Vinci buys majority stake in Singapore engineering firm Wah Loon Engineering

 
Source: 
VINCI Energies
Friday, 6 April, 2018

  • 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.

Wah Loon founder Alan Chong with Vinci Energies Asia Pacific MD Eric Devigne. Post-acquisition, Mr Chong is keen on Indonesia, where Vinci Energies has significant presence

 

Voir aussi : Notre fiche sur le secteur Énergies et Énergies Vertes à Singapour

 

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.