Acquisition to generate up to USD 40 million in revenue for Eltizam
Eltizam Asset Management Group has announced that it has acquired Fixis, a Dubai-based facilities management provider, to continue to expand its facilities management portfolio. The acquisition, which is part of Eltizam’s strategy to diverse its facilities business into multiple markets, aims to generate up to USD 40 million in revenue for the group.
Fixis will join sister entities Tafawuq FM and 800TEK in broadening Eltizam’s high standard integrated facilities management offering in the MENA region.
Commenting on the acquisition, Chris Roberts, CEO of Eltizam Asset Management Group, said: “This strategic acquisition will be beneficial for us in the long term. With Fixis, we will add value to our facilities management growth and open doors for more opportunities in one of four key focus areas: real estate facilities management. Acquiring Fixis is another step in our Acquisition activity as a built asset environment group.”
Gagan Seth, General Manager of Fixis, remarked: “We are proud to be part of the Eltizam Asset Management Group. Working with Eltizam will expand our capabilities, and with our professional staff and resources, this acquisition will enhance the facilities management services we provide. We are optimistic that this partnership will contribute to the development and expansion of the business in the region.”
Established in 2013, Fixis serves clients across commercial, retail, and residential properties. Fixis Home, which caters to privately-owned housing properties, offers services such as AC servicing, plumbing, electrical systems, masonry work, painting, thermographic analysis, and pool maintenance services. Meanwhile, Fixis Advantage caters to business clients to enhance facilities for better performance and cost-efficiency. It offers energy planning, energy audits, energy systems, energy management, fit-outs, variations, sub-contract management, and third-party inspections.