Saudi Arabia-based REDA Hazard Control has been exploring strategic options including a full sale, according to people familiar with the matter, offering a rare opportunity for investors to buy into a privately held firm in the kingdom.
The fire safety and equipment company has been working with Moelis & Co. on the potential transaction, the people said, asking not to be identified as the talks are private. It has approached prospective buyers — including both regional and international private equity firms, the people said.
No final decision has been made and discussions could still fall through, they added. Representatives for REDA and Moelis declined to comment.
Founded in 1986, REDA provides safety and security services to key sectors in the kingdom including oil, gas, petrochemicals and aviation. Its clients include oil giant Saudi Aramco and chemical major Sabic, according to the company’s website.
The company’s strong links to Saudi industrial heavyweights and its push to expand beyond the Gulf could make it attractive to global investors, the people said.
Saudi Arabia is in the middle of an economic transition aimed at boosting local manufacturing and developing non-oil sectors such as mining and aviation.
REDA also supplies specialty gear such as gas detectors, fire station equipment and welding helmets. Most of its offices, workshops and manufacturing sites are in the Gulf, but it also operates in Central and South Asia, North Africa and Ohio in the US, according to its website.
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