• Leading industrial hub inks landmark MoU with Siemens to nurture industry advancement as it marks two decades of enriching Dubai’s and the UAE’s economic landscape
• Customer numbers grow 11.5% year-on-year to exceed 1,100 businesses while operational factories increase 16% to surpass 350
• One of TECOM Group PJSC’s 10 business districts, the hub is actively contributing to the long-term visions of Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda ‘D33’
• Dubai Industrial City enriches industrial innovation and sustainability with customers generating over 70 megawatts of clean energy annually

DUBAI, UAE, Nov. 21, 2024 /PRNewswire/ — Dubai Industrial City celebrates its 20^th anniversary as the Middle East’s leading manufacturing and logistics hub demonstrating the collaborative power of the public and private sectors.

One of TECOM Group PJSC’s 10 vibrant business districts, Dubai Industrial City was unveiled in November 2004 to foster economic diversification and industrial innovation in Dubai and beyond. Commemorating two decades of collective success, Dubai Industrial City hosted a gala dinner at Jumeirah Emirates Towers attended by senior officials including Her Excellency Eng. Alia Abdul Rahim Al Harmoudi, Assistant Under-Secretary for the Sustainable Communities Sector at the Ministry of Climate Change and Environment (MOCCAE), His Excellency Ahmed Al Naqbi, CEO of Emirates Development Bank (EDB), Abdulla Belhoul, CEO of TECOM Group PJSC, and Saud Abu Alshawareb, Executive Vice President of Industrial at TECOM Group, to chart a roadmap for the industry’s future growth.

For more than 20 years, Dubai Industrial City has nurtured a thriving ecosystem of globally renowned manufacturing giants, with its ecosystem expanding by 11.5% in the year to end-September 2024 to exceed 1,100 local, regional, and international businesses, including Unilever, A P Moeller Maersk, Patchi, and Al Barakah Dates. The district’s workforce now exceeds 17,000 professionals, a year-on-year increase of 13% during the first nine months of this year, with its number of operational factories rising 16% during the same period to more than 350.

“Dubai Industrial City was founded on a strategic vision to cement the UAE’s and Dubai’s position as a global manufacturing powerhouse, and over the past 20 years, we have delivered on that promise,” said Saud Abu Alshawareb, Executive Vice President of Industrial at TECOM Group on behalf of Dubai Industrial City. “Our thriving ecosystem serves as a single-window gateway for global growth and sustainable development to nurture industrial excellence that elevates the ‘Made in UAE’ brandmark on the world stage.

“Dubai Industrial City’s legacy is embodied by the success of more than 1,100 local, regional, and international customers and over 350 operational factories that, from our district, are directly contributing to a more resilient manufacturing sector. We will continue to nurture advancements in the industrial sector and prime it for long-term growth in line with the vision of Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda ‘D33’.”

Partner for global impact

Reaffirming its commitment to nurturing industry excellence for long-term sustainable development, Dubai Industrial City announced a memorandum of understanding (MoU) with global technology company Siemens.

The MoU will facilitate cooperation between the district and Siemens in areas including Industrial Technology Transformation Index (ITTI) Assessments. Dubai Industrial City’s customers will receive insights on digitalisation, sustainability, and operational efficiencies through ITTI Assessments conducted under the UAE’s Ministry of Industry and Advanced Technology (MoIAT) as part of the MoU.

The partnership will also provide Dubai Industrial City’s community access to Siemens’ Green Lean Digital Factory Roadmaps and Greenfield Digital Factory Planning services to enhance the competitiveness of factories within the district and gear them for enhanced sustainability. Siemens will also support Dubai Industrial City in areas including training and capacity building, as well as sustainability enhancement support, reaffirming the district’s commitment to advance Dubai’s and the UAE’s manufacturing sectors.

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Nurturing industry advancement

Dubai Industrial City is growing as it attracts an increasing number of global manufacturers, with 13.9 million sq.ft. of industrial land added this year alone. Over the past two years, Dubai Industrial City has attracted over AED 2 billion in private sector investment, and recently signed a musataha agreement each for MD Pharma Factory’s AED 130 million pharmaceutical facility and OZON Pharmaceuticals’ AED 293 million manufacturing hub at the district. Silver Line Gate Group also broke ground on an AED 200 million integrated facility at Dubai Industrial City this October.

Strategically located close to global trade routes including Jebel Ali Port, Al Maktoum International Airport, the Dubai Industrial City Etihad Rail freight terminal, and critical national and regional road systems, Dubai Industrial City offers end-to-end connectivity to ensure seamless operations for a diverse range of customers. The district offers six sector-specific zones – dedicated to manufacturers of base metals; machinery; minerals; food and beverage; transport; and chemicals – that are designed for efficiency, helping to minimise waste and promote a circular economy.

Manufacturing brilliance

As Dubai remains the global leader for attracting greenfield foreign direct investments (FDI) and the newly launched National Investment Strategy 2031 seeks to triple the UAE’s cumulative FDI balance to AED 2.2 trillion by 2031, sectors such as manufacturing, logistics, and storage will remain a promising avenue for economic growth. In the second quarter of this year alone, Dubai’s manufacturing sector was valued at AED 10.6 billion, contributing 9.1% of Dubai’s GDP worth AED 116 billion during the period. The transport and storage sector, valued at AED 15.85 billion, comprised 13.6% of the city’s GDP.

Dubai Industrial City is aligned with Operation 300bn and Make it in the Emirates and encourages investors, innovators, and developers to leverage the favourable manufacturing environment. It is also supportive of Dubai Economic Agenda ‘D33’, which is creating new opportunities for manufacturing sector growth as Dubai continues to strengthen its diversified economic base. Dubai Industrial City’s unites these visions with customer efforts through its Make Brilliance global awareness campaign to link manufacturers and industry leaders from around the world in Dubai. Make Brilliance was launched in May 2023 as Dubai Industrial City entered strategic partnerships with MoIAT, MOCCAE, EDB, and Dubai Department of Economy and Tourism (Dubai DET) to promote advanced manufacturing in Dubai and the UAE.

Dubai Industrial City’s ecosystem also demonstrates its commitment to innovation and sustainability, with the co-location of global giants at the district fostering collaborations to close the loop for a circular economy. Their contributions are supported by Dubai Industrial City’s efforts to encourage the adoption of renewable energy, with its customers generating over 70 megawatts of clean energy annually.

The district’s 20^th anniversary celebrations included recognition for achievements that embody the ethos of Make Brilliance, including its Strategic Partners such as MoIAT, MOCCAE, EDB, Dubai DET, Dubai Development Authority, Dubai Land Department, Dubai Civil Defence, and Dubai Police. International Humanitarian City was recognised for its Brilliance in Humanitarian Support by Dubai Industrial City, while Al Khayyat Investments, Dubatt Battery Recycling, and Neelkanth Cables were recognised for Brilliance in Logistics, Sustainability Leadership, and New Avenues, respectively. Unilever and Standard Carpets both received accolades for Brilliance in Innovation.

Such customers are among Dubai Industrial City’s community of globally accomplished leaders that has been the mainstay of manufacturing excellence in the Middle East for more than 20 years. The region’s leading industrial hub offers world-class infrastructure, including land, storage, and logistics spaces.

Dubai Industrial City is part of TECOM Group’s portfolio of business destinations that include Dubai Internet City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Design District (d3), and Dubai Science Park.

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G-P’s placement on the list for the second consecutive year reflects continued investment in innovation and market leadership

BOSTON, Nov. 21, 2024 /PRNewswire/ — REMOTE FIRST COMPANY — G-P (Globalization Partners), recognized by industry analysts as the undisputed leader in global employment, today announced it was named to the Deloitte Technology Fast 500™ for the second consecutive year. The Deloitte Technology Fast 500™ is a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 30th year.

“Innovation, transformation and disruption of the status quo are at the forefront for this year’s Technology Fast 500 list, and there’s no better way to celebrate 30 years of program history,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s Audit & Assurance practice. “This year’s winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress.”

This year’s 2024 Technology Fast 500 companies achieved revenue growth ranging from 201% to 186,373% over the three-year time frame, with an average growth rate of 1,981% and median growth rate of 460%.

G-P was previously recognized as a Technology Fast 500 award winner for 2023. The company continues to receive recognition as a leader in global employment, earning top placement in all industry analyst reports since 2020, including Everest Group’s Employer of Record (EOR) Solutions PEAK Matrix® Assessment, NelsonHall’s Global EOR Services NEAT evaluation report and the IEC Group Global EOR Study in 2024.

About the 2024 Deloitte Technology Fast 500
Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2020 to 2023.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

About G-P
G-P is the recognized leader in global employment, delivering everything companies of all sizes need to manage the full employee lifecycle. G-P offers a robust suite of products, including the world’s first AI-based global HR compliance advisor, G-P Gia™, and AI-enabled Employer of Record (EOR) and Contractor products. G-P supports teams in 180+ countries with more than a decade of global employment experience, the largest team of in-country HR, legal, and compliance experts, and its unmatched proprietary knowledge base.

G-P: Global Made Possible™
To learn more, please visit: g-p.com or connect with us via LinkedIn, X, Facebook or check out our Blog.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 460,000 people worldwide connect for impact at www.deloitte.com.

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Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

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MILAN, Nov. 21, 2024 /PRNewswire/ — H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $66 billion of capital under management, is pleased to announce that an affiliate has signed a definitive agreement to sell its portfolio company, Deenova S.r.l. (“Deenova” or the “Company”), a leading Italian company in the field of traceability of drugs and medical devices in European hospitals. The Company is being purchased by Equiter Infrastructure II, a fund managed by Ersel Asset Management SGR, and Amundi Private Equity Italia (“APEI”), in partnership with Deenova’s founder Sergio Giglio. The close of the transaction is subject to customary, regulatory approvals. 

Since 2004, Deenova has been providing value-add automation and traceability services for hospitals by designing, implementing, and operating automatic distribution and tracking systems for drugs and medical devices. Deenova is a long-term partner solution for hospitals, implementing fully integrated systems with hospital infrastructure, and guaranteeing significant benefits in terms of patient safety, cost savings, and process optimization.

Since its initial investment, H.I.G. has supported Deenova’s international growth through strategic acquisitions and the strengthening of its management team. The Company has become an industry leader throughout Europe, with a current presence in approximately 100 hospitals in Italy, France, United Kingdom, Malta, Germany, Spain, and Poland.

Raffaele Legnani, Managing Director and Head of H.I.G. in Italy, commented: “We are proud to have supported the growth strategy of Deenova, allowing the Company to become a European leader in the field of traceability and management of drugs and medical devices. We are also proud to have positioned Deenova for significant and continued future growth and for the return achieved by our investors on this deal.”

Giorgio Pavesi, CEO of Deenova, added: “The partnership with H.I.G. has been fundamental in accelerating Deenova’s international development through organic and inorganic growth initiatives. As a result, today the Company is a leader in the reference sector for the excellence of services offered to hospitals in Europe.”

About Deenova S.r.l.

Deenova has been active since 2004 in the provision of high value-added automation and traceability services for Italian hospitals, where it designs, implements and operates automatic distribution and tracking systems for drugs and medical devices. Deenova’s technological solutions are able to guarantee hospitals significant benefits in terms of patient safety, cost savings and process optimization. To date, Deenova’s systems are present in about 100 hospitals in Italy, France, United Kingdom, Malta, Germany, Spain and Poland. For more information, please refer to the Deenova website deenova.com.

About H.I.G. Capital

H.I.G. Capital is a leading global alternative investment firm with $66 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/ value-added approach:

• H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
• H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
• H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
• H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

*Based on total capital raised by H.I.G. Capital and affiliates.

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Contact:

Raffaele Legnani
Managing Director 
[email protected]

H.I.G. European Capital Partners Italy S.r.l.
Via Dei Mercanti 12
20121 Milan
Italy
P +39 02 45 37 5200
hig.com

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