• Zahid Group completed a USD 1.3B buyout of South African Barloworld, taking the 123-year-old industrial group private.
• The deal ends Barloworld’s long public run, with shares set to delist from the JSE and A2X on January 27.
• The acquisition deepens Saudi investment in African infrastructure and industry, aligned with Vision 2030 and long-term regional growth.

Zahid Group

Saudi Arabia’s Zahid Group completed the acquisition of South African industrial company Barloworld in a USD 1.3 billion deal (ZAR 23B).

The Saudi conglomerate led a consortium in the buyout of Barloworld Limited, thus taking the 123-year South African company private. The consortium was anchored by the Zahid Group through its subsidiary Gulf Falcon Holding. 

Best known for its status as the exclusive distributor of Caterpillar construction and mining equipment, Barloworld is a major player in Africa’s industrial and equipment markets. This buyout has concluded its long run as a publicly traded company in South Africa. Moreover, Barloworld’s ordinary shares are scheduled to be delisted from the Johannesburg Stock Exchange and A2X on January 27, 2026.

Acquisition 

This complete acquisition builds on the Saudi conglomerate’s previous minority share in the industrial company. It also reflects a growing wave of Gulf investments targeting African industrial, energy, and infrastructure assets. 

Under the new ownership structure, Barloworld’s existing management team will continue to run the business. Meanwhile, the Saudi conglomerate will take board representation.

Founded in Jeddah in 1943, Zahid Group is a major Saudi Arabian family-owned industrial conglomerate. Its operations span construction, energy, manufacturing, finance, travel, hospitality, and oil services across more than 30 countries.

The deal also includes commitments around skills development and youth training, including a Saudi–South Africa. Moreover, this program aligns with Saudi Arabia’s Vision 2030 agenda.

For South Africa, the acquisition underscores foreign investor interest in industrial assets despite domestic economic headwinds. For the Saudi conglomerate, it represents a long-term bet on Africa’s infrastructure, mining, and industrial growth.