VINCI Energies acquires Wah Loon Engineering
VINCI Energies expands its activities in Singapore with the acquisition of Wah Loon Engineering, a Singapore leading company providing integrated electrical and mechanical engineering services.
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.