Consultant

Eltizam Asset Management Group sets aside $55mn for M&A raids

Asset management firm is in talks with three companies to ‘secure further opportunities within the industry’

Eltizam Asset Management Group says it has set aside $55 million A(ED 200 million) to fund mergers and acquisition (M&A) activity in the GCC in 2019 and 2020.

The leading physical asset management company said it is looking to acquire companies from multiple sectors including facilities management (FM), owners association management and property management; “in order to further enhance their position within the regional market”.

Eltizam added it currently has strategic JV’s and M&A agreements in place to facilitate expansion in Oman, Kuwait and Kingdom of Saudi Arabia and is in discussions with a number of companies, “with the aim of finalising deals by the end of the year”.

M&A is viewed as a natural strategic next step within the the Abu Dhabi firm, in order to further “expand its service platform which is underpinned by strong service excellence, operational standards and technology pillars, while leveraging robust shared services that joining entities will be able to benefit from”.

“As a leading provider of strategic management services, we want all services that our clients may seek to be available with Eltizam – essentially allowing us to not only control the asset but also protect the asset to ensure its managed and maintained in line with best practice, this, in turn, allows us to enhance the asset and reduce the overall cost base providing much better returns to investors in any asset class,” said Chris Roberts, CEO, Eltizam Asset Management Group. “We believe this significant value of AED 200 million for M&A will contribute significantly to benefit both our clients and customers.”

Roberts added: “This strategic move will also bring us closer to our mission of achieving exceptional customer happiness in an engaging, safe and secure environment; sustainably delivered through innovative tech solutions by our trusted and talented professionals and partners. Ultimately, we are constantly working to ensure we maintain a strong customer service ethic and continue to fulfill our commitment to achieve customer happiness and to bring life to the communities and assets which we serve.”

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