Modon Expands Global Reach with Acquisition of Arena Events Group
Deal News | Feb 05, 2025 | PR Newswire Cision Modon Holding
In a strategic move, Abu Dhabi-based Modon Holding P.S.C has announced the acquisition of Theta Bidco Limited, the owner of Arena Events Group Limited, from IHC and TasHeel Holding. Arena is a global leader in large-scale temporary infrastructure and event solutions, having supported major international events like the Paris 2024 Olympic Games and several Formula 1 races. This acquisition is expected to bolster Modon's presence in over 10 countries and expand its capabilities in the event sector. Currently, Arena supports events in the United States, UK, and Saudi Arabia, along with notable partnerships with the PGA and LIV Golf. The purchase enhances Modon’s international footprint and aligns with its growth strategy. Leaders from Modon, including Chairman Jassem Mohammed Bu Ataba Al Zaabi and CEO Bill O'Regan, emphasized the acquisition's role in broadening their event services portfolio. The transaction is anticipated to close in the first quarter of 2025, pending regulatory approval.
Sectors
- Events Management
- Private Equity and Investment
Geography
- United Arab Emirates – Headquarters of Modon Holding, the acquiring company.
- United States – Home to Arena Events Group's substantial workforce and market presence.
- United Kingdom – A significant market for Arena Events Group.
Industry
- Events Management – This sector is relevant due to Arena Events Group’s role as a provider of temporary infrastructure and solutions for major international events.
- Private Equity and Investment – IHC and TasHeel Holding's involvement as sellers relates this transaction to the private equity sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Modon Holding P.S.C | Acquiring Company | Company | An Abu Dhabi-based holding company involved in the acquisition of Arena Events Group. |
| IHC | Selling Company | Company | A holder of Arena Events Group shares, involved in the sale to Modon. |
| TasHeel Holding | Selling Company | Company | Also a holder of Arena Events Group shares, participating in the transaction alongside IHC. |
| Arena Events Group Limited | Target Company | Company | A global leader providing temporary infrastructure and services for large-scale events. |
| Theta Bidco Limited | Holding Company | Company | A company owning 100% of Arena Events Group, sold to Modon. |
| Jassem Mohammed Bu Ataba Al Zaabi | Chairman, Modon Holding | Person | Commented on the strategic importance of the acquisition. |
| Bill O'Regan | CEO, Modon Holding | Person | Discussed the acquisition's alignment with Modon's growth strategy. |
| Syed Basar Shueb | CEO, IHC | Person | Commented on the divestment of Arena Events Group. |