Shimizu Corporation (1803) has acquired all shares of “Grandwork Interior Pte Ltd” (hereinafter referred to as “Grandwork”), a high-end interior construction company based in Singapore, as part of its global business expansion strategy. This acquisition makes Grandwork a wholly owned subsidiary of Shimizu Corporation.
Purpose of M&A
Shimizu Corporation, one of Japan’s leading construction companies, has been focused on strengthening its global business in recent years. In particular, it is actively expanding into promising markets in the ASEAN region and the United States.
The acquisition of Grandwork as a subsidiary aims to bolster Shimizu’s business foundation in the ASEAN market and support the expansion of new business initiatives. Grandwork holds a leading market share in Singapore’s high-end interior construction sector and serves luxury brands from groups such as LVMH and Richemont.
By bringing Grandwork into its group, Shimizu Corporation anticipates expanding its revenue by entering the luxury brand interior construction market within the ASEAN region. Additionally, the companies have collaborated previously on the Changi Airport renovation project, and Shimizu intends to leverage Grandwork’s experienced local management talent.
At this stage, details regarding the acquisition price and stock exchange conditions have not been disclosed.
Schedule
Announcement Date: November 8, 2024
Purpose of M&A
Shimizu Corporation, one of Japan’s leading construction companies, has been focused on strengthening its global business in recent years. In particular, it is actively expanding into promising markets in the ASEAN region and the United States.
The acquisition of Grandwork as a subsidiary aims to bolster Shimizu’s business foundation in the ASEAN market and support the expansion of new business initiatives. Grandwork holds a leading market share in Singapore’s high-end interior construction sector and serves luxury brands from groups such as LVMH and Richemont.
By bringing Grandwork into its group, Shimizu Corporation anticipates expanding its revenue by entering the luxury brand interior construction market within the ASEAN region. Additionally, the companies have collaborated previously on the Changi Airport renovation project, and Shimizu intends to leverage Grandwork’s experienced local management talent.
At this stage, details regarding the acquisition price and stock exchange conditions have not been disclosed.
Schedule
Announcement Date: November 8, 2024
