Another Achievement for the ART Marine Team

BEIRUT, Lebanon, May 21, 2010 /PRNewswire/ --

- ART Marine Receives the 2010 World of Yachts Award for Innovation and Excellence

ART Marine LLC, an Abraaj Capital portfolio company and the Middle East's largest importer and distributor of pleasure boats and luxury motor yachts, has received the Dealer Innovation and Excellence award in After-sales and Service in the Arab Maritime World for the year 2010. The award was presented to ART Marine on 21st of May 2010 during a Gala dinner at le Royal Hotel in Lebanon.

The event was organized by AMIA, the Arab Marine Industries Association, in collaboration with leading magazine The World of Yachts and Boats.

Commenting on the award, Constantinos Constantinou, ART Marine President and CEO, said: "We are extremely honored and appreciative of the award. Our company continuously strives to offer world-class services to our customers. This recognition can only humble us and motivate us to do more, invest more, innovate more, and to continue raising the bar to the benefit of our customers."

"The entire ART Marine team is passionate about our industry, and shares the love for the sea and boating. We believe that genuine understanding and care for customer needs, combined with high levels of technical capabilities, introduction of fresh ideas and best practices are the foundation of true customer satisfaction. We apply the same philosophy across the entire scope of our business activity."

"I wish to sincerely thank Arab Marine Industries Association and the World of Yachts and Boats magazine for this great initiative, and look forward to living up this Award," Constantinos said.

Matteo Stefanel, Executive Director at Abraaj Capital (ART Marine's majority shareholder), said: "This award is a testament to ART Marine's dedicated employees around the region and their continued commitment to going above and beyond to serve our loyal customer base."

About Abraaj Capital:

Abraaj Capital is the biggest private equity group in the Middle East, North Africa and South Asia (MENASA). Since inception in 2002, it has raised US$ 7 billion and distributed almost US$ 3 billion to its investors. With its headquarters in Dubai, the Abraaj Group operates seven offices in the region including Istanbul, Cairo and Riyadh. It has made more than 35 investments in 11 countries and achieved 20 exits. More than 65 world-class investment professionals work for Abraaj Capital. Abraaj Capital manages seven Funds; four buyout Funds; Riyada Enterprise Development Fund, a Fund dedicated to small and medium enterprises; ASAS, an income-generating, sale-and-leaseback Fund; and a real estate Fund. Funds under management at the end of 2009 were US$ 6.6 billion. Funds managed by Abraaj Capital Group have holdings in about two dozen companies in the region including Air Arabia, the region's biggest low-cost carrier; Acibadem Healthcare Group, Turkey's largest privately owned hospital operator; and Al Borg Laboratories, the Middle East's biggest privately owned medical-testing laboratory company. Abraaj Capital has won many regional and international awards, including five consecutive years as 'Middle Eastern Private Equity Firm of the Year' from London-based Private Equity International. Abraaj Capital Ltd., a member of the Abraaj Group, is licensed by the Dubai Financial Services Authority. The group is also an associate member of the European Venture Capital Association.

    For further press information, please contact:
    Wael Bittar
    Regional Marketing Director
    ART Marine L.L.C.
    T: +971-4-338-8955 - F: +971-4-338-4470
    [email protected]
    http://www.artmarine.net

SOURCE ART Marine LLC

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