France’s Vinci Energies plans to expand in Singapore with its acquisition of electrical and mechanical engineering firm, Wah Loon Engineering.
Vinci announced yesterday it had acquired Wah Loon from its management and Dymon Asia Private Equity Fund.
It provides electrical systems, heating, ventilation and air-conditioning, fire protection, system integration and building management systems.
Wah Loon employs 315 people in Singapore and 45 in Malaysia, and expects to generate €125m in revenue this year, mainly in data centre construction but also industrial, commercial and high end residential, Vinci said.
Image courtesy of Vinci
Alan Chong, who founded Wah Loon in 1988, will remain as managing director.
Vinci Energies chairman and chief executive Yves Meignié said: "With Wah Loon, we acquire the market leader of data centre 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 conducted 34 external growth transactions, corresponding to total additional full-year revenue of worth €1.6bn.
Top image: Night skyline of Singapore’s Central Business District (Wikimedia Commons)