Abu Dhabi-based Modon Holding has finalized a definitive agreement with IHC and TasHeel Holding to acquire Theta Bidco Limited, the sole owner of Arena Events Group.
Arena is a global leader in large-scale temporary infrastructure and integrated event solutions, recognized for its role in delivering high-profile sporting events. Notably, the company was behind the impressive hospitality tents at the Hero Dubai Desert Classic and is set to play a key role in the upcoming 2024 Paris Olympics.
While financial details of the transaction remain undisclosed, the acquisition is expected to close in the first quarter of 2025, pending regulatory approvals and customary closing conditions.
This acquisition marks a major step in Modon’s expansion strategy, enhancing its capabilities in the global events industry. Arena’s operations span over 10 countries, including the United States, the United Kingdom, and Saudi Arabia, significantly broadening Modon’s international footprint.
Jassem Mohammed Bu Ataba Al Zaabi, Chairman of Modon Holding, emphasized the strategic value of the deal:
"Bringing Arena into the Modon portfolio is a pivotal milestone in our efforts to expand globally, diversify our offerings, and strengthen our presence in the events industry. Arena’s expertise in delivering world-class event infrastructure across North America, Europe, and Asia will be instrumental in accelerating Modon’s international growth and creating long-term value for our stakeholders."
Syed Basar Shueb, CEO of IHC, highlighted the synergy between Modon and Arena, stating:
"The acquisition aligns with our strategy of developing a well-integrated portfolio and fostering dynamic value networks. Arena has thrived under IHC’s ownership over the past three years, and this transition allows Modon to leverage its expertise in temporary infrastructure and event solutions, ensuring significant impact across local and international markets."
Arena’s extensive experience in global sporting events positions Modon as a major player in the industry. The company provides infrastructure and services for major international events, including Formula 1 races in Abu Dhabi, Jeddah, Las Vegas, Miami, and Austin, as well as Wimbledon and a modular cricket stadium built for the T20 World Cup in New York. Arena has also been a long-standing partner of prestigious golf tournaments, including the PGA Tour, LIV Golf, the DP World Tour, and the Ryder Cup.
Bill O’Regan, Group CEO of Modon Holding, expressed enthusiasm about the acquisition:
"Welcoming Arena to the Modon family marks an exciting new chapter. Arena’s deep industry expertise, global partnerships, and innovative event solutions will add a new dimension to our expanding services. This acquisition is a key step in our growth strategy, enabling us to enter new markets and enhance our ability to deliver premium experiences for clients worldwide."
The acquisition also marks Modon’s first major entry into North America, which is the largest revenue-generating region for Arena. With live event attendance expected to rise in the coming years and event organizers increasing their focus on high-quality viewing experiences and hospitality services, both Arena and Modon are well positioned to expand their leadership in the global events industry. This strategic move is set to strengthen Modon’s market presence and reinforce its commitment to delivering world-class event infrastructure and services.
