Bahrain-headquartered investment firm Arcapita announced it has acquired a controlling interest in U.S.-based signage and lighting services firm MC Sign Company. The deal is worth in excess of $100 million, according to a press release.

Founded in 1953, MC Sign is based in Cleveland, Ohio and provides signage and lighting services to more than 275 customers in North America, with clients in sectors including retail, banking, hospitality, quick service restaurants and petroleum. MC Sign processes over 40,000 work orders per year through about 5,000 field service partners, and has 225 employees.

“MC Sign is led by a very experienced team of professionals who have grown the business considerably over the past few years, and we believe the company is well positioned to acquire market share in a highly fragmented industry that is dominated by locally-focused, sub-scale service providers,” said Atif Abdulmalik, Arcapita’s CEO, in a press release.

Abdulmalik added that more than “75% of MC Sign’s customers are blue chip companies with national presence” and that the company has averaged a customer retention rate of 99% since 2012.

Arcapita’s investment in MC Sign reflects the firm’s global presence, with the Sharia compliant alternative investment manager maintaining offices in Bahrain, Atlanta, London and Singapore. Correspondingly, its portfolio is spread out across Asia, Europe, the Middle East and North America.

The investment firm has been active in the Middle East too. In October 2017, the firm partnered with Bahrain’s sovereign wealth fund Mumtalakat to acquire an approximately 90% stake in Abu Dhabi’s NAS United Healthcare Services, a GCC provider of outsourced health insurance processing services. This was preceded by another deal through which Arcapita acquired logistics assets worth $150 million in Dubai.