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Philip Dowsett Philip Dowsett Partner Dubai | 804 South Tower, Emirates Financial Tower, Al Sukook Road, DIFC, PO Box 506675, Dubai, United Arab Emirates T +971 4 425 6333 | F +971 4 425 6301 [email protected] Services Mergers and Acquisitions > Private Equity > Corporate > Investment Funds: Middle East > Emerging Markets > Strategic Transactions > Philip Dowsett focuses on complex cross-border mergers and acquisitions, private equity and venture capital matters. Mr. Dowsett also advises on takeovers, divestitures, joint ventures and corporate finance transactions in the Middle East, United Kingdom, Europe and the United States. His practice includes fund formation, fund governance and investment management matters. Mr. Dowsett’s clients include regional and international investors; private equity and venture capital firms; family offices; and sovereign wealth funds and corporates. His clients come from a range of industries, such as energy, healthcare, media and technology, infrastructure, retail and finance. Chambers Global 2020 and 2019 ranks Mr. Dowsett for Corporate/M&A and Investment Funds in the Middle East. Clients describe him as “fantastic”, “very personable” with “a strong positive attitude towards getting a deal done.” He is commended for “his ability to understand the client's objectives and provide solutions which are aligned to them”. Mr. Dowsett is also ranked in The Legal 500 EMEA 2020 and 2019 for Commercial, Corporate and M&A and Investment Funds noting that he is “fast, bright, knowledgeable of commercial matters and makes things happen.” Prior to joining Dechert, Mr. Dowsett was a partner at another global law firm in Dubai. He has previously worked in London and Hong Kong, and completed a secondment at one the largest sovereign wealth funds in the Middle East. EXPERIENCE M&A, private equity, venture capital Healthcare and life sciences Amanat, through its portfolio company IMC, in its acquisition of three medical facilities in Jeddah, Saudi Arabia. Alameda Healthcare on its multi billion merger of equals with Emirates Healthcare Group. The founders of VPS Healthcare in their acquisition of a controlling interest in Amanat Holdings PJSC, a publicly traded company listed on the Dubai Financial Market. Teva Pharmaceuticals in connection with the Middle Eastern aspects of its US$40.5 billion acquisition of Allergan’s worldwide generic pharmaceutical business. TVM Capital Healthcare Partners, as manager of various healthcare funds, in numerous transactions relating to mergers and acquisitions, sales and structured exits. One of the largest Middle East healthcare groups in the buy-out of a leading Egyptian hospital. NMC Healthcare in its acquisition of 70% of As Salama Hospital in the Eastern provinces of Saudi Arabia. Venture capital and emerging business and technology The Public Investment Fund of Saudi Arabia in its US$1+ billion investment in Lucid Motors. Wamda Capital, as manager of the Wamda MENA Ventures Fund I C.V., and certain other vehicles, in a number of Series A and Series B investments in digital platforms. STC Ventures Fund Company B.S.C.(c), a closed-ended technology, media, and telecommunications venture capital fund established by Saudi Telecom Company and managed by Iris Capital, in connection with various Series A and Series B investments and divestitures in digital platforms. A consortium of investors in the US$30 million Series A financing of Awok. FWU Group in its US$25 million acquisition of certain software and technology assets in the life insurance technology space in the DIFC and Pakistan. Genero Capital, as underwriter and sponsor, in the management buyout (MBO) of CashU from Souq.com. Corporate LiveWire recognized the deal in its 2016 M&A awards guide for “Payment Technology Acquisition of the Year – United Arab Emirates." YallaCompare (previously compareit4me.com) in its Series B US$3.5 million convertible financing investment round and its subsequent US$8.5 million Series B financing. Mumzworld on its US$20 million Series B financing. Sprii (formerly Mini Exchange) on its Series A and Series B financing rounds. The Bakery (Abraaj’s venture capital arm), in its Series A investment in an education technology platform. 500 Startups in adapting its investment documentation (KISS notes) for use in the Middle East and advising on a number of seed series investments. Service Souk (aka “movesouq”), an online marketplace for property services, in its US$3 million venture capital investment from Addventure. BitOasis in its structuring and operations for operating a BitCoin platform in the Middle East. The founders of helpAG, an IT security company in the acquisition of an interest by a prominent Middle East private equity investor. Energy Global Petro Storage in numerous matters, including its greenfield investment in the UAE to build, own and operate a hydrocarbon terminal in Hamriyah free zone, and the debt refinancing of its hydrocarbon terminal in Amsterdam. Blue Water Energy, a leading energy focused private equity firm, in connection with a number of investments and acquisitions. A UK-headquartered oil and gas service provider in the MBO of a Middle East business unit. Kentech International on its joint venture in Kazakhstan. A Middle Eastern Sovereign Wealth Fund in the disposal of its interest in a joint venture company providing oil field services in the Middle East. A Middle Eastern Sovereign Wealth Fund in the disposal of its interest in a joint venture company providing engineering, design, procurement and construction services for major oil and gas, refining and petrochemical projects in the Middle East. Gulf Capital Credit Partners in connection with its acquisition of a minority stake in Sakr Energy Solutions, a leading provider of power generation solutions, in conjunction with its secured bilateral financing of Sakr. Tatweer Dubai LLC in its joint venture with New York Mercantile Exchange to establish the Dubai Mercantile Exchange (DME), and subsequent investment and restructuring of the DME group in connection with the acquisition by Oman Investment Fund of an interest in the DME. Al Hassan Ghazi Ibrahim Shaker in acquiring a minority interest a 20% equity interest in Energy Management Services Company, a Dubai-based integrated energy services company which designs, implements and invests in cost effective energy projects. Dubai Mercantile Exchange in the structuring and sell-down of indirect equity in the DME to a number of investors including Goldman Sachs, JP Morgan and Shell. The shareholders of Gulf Perlite Limited in connection with the acquisition of a minority interest in the group by a leading Middle Eastern private equity firm. Lime Rock Partners L.P. and portfolio companies in connection with various energy sector transactions including Lime Rock's investments in Artificial Lift Company Ltd., DHS Oil International, Expert Petroleum, OiLSERV, Tercel Oilfield Products and TGT Oilfield Services. Consumer, financial services, industrial and other StonePine Capital Partners on the acquisition of Taaleem Management Services Company, a leading higher education platform in Egypt. The Constellis Group in its US$550 million acquisition of Olive Group Holdings, a Dubai-based provider of professional security services primarily to large international oil and gas companies. A Middle Eastern Sovereign Wealth Fund in its €120 million investment in a Bermudian based insurance company. Hedi Mlouka, founder and owner of Frontier Investment Management Partners Ltd., in the back-to-back acquisition and sale of a US$21.5 million equity investment by EFG Hermes UAE Ltd. Indorama Ventures, a global chemical producer, in its joint venture agreement with Dhunseri Petrochem to acquire its Egyptian Indian Polyester company in Ain Sokhna, Egypt. Gulf Capital Credit Partners in connection with its US$30 million investment in Evolvence Knowledge Investments, an entity engaged in the establishment and operation of private schools and nurseries in the GCC including the renowned Repton School Dubai. GFH Capital in the structuring and acquisition of a US$125 million industrial real estate portfolio in the United States. Intermena on its ADGM domiciled joint venture and franchising arrangements to launch a number of food and beverage outlets in Saudi Arabia. The sellers in the disposal of interest in a chain of baby boutiques across the United Arab Emirates. Saudi Printing and Packaging Company, a listed Saudi company, in its acquisition of 100% of the share capital of Emirates National Factory for Plastic Industries. Dubai International Capital L.L.C. in a number of its Middle Eastern exits. Rivoli Group in connection with its joint venture for Qatari retail operations. CedarBridge Partners in its acquisition of a controlling interest in a chain of leading spas and salons in the UAE. Saraya Holdings Limited in connection with its establishment and restructuring of operations in the Dubai International Financial Centre, by way of share swap arrangements, in the amount of US$128.5 million. Fox Sports in the acquisition of programming and distribution rights for various international sporting events including Formula 1, the English Premier League and the World Cup. Huntsman LLC, a major global chemicals company, in connection with its acquisition through an asset purchase of the global textile effects business of Ciba Specialty Chemicals with assets in over 60 jurisdictions. Fund structuring and formation Humania Capital on the structuring, documentation and formation of its private equity healthcare
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