Shuaa Capital, a UAE-based private equity firm, completed the acquisition of Allianz Marine and Logistics Services, a marine transportation services provider. Financial terms were not disclosed. "We are excited by the acquisition of Allianz. We first invested in the sector less than two years ago when we began working on the turnaround of SMG and now have the market leading position in OSVs in the region. Allianz‘s complimentary fleet and high-quality team was always a natural fit for us and, as we consolidate our position, we will continue to look for ways to derive additional synergies. SHUAA strongly believes that the offshore industry will continue to grow, and by creating a leading player in a strategically important segment of the region’s offshore petroleum industry, we are well positioned to capitalize on this trend," Ajit Joshi, SHUAA Capital Managing Director and Head of Public and Private Markets.