• Alesayi acquires 85% of Initial Group to diversify its business portfolio.
• Initial Saudi Group provides a wide range of support services across the Kingdom. Alesayi
Alesayi Holding Group has taken a stride towards growth and diversification with acquiring 85% of Initial Saudi Group, a leading facilities and manpower management group with over 40 years of operational experience. The agreement was signed in attendance of Alesayi Holding Group CEO, Eng. Hany Habashy, and Initial Saudi Group’s Board Member, Mr. Faris Bundakji.
Initial Saudi Group operates through its two major companies, Initial Facilities Management and Workforce Saudia. With over 25,000 associates, Initial provides a variety of services, including cleaning, security, engineering, support, pest control, and landscaping across Saudi Arabia.
The acquisition is driven by Alesayi Group’s main focus on expanding and diversifying its service offerings, to cater to the increasing demand for manpower services for the rising industries and emerging opportunities within the Saudi Vision 2030 framework, along with facilitating seamless integration between the Group’s sectors and companies.
In this regard, Mohammad Omar Kassem Alesayi, Board Member of Alesayi Holding Group, emphasized that the Group is built on successful local and global partnerships, as it aims to expand its reach and to drive growth. By leveraging resources and expertise, Alesayi provides innovative solutions that contribute to the goals outlined in the Quality of Life Program under Vision 2030.”
On his part, Alesayi Holding Group CEO, Eng. Hany Habashy said that “This acquisition marks an exciting chapter in the Group’s journey; by strategically acquiring Initial Saudi Group, Alesayi is positioning itself as an integrated services and solutions provider across a wide range of sectors within the Kingdom. Our commitment to contributing to the Kingdom's Vision in establishing major companies and projects is furthered by our expansion into new sectors, along with our support services in workforce recruitment.”
He also added that "Alesayi has a strong reputation for its successful partnerships especially in real estate and hospitality, highlighted by its recent partnership on developing thousands of residential units, and another partnership with Gensler on a multi-use tower project in Jabal Omar, as well as its ongoing partnership with Accor Hotels to become a key player in the hospitality industry within the Kingdom.
Meanwhile, Mr. Jason Ruehland, the newly appointed CEO of Initial Saudi Group, highlighted that “our reputation and proven track record are well-known in the industry through our subsidiary companies, specializing in pest control, security, and cleaning services. Our services are internally sourced, ensuring better quality and seamless integration across market sectors, giving us a unique edge in delivering superior services.”
About Alesayi Group:
Alesayi Holding was founded in 1945, by the late Omar Kassem Alesayi, with his ambitious vision and insightful experience in the field of trade. Today, the Group's field of work includes various vital sectors in the Kingdom, including engineering and technology, real estate and asset management, trade and retail, electronics, investment, financing, and the services sector.