Gulf Capital and NBK Capital Partners exit Jordan’s Classic Fashion

Gulf Capital and NBK Capital Partners exit Jordan’s Classic Fashion

Abu Dhabi-based private equity firm Gulf Capital and Dubai-based NBK Capital Partners have exited their investment in Jordan’s Classic Fashion Apparel Industry after a global bank provided a new facility to the company to help it refinance its debt and fuel further expansion. The companies did not disclose the amounts received or the return made on their investment.

The two investors took stakes in the garment manufacturer three years ago to support a refinancing and boost production. During that period, Classic Fashion grew revenues to more than $600m in 2020 from $450 million in 2017.