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HanmiGlobal, a South Korean construction engineering company, has acquired the Manchester-based construction consultancy firm Walker Sime. The company said that the goal of the acquisition is to widen its presence in the European region.
According to The Korea Times, the deal was revealed this week, and HanmiGlobal was able to acquire Walker Sime through its subsidiary in the United Kingdom. The company is now the largest shareholder of the British construction consultancy company after buying a 92.5% stake.
As it expands its business outside of South Korea, HanmiGlobal is planning to provide professional technology and related services to customers overseas by using English manpower and its expertise in this field of business.
Furthermore, with the addition of Walker Sime to its portfolio, they believed this would increase project orders from other Korean investment companies that are also making their way into the U.K. market. HanmiGlobal will also provide support to battery makers from Korea so they can easily build their secondary battery production plants in Eastern Europe.
It was added that the acquisition would also make it easier for HanmiGlobal to join in the future construction projects in Saudi Arabia, to build new cities along with its new British affiliate. It was mentioned that the company was able to secure an e-PMO or special project management office service job for Saudi Arabia's NEOM Smart City.
Business Korea reported that prior to its acquisition of Walker Sime, HanmiGlobal also bought another British company called K2, and this was in 2019. Moreover, in partnership with Turner & Townsend global cost management firm, it launched Turner & Townsend Korea in 2010.
Meanwhile, HanmiGlobal’s goal is to expand its operations in the U.K. and hasten its entry into the European market by boosting its services and sharing customers with Walker Sime. "We plan to diversify our overseas business by securing new growth engines in the fields of energy infrastructure and development," an official of HanmiGlobal stated.
Walker Sime was established in 1999, and since then, it has been providing various consultancy services in the area of construction project management and architectural design. The company has also engaged in many other projects, including the energy side, and recently broadened its reach from the private to the public sector.
