Saudi Arabia-based REDA Hazard Management has been exploring strategic choices together with a full sale, based on individuals conversant in the matter, providing a uncommon alternative for buyers to purchase right into a privately held agency within the kingdom.
The hearth security and gear firm has been working with Moelis & Co. on the potential transaction, the individuals stated, asking to not be recognized because the talks are non-public. It has approached potential patrons — together with each regional and worldwide non-public fairness companies, the individuals stated.
No closing choice has been made and discussions might nonetheless fall via, they added. Representatives for REDA and Moelis declined to remark.
- Advertisement -
Based in 1986, REDA offers security and safety companies to key sectors within the kingdom together with oil, fuel, petrochemicals and aviation. Its shoppers embrace oil large Saudi Aramco and chemical main Sabic, based on the firm’s web site.
The corporate’s robust hyperlinks to Saudi industrial heavyweights and its push to increase past the Gulf might make it engaging to world buyers, the individuals stated.
Saudi Arabia is in the course of an financial transition geared toward boosting native manufacturing and creating non-oil sectors similar to mining and aviation.
REDA additionally provides specialty gear similar to fuel detectors, fireplace station gear and welding helmets. Most of its workplaces, workshops and manufacturing websites are within the Gulf, nevertheless it additionally operates in Central and South Asia, North Africa and Ohio within the US, based on its web site.
Generated by readers, the feedback included herein don’t replicate the views and opinions of Rigzone. All feedback are topic to editorial overview. Off-topic, inappropriate or insulting feedback will probably be eliminated.
MORE FROM THIS AUTHOR
Bloomberg
