Creative Zone Group, a corporate service provider established in Dubai in 2010 by Steve Mayne and Mahesh Dalamal, has been acquired by Encor Group, which is headquartered in Hong Kong. The financial details of the acquisition have not been disclosed. As part of this transition, all shareholders have completely exited and are no longer involved in the operations of Creative Zone, according to a statement from the company to Entrepreneur Middle East.

Currently, Creative Zone Group employs approximately 350 individuals and serves over 75 000 clients in the UAE, Saudi Arabia, and Qatar. The acquisition is poised to leverage growth in the corporate service provider sector across the Gulf Cooperation Council (GCC) region. This investment will facilitate Creative Zone’s expansion in the GCC while utilizing the connections provided by Encor’s services and clientele in significant Asian markets.

Kuo Chuan Kung, Managing Partner of Nexus Point, an Asian private equity firm that is the majority owner of Encor, remarked that “Creative Zone is a leading CSP in the GCC, and we are excited to support Encor in its expansion to this attractive, fast-growing region.”

The management team of Creative Zone will continue to lead the company, aiding its integration into Encor’s global platform. Lorenzo Jooris, the Group CEO of Creative Zone, will join Encor’s Executive Leadership Team following the acquisition’s closure. Jooris stated, “Today’s announcement represents a significant milestone for Creative Zone. Encor and its investors bring considerable financial resources and operating expertise to the table, enabling us to enter an exciting new phase of our growth strategy into global markets. Our combined strengths will accelerate the growth of our business, enhancing our ability to deliver innovative solutions that meet growing demands within and beyond the GCC.”