The subsidiary of global construction giant VINCI, VINCI Energies, bought Wah Loon Engineering from its management and Dymon Asia Private Equity Fund.
According to an announcement, Wah Loon Engineering specialises in turnkey 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,” the firm said.
With nearly 360 people – 315 in Singapore and 45 in Malaysia – it expects to generate $201.62m (€125m) in revenue in 2018, mainly in data centre construction, as well as industrial, commercial, and high-end residential developments. Its founder Alan Chong 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,” the company said.
VINCI Energies chairman and CEO 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.”