Palms Sports, a prominent regional sports management company and the largest mass Jiu-Jitsu training provider in the world, has announced its complete acquisition of Securiguard Middle East, a specialized firm offering security services across diverse sectors, for AED300 million ($82 million).

 

A subsidiary of International Holding Company (IHC), Palms Sports said this acquisition 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. 

 

On the deal, CEO and Managing Director Fouad Darwish said: "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," stated Darwish. 

 

Founded in 2001, Securiguard Middle East today has 13,000-strong workforce along with a fleet of 150 vehicles with pan Emirates operational network. 

 

"This acquisition aligns perfectly with Palms Sports aspirations and plans to establish a strong foothold in the security services space," he added.-TradeArabia News Service