Mohed Altrad, president of the global business that bears his name, knows a few things about overcoming difficult circumstances.
The self-made French billionaire has an unusual background.
For example, the founder of Altrad Group does not know his birthday. Instead he had to make a guess on the year he was born and his children pulled out a day from a hat so they could celebrate it.
Born to a poor Bedouin woman in the Syrian desert and abandoned by his father, his beginnings were extremely humble.
She died when he was four and he was raised by his grandmother in a tent, following the tribe and caring for livestock.
Learning to read and write was actively discouraged – as a Bedouin, he was not permitted to attend school.
Determination
But the young Mohed was determined and learned to read and went on to study, first in the Syrian city of Raqqa. He then won a scholarship from the Syrian government to study in France.
When he arrived in Montpellier he didn’t speak French, but he eventually managed to obtain a number of qualifications, getting a Phd in IT.
He told a writer from Forbes magazine: “I had no special dream at the time. Only the ambition not to accept my initial destiny.”
After a few years working as an engineer, including four years in Abu Dhabi working for the national oil company, in 1985 he bought a struggling scaffolding business for one French franc – as well as 200 employees and many liabilities.
Sparrows joins the Altrad fold
This grew into the global Altrad Group, which stuck a deal to acquire Aberdeen-based Sparrows Group for an undisclosed sum last week.
Around 2,000 workers from the Bridge of Don-based Sparrows are expected to transfer over to the French-headquartered company when the deal closes in the second or third quarter of the year.
Sparrows employs around 1,000 members of staff in Aberdeen.
The firm was sold to Altrad by American private equity group, AEA Investors.
AEA had in turn snapped up Sparrows in September 2012 from CBPE Capital.
Altrad, which has a north-east operation in Dyce, said the Aberdeen business will run independently within the wider organisation – adding that “redundancies are unlikely”.
It also said that it will retain Sparrows’ “existing and well-respected management team”.
The company’s 605-page charter sets out how it treats its subsidiaries – allowing them to operate like entrepreneurial businesses, while benefiting from the cash, products and cost efficiencies of a multinational.
The company, which is headquartered in Montpellier, has 120 subsidiary companies in over 50 countries and employs 42,000, offering industrial services and construction equipment.
More on Altrad
In addition to his success in business, Mr Altrad is President of Montpellier rugby club.
He is also a highly-regarded novelist and was made an Officer of the Legion of Honour in 2014 – the French equivalent of a knighthood.
He won the World Entrepreneur of the Year award in 2015, the first Frenchman to have won it.
