Tue, 04 Feb 2025 | BUSINESS SALE
Abu Dhabi group Modon Holding has bought the Cambridgeshire-based owner of Arena Events Group.
Modon said it entered into a definitive agreement with IHC and TasHeel Holding for the acquisition of Arena which provides large scale temporary infrastructure and integrated event services.
Events Arena has been involved with include services and infrastructure support provided to the 2024 Paris Olympics Games, Formula 1 races in Abu Dhabi, Jeddah, Vegas, Miami and Austin, Wimbledon and the annual Cinch Championships at Queen’s Club in London as well as setting up a modular cricket stadium for the T20 World Cup in New York.
Arena has also been a long-standing partner of the Professional Golfers’ Association of America and LIV Golf, providing full-service solutions for championship tournaments annually across various geographies.
Modon said the deal further strengthened its profile in the global events industry and significantly broadens its existing capabilities in this sector, and its presence in more than ten countries that Arena operates in, notably US, UK and Saudi Arabia.
H.E. Jassem Mohammed Bu Ataba Al Zaabi, chairman of Modon Holding, said: "The addition of Arena to the Modon portfolio is a key achievement in our journey to expand our international footprint, build diversification and develop the breadth of our services in the global events industry. Arena’s experience as a leading services provider for flagship events across North America, Europe and Asia will be invaluable as we continue to enhance Modon’s international platform to enable and accelerate growth and create long term value for our shareholders."
Syed Basar Shueb, chief executive of IHC, added: "Arena Group has flourished under IHC’s ownership over the last three years, and this move allows Modon to fully leverage its synergies with their expanding footprint in temporary infrastructure, venues and event structures that deliver exceptional value and impact across local and international markets."
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