Modon Holding P.S.C announced yesterday, Monday, February 3, that it has reached a definitive agreement with IHC and TasHeel Holding to acquire Theta Bidco Limited, the owner of Arena Events Group Limited, a global leader in large-scale temporary infrastructure and integrated events solutions.
Publish dateTuesday 4 February 2025 - 21:25
According to Amac News: The acquisition strengthens Modon’s profile in the global events industry and significantly expands its existing capabilities in the sector and its presence in more than 10 countries where Arena operates, notably the United States, the United Kingdom and Saudi Arabia.
Arena has been an integral part of a number of flagship and diverse sporting events, including the infrastructure services and support provided for the 2024 Paris Olympic Games, Formula 1 races in Abu Dhabi, Jeddah, Vegas, Miami and Austin, Wimbledon and the annual Cinch Championships at Queen’s Club in London, as well as the construction of a temporary cricket stadium for the T20 World Cup in New York.
Jassim Mohammed Bouatabeh Al Zeibi, Chairman of Madon Holdings, said: “The addition of Arena to Madon’s portfolio is a key achievement in our journey to expand our international footprint, diversify and expand our range of services in the global events industry. Arena’s experience as a leading service provider for major events in North America, Europe and Asia will be invaluable.”
Syed Basser Shoaib, CEO of IHC, said: “Madon’s acquisition of Arena Group reflects our commitment to creating a unified and cohesive portfolio. Arena Group has flourished under IHC’s ownership over the past three years and this move will allow Maddon to fully exploit its synergies.”
The acquisition is a significant step in the execution of Maddon’s long-term growth strategy in the events sector and marks its first significant entry into North America, Arena’s largest revenue generating region and home to almost half of its global workforce of over 1,000 people.
With global live event attendance expected to increase in the near future and an increasing focus by event organizers to invest in high-quality spectacle experiences and hospitality services, Arena and Maddon are well positioned to strengthen their leading presence in the events sector globally.
The transaction, which is expected to close by the first quarter of 2025, is subject to regulatory approvals and other customary closing procedures.
Arena has been an integral part of a number of flagship and diverse sporting events, including the infrastructure services and support provided for the 2024 Paris Olympic Games, Formula 1 races in Abu Dhabi, Jeddah, Vegas, Miami and Austin, Wimbledon and the annual Cinch Championships at Queen’s Club in London, as well as the construction of a temporary cricket stadium for the T20 World Cup in New York.
Jassim Mohammed Bouatabeh Al Zeibi, Chairman of Madon Holdings, said: “The addition of Arena to Madon’s portfolio is a key achievement in our journey to expand our international footprint, diversify and expand our range of services in the global events industry. Arena’s experience as a leading service provider for major events in North America, Europe and Asia will be invaluable.”
Syed Basser Shoaib, CEO of IHC, said: “Madon’s acquisition of Arena Group reflects our commitment to creating a unified and cohesive portfolio. Arena Group has flourished under IHC’s ownership over the past three years and this move will allow Maddon to fully exploit its synergies.”
The acquisition is a significant step in the execution of Maddon’s long-term growth strategy in the events sector and marks its first significant entry into North America, Arena’s largest revenue generating region and home to almost half of its global workforce of over 1,000 people.
With global live event attendance expected to increase in the near future and an increasing focus by event organizers to invest in high-quality spectacle experiences and hospitality services, Arena and Maddon are well positioned to strengthen their leading presence in the events sector globally.
The transaction, which is expected to close by the first quarter of 2025, is subject to regulatory approvals and other customary closing procedures.
amacnews.com/vdcd.50x2yt05ome6y.html
Source : news agency wam
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