Modon Holding, an Abu Dhabi-based holding company, has entered into a definitive agreement with IHC and TasHeel Holding to acquire Theta Bidco Limited, the 100 per cent owner of Arena Events Group.
Arena is a global leader in large-scale temporary infrastructure and integrated event solutions. They are the company behind a number of high-profile and diverse sporting events, including the impressive hospitality tents at last month’s Hero Dubai Desert Classic, and the 2024 Paris Olympics.
Financial details of the deal were not disclosed and the transaction is expected to be completed by the first quarter of 2025, subject to regulatory approvals and other customary closing conditions.
Boosting Modon’s global footprint
The acquisition strengthens Modon’s profile in the global events industry and significantly broadens its existing capabilities in the sector and its presence in over 10 countries where Arena operates. This includes the United States of America, the United Kingdom and Saudi Arabia.
Jassem Mohammed Bu Ataba Al Zaabi, Chairman of Modon Holding, commented: “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 Officer of IHC, said: “The acquisition of Arena Group by Modon reflects our commitment to creating a well-integrated and streamlined portfolio, expanding on our strategy of building dynamic value networks.
“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.”
Arena provides services and infrastructure support to Formula1 races in Abu Dhabi, Jeddah, Las Vegas, Miami and Austin; Wimbledon and set up a modular cricket stadium for the T20 World Cup in New York. They are also long-standing partners of the PGA Tour, LIV Golf as well as the DP World Tour and the Ryder Cup.
Bill O’Regan, Group Chief Executive Officer of Modon Holding, added: “We are very excited to welcome the Arena group to the Modon family. Arena brings deep-rooted industry experience, long-term global relationships and an array of innovative offerings to add a new dimension to our existing extensive event services. This acquisition aligns with our continuing strategy for growth in new markets and geographies and allows us to expand on our ability to provide premium-level services for clients.”
The acquisition will help Modon make its first significant entry into North America, which is the largest revenue-generating region for Arena. With the projected rise in global live event attendance over the foreseeable future, coupled with increasing focus from event organisers to invest in high-quality viewing experiences and hospitality offerings, Arena and Modon are well placed to enhance their market-leading presence in the events sector globally.
Follow us on
