20.11.2014

KBW continues European expansion

KBW Investments, the owner of Raimondi tower cranes, has acquired a 50 percent stake in Arcadia Engineering, a Romanian based architectural and engineering business.

The closing was marked with a signing ceremony in Dubai between KBW founder Prince Khaled bin Alwaleed - who takes over as chairman of Arcadia - and Florin Nistor Chinole, founder, partner and chief executive of Arcadia Engineering.

Arcadia already has offices in Dubai and Brazil, where KBW has operations, and is now looking to open operations in Saudi Arabia and Qatar.
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Florin Nistor Chinole (L) and Prince Khaled bin Alwaleed of KBW at the signing ceremony

Alwaleed, said: "I envision the upsurge of a new powerhouse of engineering, architecture and project management services in the Middle East. With KBW’s investment, Arcadia is positioned for substantial growth in the Middle East and South America in its core areas of engineering, architecture, design, consultancy and project management services for the construction and manufacturing industries. I am excited about the opportunities Arcadia brings to the KBW portfolio, and to the region at large.”