VINCI Energies acquires Wah Loon Engineering, a Singapore leading company providing integrated electrical and mechanical engineering services
5 April 2018 - 8:30 am - Acquisitions - Singapore
- VINCI Energies expands its activities in Singapore
- €125 million in revenue expected in 2018
VINCI Energies, the VINCI subsidiary specialising in energy, and information and communication technology (ICT) services, has acquired Wah Loon Engineering from its management and Dymon Asia Private Equity Fund. The company is specialised in turn key electrical and mechanical projects including design, supply, installation, testing, commissioning and maintenance. It has extensive expertise in electrical systems, Heating, Ventilation and Air-Conditioning (HVAC), fire protection, system integration and building management systems.
With nearly 360 people – 315 in Singapore and 45 in Malaysia - it expects to generate €125 million in revenue in 2018, mainly in data center construction, as well as industrial, commercial and high end residential developments.
Alan Chong, founder of Wah Loon Engineering in 1988, will remain as Managing Director of the company.
This acquisition reflects VINCI Energies’ strategy of deploying its business activities in Asia Pacific, where the group is already operating in New Zealand, Australia, Indonesia and India.
VINCI Energies Chairman and Chief Executive Officer Yves Meignié said: “With Wah Loon, we acquire the market leader of data center construction in Singapore. Thus, VINCI Energies strengthens its activities outside of Europe and will be able to pursue the development of its business in Asia Pacific.”
In 2017, VINCI Energies has conducted 34 external growth transactions, corresponding to total additional full-year revenue of worth €1.6 billion.
About VINCI Energies
In a world undergoing constant change, VINCI Energies focuses on connections, performance, energy efficiency and data to fast-track the rollout of new technologies and support two major changes: the digital transformation and the energy transition. With their strong regional roots and agile organisational structure, VINCI Energies’ business units boost the reliability, safety and efficiency of energy, transport and communication infrastructure, factories and buildings.
2017: €10.8 billion revenue // 69,400 employees // 1,600 business units // 53 countries
VINCI is a global player in concessions, construction and energy businesses, employing more than 217,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.