KBW Investments has announced the signing of a majority acquisition of Grayscale Interiors, a UAE-based company that specialises in interior fit-outs.

The acquisition agreement was signed by Prince Khaled bin Alwaleed bin Talal, chairman of KBW Investments, and Grayscale Interiors founder and managing director, Gary Vastag, during a ceremony in Dubai.

The exact percentage stake and the amount it has been acquired for has not been revealed.

Grayscale Interiors has over two decades of experience in the Australian construction sector and also has projects in the UAE, Qatar and Saudi Arabia. It also has expansion plans now that the KBW acquisition has been completed.

Ahmed Alkhoshaibi, group CEO at KBW Investments commented on the acquisition saying: “After partnering with Grayscale Interiors for several projects that required bespoke interior fit-outs, it was clear that having the company join the KBW Investments portfolio would increase our group’s capability to address projects from the early conceptual development and planning stages, all the way to project management and execution stages.

“Grayscale’s strong focus on business development, industry integrity and best practice implementation, and finally, high quality end product, is exactly the type of venture that appeals to KBW for strategic growth aims.”

Vastag added: “Grayscale Interiors, after satisfying the six-month KBW Investments due diligence process, is now well positioned to continue to scale regionally and further afield in line with the Group’s international network and vision.”

KBW Investments currently has investments in businesses that range from businesses in the construction industry to upcoming technology start-ups.