Handshake M&A 2

Arcadis has reduced its presence in South East Asia by selling its Hong Kong and Singapore businesses to the US-headquartered engineering and consulting firm, Global Infrastructure Solutions Inc (GISI).

The purchases of Arcadis’ Singapore operations and its Hong Kong design and engineering businesses will double GISI’s operations in the region. Directors Dave Hallam and Rene Hillig transfer from Arcadis to lead the Hong Kong and Singapore businesses, alongside a total of 500 ex-Arcadis staff.

Tony Shum, GISI co-founder and Asia chairman, said that the businesses have excellent reputations and will have a positive impact on GISI’s presence in South East Asia.

He commented: "Leveraging expertise of our enterprise leadership team, we will immediately invest in people and technology to provide best-in-class project management and design and consulting services to our clients."

GISI has completed five strategic transactions in 2022. It merged with Asia-based mechanical, electrical and building consultancy, JRP Group, in May and US-headquartered construction consultancy, Hill International, in August.

Dutch-based Arcadis has 350 offices in 40 countries, operating in the water management, environment and infrastructure sectors. In its half-year financial report in July, the company reported net revenue growth of 8.1%, with an improved operating EBITA margin of 9.3%. It also announced that in alignment with strategic plans, it was divesting activities in the Czech Republic, Slovakia, Thailand and the Middle East, as well as South East Asia this year.

Privately-owned GISI is an employee-owned, multi-platform based global sustainability, engineering and construction services company. Its member companies have 9,000 employees in more than 90 countries. Its annual revenue is $11bn.