Equiteq advises Ryobi Geotechnique International on its sale to SGS SA
Equiteq is pleased to announce that it has advised Ryobi Geotechnique International (Ryobi-G), the Singaporean leader in geoengineering solutions, on the sale of 80% of its share capital to SGS SA.
Headquartered in Singapore, Ryobi-G delivers a comprehensive array of services encompassing soil investigation, instrumentation & monitoring, and related geotechnical engineering to its clients operating in both public and private sectors in the construction and infrastructure industry.
Ryobi-G was founded in 2000 by Joseph Wang, CEO, joined shortly thereafter by Changwei Luo, COO. It employs 487 engineers and technicians across Singapore and Malaysia. Capitalising on its human capital development strengths and its proprietary geo-monitoring IoT solutions, Ryobi-G has built a sterling reputation in the market thanks to its unique and top-quality services. It generated revenues of SGD 41.4m (USD 31.1m) in its financial year ended on 30th June 2020, achieving a year-on-year growth rate of 6% and maintaining high profitability despite the impact of the Covid-19 situation.
Established in 1878, SGS is the world leader in inspection, verification, testing and certification, with annual revenues of CHF 6.6b (USD 7.5b) in 2019. Recognized as a global benchmark for quality and integrity, SGS Group has more than 90,000 employees and a network of more than 2,600 offices and laboratories around the world.
“The acquisition of Ryobi-G supports our strategic evolution, increasing our exposure to the key TIC ‘mega-trends’ and customer demand. It also accelerates our regional growth strategy by supporting quality, safety and compliance services for critical infrastructure and construction.” said Frankie Ng, CEO of SGS. “It enables us to offer complex value-added services at the early design and construction stages of CAPEX projects in key infrastructure and construction markets. Ryobi-G’s proven track record will strengthen our growth profile in Singapore and South-East Asia.”
“Ryobi-G has grown consistently over the past 20 years. Developing and deploying innovative, efficient and reliable geotechnical solutions for our clients by leveraging both human capital and advanced technology has always been our value and strength,” observed Joseph Wang, who will continue to stay at the helm of Ryobi-G. “Joining SGS will enhance greatly our capabilities from a technical, operational and financial perspective. Ryobi-G will be better equipped to continue serving our long-time clients, as well as to explore new opportunities in overseas markets.”
About Equiteq, Joseph Wang added: “I have been very pleased with the continuous and thorough support that we have received from Equiteq. Having such a highly professional team on our side has made a huge difference in a process which was often technically complex and at times challenging.”
Jean-Louis Michelet, Managing Director of Equiteq Asia-Pacific said: “We are proud and happy that we have been instrumental in the coming-together of two great organisations. We wish them all the best in their exciting joint development ahead.”