Swicorp, a private equity firm, has announced the sale of a 20% stake in Ghani Glass, held by Joussour Holding Company (JHC).

JHC is a private equity investment vehicle managed by Swicorp that invests in energy and energy intensive industries.

Established in 1993, Ghani Glass is one of the largest glass manufacturers in Pakistan. Since JHC’s initial investment in 2007, the company has witnessed strong growth, more than doubling its top and bottom line on the back of capacity expansions, including the commissioning of the first pharmaceutical glass manufacturing project in the Middle East and North African (MENA) region, based on European technology.

Nabil Triki, Swicorp Head of Private Equity said: “When we invested in Ghani Glass five years ago, our ambition was to significantly grow its top and bottom line and allow the company to establish a footprint beyond the borders of Pakistan. Although faced with challenging local and international markets, the company was able to navigate through consecutive crises and we are satisfied we were able to contribute directly to profitability growth.”