Tabreed Partners with CVC DIF for $1 Billion Acquisition
Deal News | Jun 30, 2025 | Zawya
Global infrastructure investor CVC DIF and Tabreed, an Abu Dhabi-based district cooling company, have agreed to acquire PAL Cooling Holding from Multiply Group for approximately 3.8 billion dirhams ($1.03 billion). Founded in 2006, PAL Cooling Holding has established long-term concession agreements with several major master developers, including Aldar Properties, Modon, and Imkan. The acquisition encompasses three concessions on the Abu Dhabi main island and five on Al Reem Island, pending customary regulatory approvals. This move is facilitated by CVC DIF, the infrastructure arm of CVC Capital Partners, a prominent private equity firm.
Sectors
- Infrastructure
- Private Equity
Geography
- United Arab Emirates – The article revolves around an acquisition taking place within the UAE, particularly involving companies based in Abu Dhabi.
Industry
- Infrastructure – The article discusses a significant acquisition in the district cooling infrastructure sector, highlighting the involvement of a global infrastructure investor.
- Private Equity – CVC DIF, the infrastructure arm of CVC Capital Partners, is a major player in private equity, driving the acquisition alongside Tabreed.
Financials
- $1.03 billion – The acquisition price for PAL Cooling Holding by CVC DIF and Tabreed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CVC DIF | Investor/Acquirer | Company | CVC DIF is the infrastructure arm of CVC Capital Partners, involved in the acquisition of PAL Cooling Holding. |
| Tabreed | Investor/Acquirer | Company | Tabreed is an Abu Dhabi-based district cooling company, partnering with CVC DIF to acquire PAL Cooling Holding. |
| PAL Cooling Holding | Target | Company | PAL Cooling Holding is an Abu Dhabi-based company with long-term concession agreements with master developers, being acquired by CVC DIF and Tabreed. |
| Multiply Group | Vendor | Company | Multiply Group is the company selling PAL Cooling Holding to CVC DIF and Tabreed. |