- DUBAL Holding and Tadweer Group will each equally own the shares in Enviroserve
- Partnership showcases expansion of Tadweer Group’s portfolio as a sustainable champion unlocking the circular economy
- Enviroserve is the only integrated e-waste treatment facility in Middle East, Africa and Caucasus region
Abu Dhabi, UAE, 21 May: Tadweer Group and DUBAL Holding have signed an agreement to acquire 100 percent of e-waste specialist Enviroserve, with equal ownership of shares among the two entities. Established in 2004, Enviroserve is the only integrated e-waste processing hub in the Middle East, Africa and Caucasus region. The state-of-the-art facility is mainly regarded for its capacity to recycle waste from electrical and electronic equipment generated in the region.
Ali Al Dhaheri, Managing Director and Chief Executive Officer of Tadweer Group, said:“Partnerships are core to Tadweer Group’s strategic growth, and agreements with like-minded organisations such as DUBAL Holding is key to unlocking the potential of the circular economy. Our acquisition of Enviroserve further demonstrates our commitment to investing in alternative solutions to realise our ambition of diverting waste from landfill. We look forward to working closely with DUBAL Holding to advance and enhance e-waste management.”
Ahmad Hamad Bin Fahad, Chief Executive Officer of DUBAL Holding said: “We are pleased to collaborate with Tadweer Group to acquire Enviroserve, which marks a significant step in our journey towards sustainability and transforming waste management practices. This collaboration is a testament to our shared goal of fostering innovative solutions for managing waste and underscores our commitment to create positive environmental impact. Together, we strive to set new benchmarks in responsible e-waste management, ensuring a cleaner and brighter future for the coming generations.”
Stuart Fleming, Co-founder and Chief Executive Officer of Enviroserve said: “I am excited about Enviroserve’s future in the competent hands of Tadweer Group and DUBAL Holding. Preserving the planet is becoming increasingly imperative, and so a forward-thinking focus on sophisticated recycling and e-waste management is critical. I believe that this share acquisition will proactively advance Enviroserve’s ongoing mission – to offer world-class recycling services and make a positive impact on the environment – and I look forward to seeing the continued upwards trajectory of the company in the coming years.”
Brian Wilkie, Co-founder and Chairman of Enviroserve added: “When Stuart and I founded Enviroserve in 2004, we dreamed of being among the largest recyclers in the Middle East. That dream came true in 2018 with the opening of The Recycling Hub in Dubai Industrial City. Now, with the nomination last year at COP28 of Enviroserve’s ‘National Asset’ status and its acquisition by two such excellent organisations, we are proud to have played an important part in the UAE’s sustainability strategy. I wish the company and all concerned best wishes for its future growth, both here and internationally.”
Awad Capital Ltd., a DFSA regulated firm, is acting as exclusive financial advisor to Enviroserve and its shareholders.
Ziad Awad, CEO of Awad Capital, said: “We are happy to continue to support the circular economy ecosystem. With the support of Tadweer and Dubal holdings, Enviroserve will magnify its positive impact on our environment and communities.”
Taylor Wessing LLP is acting as legal advisor to Enviroserve.
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About Tadweer Group
Tadweer Group, part of ADQ, an Abu Dhabi-based holding company, is leading the way in promoting sustainable waste practices and establishing new benchmarks for the circular economy. The company’s strategic vision is aimed at revolutionising waste management by unlocking the value of waste.
As the sole custodian of waste management in Abu Dhabi, Tadweer Group is committed to deploying advanced technologies and fostering strategic partnerships in support of the UAE’s sustainability objectives, working towards its goal of diverting 80% of Abu Dhabi’s waste away from landfill by 2030. In addition to its commitment to Abu Dhabi, Tadweer Group has ambitious international goals, striving to make significant contributions to sustainable waste management beyond the UAE.
About DUBAL Holding LLC (DH):
DUBAL Holding LLC (DH), established in 2014, is an Industrial Investment arm of Investment Corporation of Dubai (ICD) & has been at the forefront of promoting sustainable development and economic diversification in the UAE with focus on impactful investments in the Non-Ferrous Metals, Energy, Industrial & Recycling / Sustainability sector. DH’s current portfolio of assets includes Emirates Global Aluminium (EGA), OSE Industries LLC, Warsan Waste Management Centre, Sohar Titanium in Oman, Sinoway Carbon in China and Thermalex Inc at USA.
About Enviroserve
Enviroserve is a pioneering leader in the field of recycling and an end-to-end partner for all types of waste. An award-winning company, it offers an extensive range of services including electronic waste recycling, IT refurbishment, refrigerant gas reclaiming and specialised waste disposal.
Enviroserve boasts the only integrated waste recycling hub in the Middle East, Africa and Caucasus, serving multi-national and large corporations, businesses and individuals.
