Newszy: Muscat, Oman – Renaissance Services, Oman’s leading integrated facilities management (IFM) and accommodation solutions company, has announced the completion of its acquisition of Socat LLC, the Omani arm of the French multinational Sodexo, as part of a strategic growth initiative. The acquisition further consolidates Renaissance’s market leadership and expands its service capabilities across the Sultanate.
Socat’s client base includes commercial and institutional facilities, and this strategic acquisition enhances Renaissance’s operational footprint and adds new value-based facility management (FM) capabilities to the Company’s portfolio.
Speaking on the occasion, Samir J Fancy, Chairman of the Board of Directors, Renaissance Services, said, “Facilities management is a critical enabler of Oman Vision 2040, supporting the efficiency, sustainability and resilience of the Sultanate’s infrastructure and economic assets. As Oman’s largest IFM provider, Renaissance is committed to strengthening the scale and depth of capabilities required to support this national agenda.”
The Socat acquisition represents the first transaction under Renaissance’s previously announced inorganic growth strategy and is expected to support long-term value creation for shareholders by further strengthening the Company’s market position and service offerings. The Company continues to actively evaluate additional acquisition opportunities in Oman and within the region that complement its core strengths and align with its long-term strategic growth objectives in the facilities management and allied support services sector.
Juma Al Khamisi, Chief Financial Officer, Renaissance Services, added, “The acquisition of Socat strengthens our diversification and enhances the resilience of our balance sheet through stable, long-term cashflows. It will expand our private-sector presence and positions us for scalable growth.”
Erwan Harb, Managing Director, Socat LLC, said, “Over the years, Socat has established itself as a high-performing and agile player in Oman’s catering and facilities management market, driven by strong operational discipline and a clear focus on client value. Joining Renaissance marks a natural next step in our journey, enabling us to scale faster, expand our private sector footprint, and bring more competitive and innovative solutions to the market.”
Renaissance Services, which is publicly listed on the Muscat Stock Exchange (MSX), is a leader in integrated facilities management, accommodation and support services in Oman. It serves prestigious clients across multiple sectors including oil and gas, defence, healthcare, gated communities, waste management and utilities at over 100 sites.