Jadwa Investment, a Saudi Arabia-focused private equity firm and investment bank, has led the acquisition of a majority stake in Saudi Arabia-based engineering company Saudi Mechanical Industries. Arab Petroleum Investments Corporation (APICORP), a multilateral development bank focusing on the oil and gas sector in the Arab world, also participated in the round. Jadwa’s investment was structured through its Jadwa Mechanical Opportunities Fund. Financial details of the transaction were not disclosed.