Abu Dhabi: Palms Sports (ADX: PALMS), the prominent regional sports management company and the largest mass Jiu-Jitsu training provider in the world, a subsidiary of International Holding Company PJSC (IHC), has revealed today its complete acquisition of Securiguard Middle East, a specialized 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 specialized 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 Quwain. The company remains committed to exploring new initiatives and expanding its services and customer base

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About Palms Sports

Palms Sports PJSC is a UAE-based company established in 2011 and promotes niche sporting activities with a specific focus on Jiu-Jitsu and Martial Arts to UAE Nationals. Palms Sports is one of 8 listed companies under International Holding Company PJSC (IHC), emphasizing the importance of sports in our daily lives and determined to assist the community to integrate ‘sports’ and ‘leisure’ into the very fabric of day-to-day lifestyles.

About International Holding Company

IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE and has grown to become the most valuable listed holding company in the Middle East with a market cap of AED 868 billion as of March 31, 2023. The company endeavors to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region's largest conglomerates. IHC is included in FTSE ADX 15 Index (FADX 15), representing the top 15 largest and most liquid companies on the ADX.

IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 444 subsidiaries and over 126,000 employees, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Asset management, Healthcare, Real Estate and Construction, Marine and Dredging, IT and Communications, Financial Services, Food Production and Service, Utilities, and Services.     

With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes and new opportunities arise, IHC remains focused on resilience, innovation, and redefining the marketplace for itself, its clients, and its partners.

www.ihcuae.com           

Media Contacts
Ahmad Ibrahim
Group Head Marketing and Corporate Communications
Ahmad.ibrahim@ihcuae.com

Mary Khamasmieh
Head of Government Communications, Weber Shandwick
mkhamasmieh@webershandwick.com