October 18, 2017 / 6:29 AM / in 10 months

Investcorp agrees to acquire Kee Safety

DUBAI, Oct 18 (Reuters) - Bahrain-listed Investcorp said on Wednesday it has agreed to acquire Kee Safety Ltd, a supplier of safety products, from Dunedin LLP and LDC for an enterprise value of 280 million pounds ($370 million).

Established in the United Kingdom in 1934 and headquartered in Birmingham, Kee Safety is the leading global provider of products associated with working at height, Investcorp said in a statement.

It employs 480 people and has established operations in 10 countries, including the Unites States and China. Investcorp, a private equity and alternative asset company, told Reuters this month that it aims to more than double investments to $50 billion in five years by expanding existing businesses and through acquisitions in areas such as infrastructure.

$1 = 0.7589 pounds Reporting by Saeed Azhar; editing by Jason Neely

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