Palms Sports sets pace for H2 with AED 300 mln new business acquisition

Palms Sports sets pace for H2 with AED 300 mln new business acquisition

ABU DHABI, 5th July, 2023 (WAM) -- Palms Sports, the prominent regional sports management company and the largest mass Jiu-Jitsu training provider in the world, a subsidiary of International Holding Company (IHC), has revealed today its complete acquisition of Securiguard Middle East, a specialised firm offering security services across diverse sectors.

The acquisition, which amounts to a substantial AED 300 million, highlights Palms Sports' strategic expansion into the realm of comprehensive security solutions, further diversifying its business portfolio and signaling its commitment to sustained growth and market dominance.

"The manned guard security industry in the UAE has consistently experienced a strong year-on-year growth rate, fueled by the continuous expansion of infrastructure and real estate projects across commercial, government, and residential sectors, with particular emphasis on the capital. This strategic decision exemplifies our resolute dedication to expanding our business horizons and diversifying our portfolio,'' said Fouad Darwish, CEO & Managing Director at Palms Sports.

Founded in 2001, Securiguard Middle East today surpassed 13,000 staffs and state of the art fleet of 150 vehicles with pan Emirates operational network. The company prominent security services company operating in the United Arab Emirates (UAE). With a strong presence in the region, Securiguard Middle East has established itself as a trusted provider of specialised security solutions. The company offers a wide range of services across various sectors, including commercial, government, and residential segments.

"This acquisition It aligns perfectly with Palms Sports aspirations and plans to establish a strong foothold in the security services space,” Darwish added.

With several leading projects under its belt, Securiguard Middle East has demonstrated its capability to deliver high-level security services in key emirates such as Abu Dhabi, Dubai, Fujairah, Ajman, and Umm Al Qaiwain. The company remains committed to exploring new initiatives and expanding its services and customer base.