
In 2017, Lunch Actually Group acquired Indonesian online dating service Setipe.
