SGS Acquires a Majority Stake in Ryobi Geotechnique International Pte Ltd
SGS is pleased to announce the acquisition of a majority stake (80%) in Ryobi Geotechnique International Pte Ltd (RGIPL).
Headquartered in Singapore, RGIPL is a company specializing in providing geoengineering solutions for activities such as instrumentation and monitoring, soil investigation, and geotechnical engineering for the construction and infrastructure industry. The majority of its business is generated in Singapore with a balanced portfolio of public and private sector projects. The company was founded in 2000 by Joseph Wang, CEO, and he was then joined by Changwei Luo, COO. RGIPL group employs 487 engineers and technicians. It generated revenues of S$41mln in FY2020 (06/2020), achieving strong growth of 6%.
“The acquisition of Ryobi supports our strategic evolution, increasing our exposure to the key TIC megatrends 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’s proven track record will strengthen our growth profile in Singapore and South-East Asia.”
“Ryobi has delivered consistent organic growth over the past 20 years. Like SGS, providing innovative and reliable solutions to customers and delivering market-leading services has always been our value and strength,” stated Joseph Wang, CEO, RGIPL. “Joining SGS will greatly enhance our capabilities from a technical, operational and financial perspective, which will better equip us to both serve our long-time customers and explore new opportunities in overseas markets.”
For further information, please contact:
Investors: Toby Reeks
SVP, Investor Relations, Corporate Communications and Sustainability
t: +41 79 641 83 02
Media: Daniel Rufenacht
Group VP, Corporate Communications and Sustainability
t: +41 78 656 94 59
SGS is the world's leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 89,000 employees, SGS operates a network of over 2,600 offices and laboratories around the world.