Elevate Enters MENA Market with RISE Group Acquisition
New York-based consulting firm Elevate has acquired RISE Group, a marketing and commercial services consultancy headquartered in Riyadh and Dubai. The acquisition, for an undisclosed amount, is pending customary regulatory approvals. This move marks Elevate's strategic entry into the Middle East and North Africa region, aiming to capitalise on the burgeoning sports and entertainment sectors.
As part of the agreement, RISE co-founders Seth Holmes and Tom Berrington will assume key leadership roles within Elevate. RISE will maintain its offices in Riyadh and Dubai, ensuring continuity in its regional operations.
Founded in 2014, RISE Group has established a strong presence in the MENA region, specialising in commercialising government assets and developing sustainable commercial partnerships. The firm's expertise spans various sectors, including sports, culture, and entertainment, with a focus on maximising business and brand returns on investments.
ADVERTISEMENT
Elevate's acquisition of RISE Group aligns with its broader strategy to expand its global footprint and diversify its service offerings. The firm has been actively pursuing growth opportunities, as evidenced by its recent acquisitions of SRI, a global search and talent optimisation agency, and Fenway Sports Management's Consulting Group. These strategic moves have bolstered Elevate's capabilities in talent advisory and brand consulting, respectively.
The MENA region has been experiencing significant growth in the sports and entertainment sectors, driven by substantial investments and initiatives aimed at diversifying economies and enhancing cultural engagement. Elevate's entry into this market through the acquisition of RISE Group positions the firm to leverage these opportunities and contribute to the region's evolving landscape.
RISE Group's portfolio includes collaborations with prominent entities such as the Saudi Professional League, the Royal Commission for AlUla, and the Ministry of Culture. The firm's track record in delivering high-profile projects and forging strategic partnerships underscores its value proposition in the MENA market.
The integration of RISE Group into Elevate's operations is expected to enhance the firm's ability to offer comprehensive solutions across marketing, commercial services, and strategic consulting. By combining Elevate's global expertise with RISE's regional insights, the firm aims to deliver tailored services that meet the unique needs of clients in the MENA region.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
8 hours ago
- Arabian Business
Dubai's FIVE Holdings mulls IPO and listing in London or New York: Report
FIVE Holdings, the Dubai-based company that owns the FIVE brand of hotels, is said to be considering listing in London or New York, according to a Reuters report. Founder and Chairman Kabir Mulchandani, who has targeted a 2025 IPO for the past couple of years, had previously spoken of a primary listing in Dubai and a secondary listing in one of the international markets. The Reuters report cites three people with knowledge of the matter. Five Holdings IPO FIVE Holdings did not respond to Reuters' request for comments, but the agency said that London could be a strong candidate, given a majority of clients at FIVE's Ibiza clubs are British nationals and that business generates significant revenues for the group. In November 2023, FIVE Holdings acquired a 100 per cent equity interest in the Pacha Group, in a deal valued at €302.5m ($345m). That same year, Muchandani spoke about the IPO for the first time and said: 'The plan right now is 2025. For us, we are very well capitalised now, the goal is to continue to improve our transparency and our governance, to do the investor calls on a quarterly basis and to act like a public company, before we become a become a public company, and not to raise money and then figure out what to do. 'There are always a lot of advisors saying, look at Dubai, but also look at another international market. I think that may not be the correct advice to take it forward. 'The way the Dubai capital markets is developing over the last few years, it is entirely possible. At the end of the day, even though we are global, we are a made-in-Dubai company. So, for us, being part of Dubai capital markets is a critical part of our story.' Mulchandani also said that the IPO was very important for FIVE Holdings because of the employee stock options programme that it was rolling out. 'One of the major reasons why we would like to do this is because we are launching a very, very important employee stock option program,' said Mulchandani. 'A significant portion of the company is going to be dedicated to the employees over time. And this is not just the C-suite, not the CEOs and the senior people. This is down to the person who is going to bring your bags up to your rooms. 'It's a very widely distributed stock. The goal is to make sure that they have the liquidity and see what the value of the work and the effort they're putting in.' The company and its advisers are planning to start the listing process by the end of the year, two of the people in know told Reuters. The three people spoke on condition of anonymity because they were not authorised to speak publicly.
Arabian Post
12 hours ago
- Arabian Post
UAE Pushes for Trade Deal to Counteract U.S. Metal Tariffs
Arabian Post Staff -Dubai The United Arab Emirates and the United States are preparing to initiate negotiations for a potential bilateral trade agreement aimed at reducing or eliminating tariffs imposed during President Donald Trump's administration on UAE steel and aluminium exports. These tariffs include a baseline 10% duty and a specific 25% tariff on steel and aluminium—which the Trump administration plans to double to 50%. The UAE, whose steel and aluminium are significant non-oil exports and accounted for 8% of U.S. steel and aluminium consumption in 2024, is looking to leverage its history of swiftly concluded trade deals with nations such as India, Turkey, and Australia. While the U.S. may pursue a limited agreement rather than a full free trade pact, it is expected to be labeled a Comprehensive Economic Partnership Agreement , consistent with the UAE's past trade deals. ADVERTISEMENT The UAE, Washington's largest trade partner in the Middle East with $34.4 billion in bilateral trade in 2024, is also a major U.S. investor and security ally, hosting American troops and planning $1.4 trillion in future U.S. investments. Both sides reportedly responded positively to the idea during Trump's recent visit to Abu Dhabi, though a timeline for formal talks remains unclear. The Trump administration's decision to double tariffs on imported steel and aluminium to 50% took effect on June 4, 2025, impacting nearly all trading partners except the United Kingdom, which has a preliminary trade agreement with the U.S. The policy significantly affects major U.S. trading partners like Canada and Mexico, with Canada being the leading exporter of aluminium to the U.S. and both countries ranking high in steel exports. UAE-based steel producers expect to escape major impact from the latest move by the U.S. to double tariffs on steel imports. The new tariffs apply to all trading partners except the UK, which struck a preliminary trade agreement with the U.S. last month. However, steel manufacturers in the UAE don't anticipate a hard hit. The U.S. decision to double steel import tariffs 'may have an indirect effect on market dynamics but is not expected to materially impact Emsteel's business,' said Michael Rion, chief commercial officer at Emirates Steel, part of Abu Dhabi-listed Emsteel Group. The company has a 'modest exposure' to the U.S. market, with exports accounting for less than 2% of total annual sales. The UAE's push for a trade agreement with the U.S. is part of its broader strategy to mitigate the impact of increased tariffs and strengthen economic ties. The potential agreement, discussed during President Trump's visit to Abu Dhabi, seeks to address the challenges posed by the new tariffs and reinforce the economic partnership between the two nations.
Arabian Post
16 hours ago
- Arabian Post
Renewed Race For Gulf-India Aviation Sector Trophy As Stakes Increase Further
By K Raveendran Strong signs of undercurrents are emerging in the aviation space between India and the Gulf. There is renewed tussle over landing rights — the coveted permissions that determine which airlines get to fly where, how often, and with how many seats. For years, this battleground has been tilted in favour of Gulf-based giants, particularly Emirates and later Etihad, both of which have entrenched themselves so deeply in the India-Gulf sector that they dominate passenger volumes, especially among the vast Indian expatriate population in the Gulf. But recent movements suggest that the terrain may be shifting again, albeit not necessarily in India's favour, raising concerns about whether past missteps are being repeated or even institutionalized. The first wave of this dominance came during the United Progressive Alliance (UPA) years, a period that aviation experts and political observers often recall with unease. During this time, India's aviation rights — especially in the high-demand Gulf sector — were offered up with a generosity that baffled many. The most glaring beneficiary was Emirates, which capitalised on India's fragmented aviation policy and the aggressive diplomacy of Dubai government. The role of Praful Patel, then Union Civil Aviation Minister, and N. Chandrababu Naidu, then Chief Minister of Andhra Pradesh, has often come under scrutiny for facilitating deals that disproportionately benefited Gulf carriers. The underlying implication, often whispered but never proven in courts, was that kickbacks were exchanged for each seat Emirates filled on its India routes — a suggestion that continues to fester in the collective memory of Indian aviation policy circles. At that time, Emirates enjoyed a distinct monopoly, owing largely to the fact that it was the sole UAE-based carrier of international standing. With Dubai's rise as a global aviation hub and Emirates' unmatched marketing muscle, the airline quickly scaled up its footprint in India, locking in prime time slots and lucrative routes with little resistance. In effect, Emirates became the default choice for millions of Indians flying to the Gulf and beyond, eclipsing the capacity and visibility of Indian carriers like Air India. This asymmetry didn't just result in a business setback for Indian aviation — it triggered a slow bleeding of India's aviation sovereignty. The profits, the passenger data, the traffic, and the global prestige of being a gateway carrier all accrued to Emirates, while Indian airlines floundered under the weight of policy paralysis and state apathy. Things became even more complicated when Etihad entered the fray. As Abu Dhabi's flagship carrier, Etihad's arrival introduced a new axis of influence in the India-Gulf aviation theatre. Where earlier it was just Emirates leveraging its ties with Indian authorities to expand its rights, now both Emirates and Etihad were competing not just with each other but also for the same slice of the Indian aviation pie. The diplomatic equation thus had to be recalibrated. No longer could Dubai's interests automatically translate into Emirates' gain. Abu Dhabi, backed by the UAE federal structure, began asserting its claim, demanding equitable treatment for Etihad. India, in turn, found itself in a quagmire. Granting more rights to one Gulf emirate risked offending the other. But instead of revisiting its entire bilateral framework or strengthening Indian carriers to hold their ground, Indian policymakers chose the path of least resistance: acquiescing to more requests from both sides. The result was that foreign carriers ended up with the lion's share of rights, while Indian carriers, with limited international ambitions and fleet capacity at the time, were left watching from the sidelines. Fast forward to today, and the script seems eerily familiar. Both Emirates and Etihad are once again lobbying for increased landing rights and additional seat allocations. This comes at a time when the dynamics of the aviation industry have evolved significantly. There is renewed focus on strategic aviation corridors, a post-pandemic surge in travel, and a stronger realisation globally that aviation is not just commerce — it is a soft power instrument. Yet despite all this, India appears to be on the verge of conceding even more ground. That this is happening without a thorough review of how previous concessions impacted national interests is particularly disheartening. A disturbing undertone to this situation is the re-emergence — or rather, the persistence — of the very individuals who were instrumental in the original giveaways. These actors, once thought to have exited the stage after presiding over what some call the 'Great Indian Aviation Surrender,' are now reappearing in various roles, emboldened by their earlier success and perhaps by the lack of accountability. The risk here is not just the erosion of market share but the institutionalization of a defeatist approach to aviation diplomacy, where India negotiates from a position of weakness rather than asserting its growing economic and geopolitical clout. However, the new player that adds an unexpected twist to this ongoing narrative is IndiGo. As India's largest airline by a considerable margin, IndiGo is no longer content with its domestic dominance. It wants in on the Gulf bonanza, and it is using its size, efficiency, and growing international aspirations to demand a bigger seat at the table. This changes the calculus considerably. For the first time in years, there's an Indian private player with both the appetite and the capacity to challenge Gulf airlines on their turf. IndiGo's entry into the fray has the potential to reshape the competitive landscape — provided, of course, the government aligns national policy with corporate ambition. To avoid repeating past mistakes, India must initiate a root-and-branch review of its bilateral air service agreements. The country needs a clear aviation doctrine — one that articulates when, how, and under what conditions foreign airlines may operate in India. This doctrine must prioritize Indian interests, encourage domestic capacity building, and align with broader national objectives. It must also be shielded from short-term political compulsions and the influence of lobbying networks that have historically undermined strategic policymaking. (IPA Service)
