Modon Holding P.S.C has announced an agreement with IHC and TasHeel Holding to acquire Theta Bidco Limited, the sole owner of Arena Events Group Limited (“Arena”), a global leader in temporary infrastructure and event solutions.
This acquisition strengthens Modon’s position in the global events industry, expanding its capabilities and presence in over 10 countries, including the US, UK, and Saudi Arabia.
Arena has supported numerous high-profile sporting events, including the 2024 Paris Olympic Games, Formula 1 races in Abu Dhabi, Jeddah, Las Vegas, Miami, and Austin, Wimbledon, the Cinch Championships in London, and the T20 World Cup in New York, where it built a modular cricket stadium.
Jassem Mohammed Bu Ataba Al Zaabi, Chairman of Modon Holding, stated, “Adding Arena to our portfolio is a major step in expanding our international footprint and diversifying our services in the global events sector. Arena’s expertise in major events across North America, Europe, and Asia will help us enhance growth and deliver long-term value for our shareholders.”
Syed Basar Shueb, CEO of IHC, commented, “This acquisition aligns with our strategy of building an integrated portfolio. Arena has thrived under IHC’s ownership, and this move allows Modon to capitalise on its expanding network in temporary infrastructure, event venues, and structures to create value globally.”
The acquisition represents Modon’s first major move into North America, Arena’s largest market, and positions both companies to benefit from the expected growth in live event attendance.