Eltizam Asset Management Group acquired Fixis, a Dubai-based facilities management provider in a move it says expands its facilities management portfolio.
Established in 2013, Fixis caters to privately-owned housing properties, offers services such as AC servicing, plumbing, electrical systems, masonry work, painting, thermographic analysis, and pool maintenance services.
The new owner added in a statement that the acquisition is part of Eltizam’s strategy to diverse its facilities business into multiple markets. It expects the Fixis business will aims to generate up to USD 40 million in revenue for the group.
“This strategic acquisition will be beneficial for us in the long,” explained Chris Roberts, CEO of Eltizam Asset Management Group. “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.”
Fixis will join sister entities Tafawuq FM and 800TEK in broadening Eltizam’s high standard integrated facilities management offering in the MENA region.
Roberts added: “Acquiring Fixis is another step in our acquisition activity as a built asset environment group.”
Gagan Seth, General Manager of Fixis, said working with Eltizam will expand the firm’s 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.”