CG Holdings is pleased to announce the proposed acquisition by its wholly owned subsidiary Al Laith of a majority equity interest in the Eventcentre group. Based just outside in Dublin, Eventcentre (www.eventcentre.ie) is a leading provider of events services and infrastructure in Ireland through the design, hire and sale of seating, staging, media studios, access scaffolding, camera towers and crowd safety equipment.
The Al Laith group, headquartered in Dubai, is a market leading provider of events infrastructure in the Gulf region. The acquisition of Eventcentre will provide Al Laith (www.allaith.com) with the platform to increase its service offering to clients in Ireland, the United Kingdom and Western Europe. Eventcentre will benefit from greater investment of equipment and skills, which in turn will enhance the offering to its existing clients.
Mr Eugene O’Doherty, CEO of Al Laith group, said “I am confident that this transaction will have numerous benefits for our employees and clients. We will be able to offer greater and more varied opportunities to our people and provide an enhanced service to our multinational clients in both the Middle East and Western Europe. I look forward to working with the Eventcentre team in this next exciting stage of growth.”
Mr Donal Molloy, managing director of Eventcentre, commented, “We have known the Al Laith team for a number of years and have worked together successfully on a number of projects such as the Ryder Cup and other European Tour golf tournaments. The decision to sell a majority interest in the business was not taken lightly, but I believe we have found in Al Laith a partner that will enable us to grow and thrive.”
The transaction terms have not been disclosed and the acquisition is expected to be formally concluded by the end of February 2018.