Saudi Arabia’s Zahid Group has completed its acquisition of South African industrial company Barloworld in a landmark deal valued at R23 billion (about $1.3 billion).
The transaction, finalized in January 2026, takes the 123-year-old firm private after more than a century on public markets and stands out as one of the most significant corporate cross-border deals between the Middle East and Africa in recent years. Barloworld’s shares will be delisted from the Johannesburg Stock Exchange and A2X on January 27, marking the end of its long run as a publicly traded company in South Africa. For decades the company has been a major force in Africa’s industrial landscape, best known for distributing Caterpillar construction and mining equipment across Southern Africa and operating in sectors such as infrastructure, mining, energy, and logistics.
The acquisition was led by a consortium anchored by the Zahid Group through its subsidiary, Gulf Falcon Holding. After acquiring the remaining public shares through a compulsory squeeze-out mechanism, the group secured full ownership of the company. Before closing, the deal underwent months of regulatory review. Barloworld had voluntarily disclosed certain export control issues to the U. S. Commerce Department’s Bureau of Industry and Security, which delayed the timeline but ultimately found no sanctions violations. A separate legal analysis from law firm Dentons also helped clear key legal hurdles. Founded in 1902, Barloworld has a long history in South Africa and the broader African region. Under the new ownership, the company’s existing management team will continue to run daily operations, and Zahid Group will hold board positions while maintaining Barloworld’s South African identity.
The deal is more than a change of ownership. It reflects growing interest from Gulf investors in African industrial assets and confidence in the continent’s long-term infrastructure and mining potential. As part of future plans, Zahid Group has committed to supporting skills development and youth training initiatives, aligning with broader economic goals shared between Saudi Arabia and South Africa.with broader economic goals shared between Saudi Arabia and South Africa.
In summary, the acquisition of Barloworld by Saudi Arabia’s Zahid Group not only marks the end of the company’s public listing but also signals deeper investment ties between the Middle East and Africa’s industrial sectors, opening a new chapter for both Barloworld and regional corporate collaboration.
Saudi Giant Acquires 123-Year-Old South African Firm Barloworld in $1.3 Billion Deal
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