Marketing

Irish-led Wimbledon and British Open supplier set for €84m takeover


Arena Group, the Irish-led supplier of temporary facilities for major sporting events such as the Wimbledon tennis championships and golf’s British Open, has agreed to be taken over by a United Arab Emirates-led consortium for £71 million (€84 million).

London-listed company’s Irish chief executive Greg Lawless plans to step down once the deal is completed, after spending 15 years building up the business, Arena said on Wednesday. He will continue to advise the new future owners, which will also include Arena’s existing main shareholder, Saudi Arabia-based Tasheel Holding Group.

The leading party of the consortium is UAE-based IHC Industrial Holding.

Arena’s sales fell 55 per cent to £71.6 million for the year to March from the previous 12 months, as events were cancelled across the globe during the pandemic.

Still, the sales and earnings decline was limited as Arena switched quickly into new lines of business during the crisis, delivering temporary Covid-19 hospital sites as well as testing and vaccination centres – and temporary mortuaries. Adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) decreased by 65 per cent to £5.7 million.

Business has rebounded this year as sporting and other events resumed.



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