SINGAPORE: Surbana Jurong has acquired Australia-based SMEC Holdings for S$400 million, both companies jointly announced on Monday (Aug 1).
The acquisition brings together almost 10,000 employees in more than 95 offices across 40 countries, and a combined revenue of about S$1.1 billion.
Formed in 1949, SMEC said it has a talent pool of almost 6,000 people in a global network of 75 offices. The infrastructure consultancy's notable projects include the Snowy Mountain Hydroelectric Scheme in New South Wales, Australia, which was recognised as one of the seven civil engineering wonders of the modern world by the American Society of Civil Engineers.
Surbana Jurong chairman Liew Mun Leong said there is a need for financing and expertise in infrastructure development across the Asia-Pacific market. "Singapore and Australia have successfully done many major showcase national development project through Surbana Jurong and SMEC. Besides their complementary strengths, both companies have very similar corporate culture and core values," he said. Mr Liew added that the combined entity will be positioned as the largest development consultancy group in the Asia-Pacific region.
Group CEO of Surbana Jurong Wong Heang Fine added that SMEC's experience and strengths in major infrastructure projects including urban transport and energy and water sectors, complements Surbana Jurong's track record and expertise in urban planning, township and industrial development.
SMEC's CEO and managing director Andy Goodwin said this partnership will help further accelerate and support SMEC's growth ambitions.
This acquisition comes a year after Surbana International Consultants and Jurong International Holdings merged to form Surbana Jurong.