Five Largest MENA PE & VC Backed Exits, from 2023 to H1 2024

The following are the five largest private equity (PE) and venture capital (VC)-backed exits in the MENA region from 2023 to H1 2024, showcasing significant activity across diverse sectors including healthcare, energy, utilities, food manufacturing, and mobility.

• PureHealth (UAE) – $8.87B IPO (December 2023): Founded in Abu Dhabi, PureHealth operates as a leading healthcare services provider, specializing in diagnostics and hospital management. Its blockbuster IPO on the Abu Dhabi Securities Exchange underscores the rapid expansion of the healthcare sector in the UAE, capitalizing on growing regional demand.

• OBA Makarna (Turkey) – $518.3M IPO (March 2024): A major player in Turkey’s food manufacturing industry, OBA Makarna, a pasta producer founded in Gaziantep, took advantage of strong investor appetite through its IPO on Borsa Istanbul. This exit reflects the rising global interest in the agri-food sector as food security remains a pressing concern.

• SWS Holding (UAE) – $462.8M Acquisition (June 2024): A specialized services provider for water and wastewater management, SWS Holding was founded in Abu Dhabi. Its acquisition highlights increased consolidation in the utilities sector, driven by the need for sustainable infrastructure.

• ADES Holding (UAE) – $290.4M IPO (October 2023): An oilfield services provider, ADES Holding, originally established in Dubai, successfully listed on the Saudi Exchange (Tadawul). This IPO underscores the continued importance of the energy sector in the Gulf region, especially as oil prices remain volatile.

• Marti (Turkey) – $235.4M IPO (July 2023): Founded in Istanbul, Marti is a micro-mobility platform offering electric scooters and bikes. Its IPO signals growing interest in sustainable urban transport solutions, as investors increasingly focus on green mobility and tech-driven transportation models.