Monstarlab Holdings Acquires ecap (UAE). Led by WellBear Co-Founder in Prior Principal Role

Deal Overview

Monstarlab Holdings, Inc. (headquartered in Shibuya-ku, Tokyo; Group CEO and Representative Director Hiroki Inagawa) acquired ECAP DMCC (hereinafter, "ecap"), a Dubai-based executive search firm. The agreement was announced on September 13, 2021 and closed in October 2021. The transaction was executed as part of Monstarlab's strategic expansion of end-to-end digital transformation services across the MENA (Middle East and North Africa) region, and to strengthen its market position in the region.

This transaction is included here as an example of the prior principal experience of our team. Prior to founding WellBear, our Co-Founder Yuta Sakurai led this deal in his role as the internal M&A lead at Monstarlab Holdings. This is not a WellBear advisory engagement, but rather a representative example of our team's operator-side experience executing global-caliber cross-border M&A. Sakurai acted end to end as the internal principal: deal structuring, valuation, negotiation, due diligence, contract execution, and initial PMI design.

Deal Summary

• Acquirer: Monstarlab Holdings, Inc.
• Target: ECAP DMCC
• Location: Target HQ in Dubai, UAE. Acquirer HQ in Shibuya-ku, Tokyo
• Industry: Executive Search / Leadership Assessment / Talent Consulting
• Structure: Share Acquisition (Subsidiarization)
• Our Team's Involvement: Principal
• Announced: September 13, 2021

About ecap

ecap (official name: ECAP DMCC) is a Dubai-based executive search and leadership consulting firm founded in 2019. Co-founders and Directors Christopher Abreu and Daniel Murphy bring more than twenty years of emerging and frontier markets experience and more than thirty years of combined experience in leadership assessment, board advisory, and executive search. Under their leadership, ecap has established a leading position in the MENA region. The firm specializes in CIO and CDO-level talent acquisition and organizational assessment for digital transformation, with a strong track record serving clients across government, financial services, transportation, hospitality, leisure, and retail sectors.

About Monstarlab Holdings

Monstarlab Holdings is a global digital consulting group operating under the mission of "Unlocking Innovation Through Diversity." At the time of this transaction in 2021, the group operated across 17 countries and 28 cities, serving major enterprises and public-sector clients through digital consulting and product businesses. Monstarlab differentiates itself through an integrated digital transformation framework spanning strategy, technology, data, experience, and talent, delivered at global-caliber standards.

Synergy

This transaction integrates a strategically essential capability, organizational assessment and executive talent access, into Monstarlab's MENA digital transformation business.

Successful digital transformation requires more than the foundational layers of strategy, technology, design, and data. It equally demands the recruitment, development, and retention of digital talent, together with meaningful organizational change. The acquisition of ecap delivered three strategic benefits to Monstarlab in the MENA region: enhanced end-to-end DX service value through integrated high-caliber digital talent acquisition, direct access to the regional executive talent and leadership pool, and access to advanced organizational assessment frameworks and know-how that can be deployed with clients.

ecap also played a role in supporting Monstarlab's original 2019 entry into the UAE market, and the two organizations had built a trust-based working relationship well before this transaction. This acquisition formalizes that relationship into a capital partnership, establishing a durable foundation for Monstarlab's long-term business in the Middle East. Importantly, the capabilities gained through ecap are also intended to be extended into the APAC region over time, aligning this transaction with broader group-level growth strategy.

Continuity

ecap continues to operate under the leadership of its Co-Founders and Directors, Christopher Abreu and Daniel Murphy, with its brand, organization, and client networks maintained. The combination brings together the MENA executive talent network built by the co-founders over many years with Monstarlab's global-caliber technology delivery platform, establishing an integrated end-to-end DX service capability in the region.

"We are proud to have confirmed this acquisition of ecap, an organization that helped us to establish in the UAE back in 2019. The acquisition will help us achieve our joint ambition of driving digital transformation for the organizations we work with. By combining the right talent and world-leading technology, we are able to provide customers with the platform they need for success through digitalisation."

- Hiroki Inagawa, Group CEO, Monstarlab Holdings, Inc.

This entry is based on publicly available information (Monstarlab Holdings press release dated September 13, 2021). Non-public transaction terms are not disclosed. This transaction is included as an example of our team's prior principal experience. WellBear Co-Founder Yuta Sakurai led the deal in his role as internal M&A lead at Monstarlab Holdings prior to founding WellBear; it is not a WellBear advisory engagement.