Dubai: EXHICON Impex on Friday announced the acquisition of a fifty-one per cent stake in Dubai based Al Yanabia Technical Services LLC.
Terms of the agreement and capital infused for the acquisition were not disclosed.
Founded in 2004 in Dubai, Al Yanabia provides HVAC, Air Filtration Systems, Engraving & Omantation, Floor & Wall Tiling, False Ceiling and Light Partition Installation, Plumbing and Sanitary Contracting, Fit-Outs and Interior services for domestic, industrial and commercial markets in GCC countries.
“Al Nabawiya is in the midst of accelerated growth of its capabilities to provide solutions across a range of essential infrastructure and manpower for end-to-end services to its customers,” said Shaikh Jehangir, founder of Yanabia.
MQ Syed, Managing Director at EXHICON Group, commented: “We are excited to partner with Al Yanabia which has proved its operational excellence and positioned the Company as a market leader in contracting business in UAE..”
Padma Mishra, Group Director at EXHICON, added: “The diverse and highly re-occurring nature of Al Yanabia customer base illustrates the differentiated service quality that the Company is able to provide to its clients. With a proven management team and a superior customer value proposition, Al Yanabia has an exciting opportunity to continue its strong growth trajectory in the growing GCC market with EXHICON.”
The acquisition is the second in the last six months and the first in UAE by EXHICON Group. The group entered UAE with the Interiors, General Trading, Healthcare and Exhibition businesses in the year 2019.