Palms Sports, a subsidiary of International Holding Company (IHC), has completed the acquisition of Securiguard Middle East, a specialized firm offering security services across diverse sectors.
The acquisition, which amounts to a substantial $81 million (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.
Palms Sports is a prominent regional sports management company and the largest mass Jiu-Jitsu training provider in the world.
Mr. Fouad Darwish, CEO & Managing Director at Palms Sports, said that, “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. This acquisition aligns perfectly with Palms Sports’ aspirations and plans to establish a strong foothold in the security services space,” Mr. Darwish added.
Founded in 2001, Securiguard Middle East has established itself as a trusted provider of specialized security solutions with a strong presence in the region. The company offers a wide range of services across various sectors, including commercial, government, and residential segments.
“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 Qaiwain. The company remains committed to exploring new initiatives and expanding its services and customer base,” as per the statement.