- Companies
- Saudi Tabreed
Saudi Tabreed Valuation, Funding & Investors
Saudi Tabreed is valued at $833M as of December 2022.
Last Saudi Tabreed valuation
$833M
Undisclosed stage · Dec 2022
Last Saudi Tabreed funding round
$250M
Undisclosed stage · Dec 2022
Cumulative funding Saudi Tabreed raised
$250M
across 1 funding round
Key investors in Saudi Tabreed
Saudi Arabia's Public Investment Fund
Tabreed
About Saudi Tabreed
Saudi Tabreed is a Riyadh-headquartered district cooling specialist established in 2008 as a joint venture with Emirates District Cooling. It develops, owns, and operates energy-efficient cooling plants on a build-own-operate model, serving high-profile sites including King Abdulaziz International Airport in Jeddah, Riyadh Metro stations, Kingdom Centre tower, and multiple government complexes across Saudi Arabia.
Founded
2006
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Services
Valuation
$833M (Dec 2022)
Saudi Tabreed Valuation
Saudi Tabreed is currently valued at $833M, based on its undisclosed-stage round in December 2022.
The $250M round was led by Saudi Arabia's Public Investment Fund.
Saudi Tabreed valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2022 | Undisclosed stage | $833M |
Saudi Tabreed Funding History
Saudi Tabreed has raised a total of $250M across 1 funding round, plus 1 secondary share sale.
Saudi Tabreed funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2022 | Secondary | Tabreed (lead) | $15M | - | - |
| Dec 2022 | Undisclosed stage | Saudi Arabia's Public Investment Fund (lead) | $250M | $833M | Saudi Tabreed, a subsidiary of UAE-listed National Central Cooling Company (Tabreed), provides sustainable district cooling services in Saudi Arabia, serving major projects including the Red Sea Project, Saudi Aramco facilities, and urban developments like Jabal Omar in Mecca and King Abdullah Financial District, with a contracted capacity of 751,000 tons of refrigeration. Saudi Tabreed operates as a closed joint stock company with prior shareholders including Vision International Investment Co., Tabreed UAE, IDB Infrastructure Fund (II) “Mena Utilities,” and Al Mutlaq Group. In December 2022, Saudi Arabia's Public Investment Fund (PIF) acquired a 30% stake in Saudi Tabreed through a private placement of shares, with the transaction value estimated by Bloomberg at $250 million, though not officially disclosed. Concurrently, Tabreed purchased additional shares from Al Mutlaq Group for Industrial Investments for SAR 55 million ($14.62 million), increasing its ownership to 21.8%. A separate earlier acquisition by Tabreed in 2019 increased its stake to 28% for SAR 129 million, but this predates the PIF deal. The deal aligns with PIF's focus on sustainable investments and supports Saudi Vision 2030 by enhancing energy-efficient cooling infrastructure in key mega-projects. The PIF transaction was formalized with announcements around late 2022 to early 2023, including a February 2023 notice confirming the 30% equity acquisition. |
Who has invested in Saudi Tabreed?
2 investors have backed Saudi Tabreed across its funding rounds, including Saudi Arabia's Public Investment Fund and Tabreed.
Lead investors include Tabreed and Saudi Arabia's Public Investment Fund.
Saudi Tabreed Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 2 Saudi Tabreed investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialSaudi Tabreed Competitors
Saudi Tabreed competitors include listed companies like JANAF, Excelerate Energy, Sinopec Kantons Holdings and Kenya Pipeline Company, and private ones like Órigo Energia and Sustech.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $137M | $74M | $928M | - | ||
| Publicly listed | $1.2B | $416M | $1.1B | 2.6x | ||
| Publicly listed | $84M | - | $1.2B | - | ||
| Publicly listed | $317M | - | $1.3B | - | ||
| Private | - | - | $816M | - | ||
| Private | - | - | $800M | - |
Saudi Tabreed Public Comps
Saudi Tabreed is still privately-owned, but its public comps include Channel Infrastructure NZ, Paratus, CrossAmerica Partners, Pason Systems, ABRAJ Energy Services, Next Geo, ARKO Petroleum, Dor Alon Energy, Tetra Technologies and ProFrac.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $78M | $54M | 13.0x | 11.7x | 19.1x | 17.1x | |||
| $153M | - | 9.8x | 5.6x | - | 14.1x | |||
| $3.7B | $188M | 0.5x | 0.4x | 9.1x | 10.5x | |||
| $300M | $93M | 2.6x | 2.5x | 8.3x | 6.8x | |||
| $383M | $127M | 2.9x | 2.7x | 8.6x | 8.1x | |||
| $316M | $80M | 2.6x | 2.1x | 10.4x | 8.0x | |||
| $5.6B | $139M | 0.3x | 0.3x | 11.9x | 10.8x | |||
| $2.1B | $169M | 1.0x | - | 11.9x | - | |||
This data is available for Pro users. Sign up to see all Saudi Tabreed competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Saudi Tabreed
| When was Saudi Tabreed founded? | Saudi Tabreed was founded in 2006. |
| Where is Saudi Tabreed headquartered? | Saudi Tabreed is headquartered in Dammam, Saudi Arabia. |
| Is Saudi Tabreed publicly listed? | No, Saudi Tabreed is a private, VC-backed company. |
| What is Saudi Tabreed's valuation? | Saudi Tabreed was last valued at $833M in its undisclosed-stage round in December 2022. |
| How much funding has Saudi Tabreed raised? | Saudi Tabreed has raised $250M across 1 funding round. |
| What was Saudi Tabreed's last funding round? | Saudi Tabreed's last funding round was a $250M undisclosed-stage round in December 2022, led by Saudi Arabia's Public Investment Fund. |
| Who are Saudi Tabreed's investors? | Saudi Tabreed's investors include Tabreed and Saudi Arabia's Public Investment Fund. |
| Which companies are comparable to Saudi Tabreed? | Companies comparable to Saudi Tabreed include JANAF, Excelerate Energy, Sinopec Kantons Holdings, Kenya Pipeline Company, Órigo Energia and Sustech. |
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