Latest news with #acquisition
Zawya
12 minutes ago
- Business
- Zawya
EHC Investment L.L.C strengthens safety leadership with strategic acquisition of Tamouh Fire and Safety
Abu Dhabi, UAE: EHC Investment LLC (' EHC '), through its Safety vertical arm Emirates International Firefighting (' EIFF '), today announced the successful acquisition of 100% of Tamouh Fire and Safety (' Tamouh '), a premier provider of fire protection solutions in Abu Dhabi. This acquisition positions EHC to deepen its commitment to enhancing national safety infrastructure, expand its presence in a critical industry, and propel innovation in fire and life‑safety services across the region. Tamouh is renowned for its comprehensive fire protection portfolio, ranging from system design and installation to maintenance and emergency response services. Its unwavering compliance with global standards and adoption of cutting‑edge technologies have made it a trusted partner for residential, commercial, and government clients across Abu Dhabi. Ali Al Gebely, Managing Director of EHC, commented, 'Our acquisition of Tamouh demonstrates EHC's unwavering commitment to the UAE's development agenda. We aim to support the nation's rapid growth by elevating industry benchmarks, modernizing safety infrastructure, and delivering dependable fire protection services tailored to community needs.' This acquisition complements the services EHC already delivers to its portfolio of more than 100,000 clients across other essential sectors, particularly in gas distribution. It supports EHC's long‑term goal of offering a one‑stop solution that seamlessly integrates gas services and firefighting systems with the smart residential and industrial solutions developed through its subsidiaries in the technology sector. This level of integration ensures full alignment with the UAE's national vision for smart and sustainable infrastructure, while enhancing service delivery and contributing to the overall satisfaction and happiness of EHC's clients. Through this acquisition, EIFF seeks to reinforce the national fire safety ecosystem, driving competitiveness, improving response capabilities, and enhancing workforce skills. EIFF will invest in training programs for technicians, introduce digital solution, and fast‑track smart‑systems integration, ensuring Tamouh remains at the forefront of technological and governance advancement in the field. 'This move reinforces our vision to become one of the leading players in the fire and safety sector,' said Moustafa Rasad, Chief Executive Officer at EHC. 'Backed by a 35+ year legacy of operational excellence and industrial leadership, and under the strategic direction of our shareholders in 2PointZero; IHC subsidiary, we are confident in our ability to grow this platform and deliver integrated, future-ready solutions that raise safety standards across the region.' This deal aligns with EHC's broader strategy to invest in essential service providers that bolster resilience, encourage national economic diversification, and support visionary goals outlined in UAE long‑term plans. With Tamouh now part of the EHC family, the combined entities will work to expand service offerings across the region while leveraging regional capabilities to position the UAE as a benchmark for safety infrastructure excellence. About Tamouh Fire and Safety Tamouh brings over 15+ years of experience in fire protection, with a track record that includes maintaining 3,000 properties, installing 150,000 fire alarm devices, servicing over 1 million fire extinguishers, and responding to more than 20,000 emergency calls. The company has also supported the issuance of over 10,000 Istifa certificates, reinforcing its reputation as a trusted partner for residential, commercial, and government clients across the UAE. About EHC Investment L.L.C EHC, a subsidiary of 2PointZero (an IHC subsidiary), is a diversified investment firm based in Abu Dhabi with a portfolio spanning energy, safety, infrastructure and technology. Through over 12 subsidiaries, including leading names like Al Fanar Gas Group, Emirates International Gas, KAD Engineering and Construction, FOOJ Fire Fighting Services, International System Integration Company , NexGen Energy, and Sonic Tech Instrumentation and Calibration, EHC drives long-term value, supports sustainable growth, and advances the UAE's vision for innovation and global competitiveness.
Independent Singapore
17 minutes ago
- Business
- Independent Singapore
GIC backs 3G Capital in acquisition of footwear firm Skechers in S$12b deal
SINGAPORE: GIC is set to back the acquisition of Skechers, a leading global footwear company, in partnership with 3G Capital. The investment firms have filed a joint application to India's Competition Commission (CCI) for approval of the deal. According to the notice submitted on 26 June 2025, the transaction involves 3G Capital indirectly acquiring Skechers' outstanding shares. Skechers is the third-largest footwear company in the world. The transaction will see it go private for around US$9.4 billion (S$12 billion). The deal is expected to close in Q3 2025. Following this, Skechers' stock will be delisted from the New York Stock Exchange. Known for its wide range of lifestyle and performance products, Skechers operates in 180 countries and has annual sales of US$9 billion. Most recently, it reported record sales of $2.41 billion in Q1 2025. With 65% of its revenue coming from international markets, Skechers has shown a strong global presence. GIC's involvement brings strategic benefits to the deal. The sovereign wealth fund will provide capital and gain certain rights in the company. It could benefit from 3G Capital's track record of improving operations. GIC likely sees long-term growth potential in Skechers' focus on affordable, comfort-driven products. Most recently, it backed the acquisition of German property tech firm Techem. Its assets under management (AUM) as of July 2025 are estimated at $800 billion by the Sovereign Wealth Fund Institute, while research firm GlobalSWF suggests an AUM of $847 billion. GIC does not disclose its AUM as a matter of policy, to protect Singapore's reserves from speculative attack. In its 2023/2024 annual report, it reported nominal returns of 5.8% and a real return of 3.9%. 3G Capital, which backs major consumer brands like Burger King and Kraft Heinz, aims to strengthen Skechers' solid market position and worldwide distribution network. The investment will see the company's founder Robert Greenberg retained to lead it post-acquisition. The decision to go private comes during tough market conditions. These include high U.S. tariffs on Chinese imports and trade tensions between the U.S. and its trading partners. Given Skechers' manufacturing base and international supply chains, going private permits more flexible restructuring of supply chains and operations. For Skechers, the deal will provide an opportunity to improve operational efficiencies. Taking the company private offers more flexibility due to reduced shareholder pressure. Its focus on comfortable products, new technologies, and strong brand recognition puts it in a good position for ongoing growth. The CCI application shows that the parties believe the deal will not seriously harm competition in India. This is an important factor for international acquisitions.
Yahoo
5 hours ago
- Business
- Yahoo
Textilcolor Acquires Schoeller Technologies
Less than a year after announcing it would cease operation in its Sevelen, Switzerland-based headquarters by the end of 2025, Schoeller Textil has sold off its Schoeller Technologies division to Swiss textile chemical company Textilcolor. Schoeller Technologies was previously responsible for global licensing and marketing for its parent company's textile innovations. Textilcolor, which also is based in Sevelen, specializes in developing, manufacturing and distributing chemicals for textile finishing, placing emphasis on sustainability. The acquisition of Schoeller Technologies will allow Textilcolor to expand its technology portfolio while creating new development capability for future-oriented textile and chemical products. More from Sourcing Journal Citing 'Structural Disadvantages,' Schoeller Will Shutter Its Switzerland HQ Schoeller Unveils First Sustainability Report After 155 Years Shuffle Board: New President at Centric Brands, Schoeller Taps NA Sales Directors, Lenzing Names Coms Chief 'The acquisition is a consistent milestone in our long-term growth strategy,' said Detlef Fischer, CEO of Textilcolor AG. 'With Schoeller Technologies, we are not only gaining renowned technologies, but also a highly qualified team with unique expertise. We will continue to develop and refine the products manufactured to date in this partnership in order to continue to provide our customers with future-oriented and sustainable technologies.' Textilcolor will integrate the Schoeller Technologies team and tech into the Textilcolor brand going forward. 'Both companies share a common vision: the development of high-performance, sustainable and innovative textile solutions for a responsible future,' said Hans Kohn, former chief operating officer of Schoeller Technologies and new head of brand management. 'Existing partnerships and customer relationships of Schoeller Technologies AG will be continued in the usual high quality, the established partner network and strengthened by the expanded possibilities of Textilcolor.' In November 2024, 155-year-old Schoeller announced that the perfect storm of a poor post-pandemic market, higher labor costs and soaring energy rates had forced it to make the difficult decision to shut down. The specialized fiber maker owned by Swiss Albers Group and Formosa Taffeta said its competitive advantage had 'steadily deteriorated' in recent years, forcing them to cease production at its Sevelen headquarters. That facility housed weaving, dyeing, lamination and coating operations, as well as a research, development and testing laboratory. Schoeller produced more than 6 million meters of Bluesign-approved performance textiles at its Sevelen facility, as well as its Baligen, Germany, location. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
6 hours ago
- Business
- Daily Mail
Industry shock as free-to-air network is sold for just $1
In a major shake-up of New Zealand 's media landscape, Sky TV will buy Warner Brothers Discovery (WBD)'s free-to-air network for just one dollar. The announcement was made to the New Zealand stock exchange on Tuesday. Sky TV, which operates a pay-to-view service similar to Foxtel in New Zealand, will acquire all of WBD's television channels, including Three (formerly TV3), Bravo, Eden, Rush, HGTV, and BVOD catch-up service ThreeNow. Sky announced it had 'agreed to acquire 100% of the shares in Discovery NZ Limited from Discovery Networks Asia-Pacific Pte Ltd (a subsidiary of Warner Bros Discovery, Inc)' for $1 on a cash-free, debt-free basis. The shocking news comes five years after Discovery purchased Three from MediaWorks in 2020 for a rumoured US$20million. From A-list scandals and red carpet mishaps to exclusive pictures and viral moments, subscribe to the DailyMail's new showbiz newsletter to stay in the loop. Discovery said the completion of the sale is expected to take place on August 1. This deal will profoundly reshape the commercial TV and streaming landscape in New Zealand, as it forges the biggest media company in the country by revenue and audience — all for the price of a singular gold coin. In April last year, WBD confirmed the closure of its New Zealand newsroom Newshub, ending the 6pm and AM TV news bulletins on channel Three. Sky will assume all of WBD's ongoing commercial contracts, including a partnership deal with Stuff ( that was struck with WBD days after Newshub closed last year. The digital publisher has been providing ThreeNews since June 6, 2024. Effectively, the 6pm news moved online – with Stuff hiring several beloved Newshub presenters who had been made redundant. Sinead Boucher, who purchased the Stuff company from Australia's Nine Entertainment for $1 in 2020, said she is 'delighted' to see Sky bring TV3 back into New Zealand ownership 'for the first time in decades'. 'My word this industry moves at pace!' ThreeNews presenter Samantha Hayes posted to Instagram on Tuesday. 'I was only just getting around to marking our one year anniversary of ThreeNews this month and now another seismic shift in the media landscape with Sky buying Three, ThreeNow and Discovery NZ's many other assets. 'We'll keep making our 6pm news bulletin like we always do and I'm excited about what the future holds... watch this space!' Sky's chief executive Sophie Moloney told Stuff the deal made sense, both strategically and financially for the pay TV giant. 'We've made no secret of the fact we want to grow our advertising revenue and the one platform we're actually missing in that ecosystem was a BVOD [broadcast video on demand] platform,' she said. 'Ultimately, we think this shores up the local media ecosystem which we're thrilled to participate in.' Warner Bros. Discovery will remain in New Zealand through its 'highly successful' film production business WBITVP, suite of pay TV channels, and a content licensing deal with Sky's streaming platform, Neon. Kiwi media pundits are saying the $1 price tag indicates that Discovery NZ's parent, WBD, simply wanted to exit the free-to-air business. 'Our decision to sell the business follows an extensive review of options to ensure long-term success for our New Zealand operations,' Australia and NZ managing director Michael Brooks said. 'Advertiser behaviour has shifted, viewer habits have shifted, and we're still going through this digital transition,' he told Stuff. 'The media industry has changed right across the board. I don't think there's a market or a company that hasn't been impacted over the last few years.' The sale is the latest move in WBD's global restructuring efforts, as the media Goliath splits its businesses up. One arm of the company will focus on streaming, and the other on global networks - many of which were downsized, or shut down, across Europe in 2023. Brooks said the New Zealand sale has 'absolutely no connection' to the global restructuring efforts. Meanwhile, NZ Prime Minister Christopher Luxon was unbothered about the deal. 'Yeah, I saw those reports,' Luxon said in parliament.
New York Times
7 hours ago
- Business
- New York Times
Alden Global Capital Makes a Play for The Dallas Morning News
MediaNews Group, the newspaper operator owned by the investment firm Alden Global Capital, put in a bid on Tuesday to buy The Dallas Morning News, a last-minute twist in the sale of a publication that has been locally owned for 140 years. This month, the media conglomerate Hearst agreed to acquire DallasNews Corporation, the parent company of The Dallas Morning News, in a deal valued at $75 million, or $14 a share. That deal has been approved by the boards of each company and was expected to close later this year. MediaNews Group is offering $16.50 a share, or roughly $88 million, for the company, according to a letter to the DallasNews board that was disclosed in a filing with the Securities and Exchange Commission. MediaNews Group urged the board to consider what it said was a superior offer. It also said it would ensure that the print edition of the newspaper continued. 'We have been considering a potential transaction with DallasNews for several years,' MediaNews Group wrote in the letter, 'because we are consistently impressed with its commitment to high-quality local journalism supported by operational efficiency that maximizes resources available for the newsroom.' MediaNews Group is a subsidiary of Alden Global Capital, an investment firm that has bought dozens of newspapers around the country, often cutting costs by shrinking newsrooms through layoffs. It is the second-largest newspaper publisher in the company, with publications like The Denver Post, The Boston Herald and The San Diego Union-Tribune. According to the securities filing, MediaNews Group has purchased nearly 10 percent of DallasNews stock. Under the Hearst deal, The Dallas Morning News would join Hearst Newspapers, which operates 28 daily newspapers, including The San Francisco Chronicle. Hearst has been acquiring publications in Texas and in February reached a deal to buy The Austin American-Statesman from Gannett. MediaNews Group does not own any newspapers in the state. A spokesman for DallasNews declined to comment. A representative for Hearst did not immediately respond to a request for comment. DallasNews is a publicly traded company, but has retained the structure of a family-owned business. Robert Decherd, a descendant of the paper's founder, is the controlling shareholder. The Dallas Morning News has faced the same headwinds as other local newspapers, such as declining advertising revenue and a struggle to reach profitability. It offered buyouts to staff in 2023 and recently sold its Plano, Texas, printing plant. According to a recent article, the newsroom has 157 employees. Colleen McCain Nelson was recently named executive editor. She is expected to start in the role in August.
