Asian consultancy company Surbana Jurong has acquired Australian firm SMEC in a S$400 million deal.
The 100% acquisition establishes a formidable global consultancy group with deep combined expertise in urban and infrastructure sectors, the two firms said in a statement. The combined entity will have a global workforce of 9800 employees in over 95 offices across 40 countries in Asia, Australia, the Middle East, Africa and the Americas, and will become one of the largest urban and infrastructure consulting firms in Asia.
“Surbana Jurong and SMEC share complementary strengths and competencies as well as a rich and proud heritage of major iconic projects recognised around the world,” commented Wong Heang Fine, Group CEO of Surbana Jurong. “SMEC’s experience and strength in major infrastructure projects in the urban transport, energy and water sectors such as hydroelectric power plants, Mass Rapid Transit (MRT) & Light Rail Transit (LRT) systems, bridges and highways, coupled with Surbana Jurong’s track record and expertise in urban planning, township and industrial development, will enable us to offer unique complete value chain services in urban and infrastructure solutions to our clients globally.”
“We are delighted about this partnership with Surbana Jurong, an Asian powerhouse, who will further accelerate and support SMEC’s growth ambitions,” added Andy Goodwin, SMEC’s CEO and Managing Director. “This partnership is a reflection of the strategic value of our business and its potential to further deliver solutions internationally. It also signifies recognition of the professional skills at SMEC. The combined entity will not only benefit our clients, but importantly deliver enhanced growth opportunities for our employees and our partners. We are confident that the synergies between SMEC’s progressive culture and Surbana Jurong’s established company values will result in a mutually beneficial partnership over the long term”.
Source : Water Power