- On December 29, 2014
Monday, 29 December 2014
Dymon Asia Private Equity (“Dymon”) has agreed to acquire 51% of UE Managed Solutions Pte. Ltd. (UEMS) and 100% of UE ServiceCorp (Taiwan) Limited held by United Engineers Developments (UED), a wholly owned subsidiary of United Engineers Limited (UEL), through an investment holding company, Asia Facility Solutions Pte. Ltd. (AFS).
UEMS, with an operating track record of more than 20 years, is a leading integrated facilities management company which focuses on healthcare support services. It is one of the leading facility service providers to hospitals in Singapore, Taiwan, and Malaysia and has long-established relationships and contracts with blue chip customers in the hospital sector.
Gerald Chiu, founding partner of Dymon Asia Private Equity said, “UEMS is a best-in-class facilities management company providing end-to-end solutions, with an exceptional management team. It is already a significant regional player with more than 4,000 employees in total, but still has tremendous opportunity to expand, both geographically and by increasing its presence in estate management services in the public and private sectors. Dymon intends to invest heavily in UEMS’ technology programme, which has already shown good results in improving service quality to customers as well as labour productivity. We believe that technology, coupled with the continuous upskilling of staff, will strengthen UEMS’ already considerable competitive advantage.”
Mr Chan Cheow Hong, CEO of UEMS and an industry veteran, said, “We are delighted with the investment by Dymon, and share the same vision of strengthening UEMS’ market position as the leading facility management services provider in Singapore, Taiwan and Malaysia, through staff upgrading and the deployment of technology. We also believe Dymon will contribute significantly in the area of corporate and strategic expertise, and mergers & acquisitions, where we see the potential to grow our capabilities and services.”
ABOUT UE MANAGED SOLUTIONS PTE. LTD.
UEMS is an integrated facility management services provider offering property management, facilities engineering, facilities management, energy management, corporate real estate & agency, environmental, project management & technology optimization, learning & development and specialized services to our to all types of properties such as healthcare, education, residential, commercial and industrial across Singapore, Malaysia and Taiwan. It is a diverse and multi-skilled corporation with more than 20 years’ experience, excellent track record and enviable reputation.
ABOUT DYMON ASIA PRIVATE EQUITY
Dymon is an arm of Dymon Asia Capital focusing on investments in private markets, and manages a Southeast-Asian focused private equity fund with S$300 million in committed capital. Dymon concentrates on investments in Small and Medium Enterprises (SMEs), and makes both majority and minority investments. Dymon aims to provide more than capital, and partner with companies to execute strategic, operational and financial initiatives.
Dymon Asia Capital is an investment management company managing approximately S$4.4 billion in assets in aggregate, as at 1 June 2014.