Dubai-based asset manager Sancta Capital is acquiring a 75% stake in UAE-based temporary power and cooling supplier Rental Solutions & Services (RSS) for USD 43 mn, according to a press release. The remaining 25% stake will be retained by RSS as a management incentive.

Where is the money coming from? The investment firm financed the acquisition through the issuance of USD 43 mn Shariah-compliant securitized bonds. The bonds will have a minimum annual yield over four years, the press release says. A portion of the issuance will also be allocated to finance and accelerate RSS’ transition to operating with hybrid solar-diesel power.

Advisors: Sancta Capital appointed Teneo as financial advisor with Addleshaw Goddard serving as counsel.

About Sancta Capital: Founded in 2013, Sancta Capital is a Dubai and Houston-based privatealternative investment firm focused on distressed and deep-value investing across the Middle East and Africa.

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