QHRI Subscription Documents

Grandview Investment Holdings Corp. (Grandview) is an investment company established by Qalaa Holdings' and co-investors to invest in mid-cap companies in the Middle East and North Africa region with a focus on Egypt. It has invested in key industries including printing and packaging, healthcare, textiles, restaurants, oil and gas services and building materials. Grandview targets companies with an enterprise value of less than USD 40 million. Grandview is managed by Sphinx Capital, a private equity management company.

Grandview has an initial paid-in capital of USD 95 million and has invested approximately 108% of its committed capital in highly successful transactions in key industries. Grandview targets mid-sized companies that are primarily focused on serving the Egyptian market. Qalaa Holdings' internal valuation of Grandview’s portfolio already shows a substantial appreciation in value against acquisition cost.

All of Grandview’s portfolio companies have shown strong resilience during both the 2009-10 economic crisis and the political upheaval that took place in Egypt in early 2011. With several primary and secondary M&A transactions in the pipeline, Grandview aims to create shareholder liquidity while remaining firmly committed to capital growth within the platform company.

Grandview’s diversified portfolio of investments will mitigate the negative short-term impact of an economic slowdown. Portfolio stakes have been revalued accordingly to reflect bearish market conditions, both on the marketability of the assets held and the performance of each company.