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ServeU, a subsidiary of the Dubai-listed Union Properties, has acquired House Keeping and House Keeping Domestic Workers, including their subsidiary, in a deal valued at 100 million dirhams ($27.23 million).
The UAE-based facilities management firm said the acquisition of the domestic workforce company will help ServeU in expanding its market reach.
Under the terms of the acquisition, House Keeping and its affiliated entities will retain their brand identities while operating under the full ownership of ServeU.
ServeU said the deal is projected to have a positive impact on its financials, contributing around 23% to revenue and boosting EBITDA by 33%.
(Writing by Bindu Rai, editing by Brinda Darasha)
