ABU DHABI, UAE: Abu Dhabi-based International Holding Company (IHC) has entered into a strategic partnership with ADQ, one of the region’s largest holding companies, for a 50% stake in IHC subsidiary, Eltizam Asset Management Group, for a total cash contribution of AED 111.6 million (through a new shares issuance).
Founded in 2009, Eltizam is among the leading physical asset management companies in the UAE and broader GCC. Eltizam provides its clients throughout the region with an integrated suite of strategic management and real estate services, and recently acquired Inspire Integrated which specializes in infrastructure and real estate solutions, facilities management, and project delivery services.
Ahmad Ibrahim, Head of Corporate Communication of International Holding Company said: “This transaction marks a significant step in IHC’s strategy, sharpening our focus on our core vertical businesses. We are pleased to have agreed on a model that reflects Eltizam’s success and growth as part of the IHC portfolio, alongside a reliable partner, to deliver significant value for shareholders.”
Roque Solabarrieta, Investment Director, at ADQ commented: “Eltizam has a proven record as a successful business model and has an accretive value to ADQ’s portfolio. We have a shared vision with IHC to further enable the company to reach its full potential in its ambition as a leader in facility and property management across the region.”
Established in Abu Dhabi in 2018, ADQ is one of the region’s largest holding companies with direct and indirect investments in more than 90 companies locally and internationally. Both an asset owner and investor, ADQ’s broad portfolio of major enterprises span key sectors of a diversified economy, including energy and utilities, food and agriculture, healthcare and pharma, and mobility and logistics, amongst others.
As a strategic partner of Abu Dhabi’s government, ADQ is committed to accelerating the transformation of the emirate into a globally competitive and knowledge-based economy. www.adq.ae
Established in Abu Dhabi in 2009, Eltizam Asset Management underwent a restructuring into the current group of companies in 2014, to better serve our clients with a more integrated suite of real estate services, and expand throughout the region including Saudi Arabia, Oman, and Bahrain. Eltizam Group is a technology[1]driven investment company focused on the built asset environment, with significant investments in facilities management, real estate management, energy management Prop-Tech, intelligent building technology, and disruptive technology.