Europe has switched to a wartime mindset and is surging defense spending to levels not seen since the Cold War: 20% growth in 2024 and in 2025, and a total of around $450 billion across the EU. Europe is also ramping up defense production locally, and seeking to accelerate this process through preferential funding schemes. Ukraine has become a military powerhouse and a global leader in defense tech, such as drones and counter-drone systems. And the tech Ukraine has other countries need, particularly in the Middle East. The upcoming NATO summit in Ankara in July and the prospective EU-GCC summit later this year in Saudi Arabia will continue to shape investment priorities across EMEA. For private equity firms, technology companies, prime defense contractors, and scale-ups operating in the defense sector, this shift creates opportunities to meet rising demand, while also introducing additional regulatory complexity that must be navigated carefully to secure market access and long-term strategic positioning.
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Rupert Harper
Rupert Harper leads Covington's Middle East Corporate and M&A practice. He has over 20 years' experience advising clients on complex M&A, joint venture, strategic investment and special situations transactions. He has particular experience assisting clients navigate challenging legal, regulatory and policy issues - often in complex and sensitive risk and regulatory contexts.
Rupert has extensive transactional experience in highly regulated and advanced industries such as energy & infrastructure, telecoms, technology, healthcare and national security & defense. He has particular experience advising sovereign wealth funds and government related entities in the Middle East, as well as financial sponsors - including major private equity and infrastructure investors. Rupert acts for a number of leading global corporations on their most significant M&A and joint venture transactions in the region, including complex industrialization partnerships, and on re-organisation and corporate governance issues.
Rupert has been based in the UAE since 2008. He has been recognized for nearly a decade in the leading legal directories as one of the leading M&A lawyers in the Middle East and is noted for his commercial approach and strategic thinking. Rupert is described in Chambers as "extremely hard-working and detail-oriented. He leads by example and is calm under pressure so is an asset for any client."