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Alcazar Capital

Buyouts & Capital Growth

Highlights

We invest selectively in established businesses at inflection points, providing capital and strategic support to accelerate expansion, enhance operational capabilities and pursue acquisition-led growth.

We focus on companies with:

  • Established operating track record
  • Defensible market positioning
  • Clear scalability potential

Ticket size

SME growth capital / buy-out

$10-50m

Large buy-out

$50-100m

Sectors

Logistics & Transportation

Education

  • Early Childhood Education
  • K12
  • Higher Education

Education Technology (EdTech)

Healthcare

  • Specialty Clinics (Fertility / IVF clinics, mental health & wellness, radiology / diagnostic imaging)
  • Long Term & Home Care
  • MedTech
  • Equipment & Support services

Industrial Products

Geographies

USA

Europe

MENA ( Opportunistic)

Portfolio

UAE
UAE
UAE
UAE
UAE
UAE

Ready to talk?

If you are seeking to sell or acquire a business, raise capital, scale a platform, or invest alongside an experienced partner, let’s start a conversation.

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Creative Technology Solutions

Description

Alcazar Capital, alongside e& capital, invested in CTS, a leading UAE-based Education Technology company providing end-to-end educational and digital solutions that cater to all needs of education institutions in the GCC, from Kindergarten to College. The Company implements Technology in the Education Sector to improve Teaching and Learning outcomes, aiming to bridge the gap between education and technology in the MENA region.

Engagement Details

TVM Healthcare MENA 1 Fund

Description

Alcazar Capital structured and managed an investment in TVM Healthcare MENA I, a specialized healthcare fund managed by TVM Capital Healthcare Partners Limited. Other LPs in the fund include the International Finance Corporation, GE Healthcare and The Olayan Group of Saudi Arabia. The fund invests in highly specialized healthcare services and medical devices across the MENA region.

Engagement Details

  • Date of investment: 2012
  • Fund size: $50m
  • Role: Manager of Alcazar’s investors’ participation in the fund as limited partner (LP)
  • Portfolio companies:
    • Provita International Medical Centre:
      • Provides long-term care and rehabilitation services to patients that require ongoing ventilation support in the UAE.
      • Status: exited – sold to NMC Health Plc for a total cash consideration of $160.6 million
    • Bourne Hall International:
      • Provides fertility and IVF treatments in Dubai
      • Status: exited – sold to Mediclinic
    • Cambridge Medical Rehabilitation:
      • Provides non-acute long-term care and therapies for post-hospital medical and rehabilitative treatment (Abu Dhabi / Al Ain)
      • Status: exited – sold to Amanat Holdings for an enterprise value of $232 million.
    • Manzil Healthcare services:
      • Provides nursing services in Abu Dhabi, Al Ain and Ras Al Khaimah
      • Status: active.
    • Amecath:
      • Egypt-based manufacturer of high-quality, low-cost catheters

Provita International Medical Centre

Description

  • ProVita International Medical Center is a pioneer in UAE long-term care, ventilation, and post-acute rehabilitation, originally developed through TVM Capital MENA’s healthcare fund, in which Alcazar Capital participated as an investor.
  • The Offering: Specialized inpatient care and ventilation management that enables chronically ill and ventilated patients to transition out of hospital intensive care units into a home-like setting. As the region’s first JCI-accredited long-term care provider, ProVita set the benchmark for clinical excellence and patient dignity.

Engagement Details

  • Date of investment: 2012
  • Link to Website: https://www.provita-me.com/
  • Status: Active: Successful exit to NMC Health plc in 2015, at 12.6x EBITDA (US$160.6 million consideration)

Bourne Hall International

Description

  • Bourn Hall Clinic was founded in Bourn, Cambridge, England in 1980 by IVF pioneers Patrick Steptoe and Robert Edwards, the scientists behind Louise Brown, the world’s first IVF baby, born in 1978. Since its founding, Bourn Hall has assisted in the conception of over 10,000 babies. Bourn Hall International marks the company’s first international expansion outside the UK, establishing physical fertility centers in Dubai (UAE) and India.
  • The Offering: IVF and fertility treatment services delivered under the clinical protocols of the original Bourn Hall Clinic.

Engagement Details

  • Date of investment: 2012
  • Alcazar Capital’s involvement in the company’s first international expansion, through clinics in the UAE and India, spanned two angles: equity exposure through its investment in TVM Capital MENA I Fund, and direct debt financing provided to the company.
  • Link to Website: https://www.mediclinic.ae/en/corporate/bournhall-clinic.html
  • Status: Successful exit— Mediclinic Middle East acquired the remaining stake in Bourn Hall Fertility Centre (UAE) in November 2021, having first acquired a 30% stake in December 2018. Consideration not publicly disclosed.

Cambridge Medical Rehabilitation

Description

  • Cambridge Medical & Rehabilitation Center (CMRC) was founded in 2012 by TVM MENA as a specialized post-acute care provider in the UAE, offering long-term care, rehabilitation and services for ventilated patients across inpatient, outpatient and homecare settings. The company operates facilities in Abu Dhabi and Al Ain, UAE, and in Dhahran, Saudi Arabia, with a team of more than 500 highly trained staff. Alcazar Capital’s equity exposure to CMRC came through its investment in TVM MENA I fund.
  • The Offering: Post-acute and rehabilitative care — including inpatient rehabilitation programs, outpatient services, homecare and ventilated-patient care — for patients transitioning out of acute hospital settings.

Engagement Details

  • Equity: Fund investment via TVM Capital MENA I Fund (LP)
  • Date of investment: 2012
  • Link to Website: https://cambridgehospital.com/ae/
  • Status: Successful exit — Amanat Holdings PJSC acquired CMRC in March 2021 for US$232 million, a 4.6x return on capital invested, with a 28.0% gross IRR.

Manzil Healthcare Services

Description

  • Manzil Healthcare Services is a premier provider of high-quality, technology-enabled home healthcare, disease management, and specialized medical manpower solutions. Originally established in 2011 as Emirates Outreach Healthcare Services (EOHS), the company was institutionalized, majority-acquired, and scaled by TVM Capital Healthcare in 2012.
  • The Offering: Comprehensive clinical care delivered directly to patients’ homes, including geriatric care, physiotherapy, pediatric care, complex home ventilation, and infusion therapy.

Engagement Details

  • Alcazar Capital’s equity exposure to Manzil was secured through its LP commitment to the TVM Healthcare MENA I fund.
  • Equity: Fund investment via TVM Capital MENA I Fund (LP)
  • Date of investment: 2012
  • Link to Website: https://manzilhealth.com/
  • Status: Active