<article><div title="Page 1">
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<p>Real estate firm <span style="color: #000080;"><strong style="color: #000080;"><a style="color: #000080;" href="http://dealstreetasia.com/tag/rowsley-ltd" target="_blank" rel="noopener noreferrer">Rowsley Ltd.</a></strong></span> will acquire AC Consortium Pte Ltd., an industrial building design firm, in an all-share deal for a consideration of S$8 million (nearly $5.8 million).</p></article>

<div title="Page 1">
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<p>Real estate firm <span style="color: #000080;"><strong style="color: #000080;"><a style="color: #000080;" href="http://dealstreetasia.com/tag/rowsley-ltd" target="_blank" rel="noopener noreferrer">Rowsley Ltd.</a></strong></span> will acquire AC Consortium Pte Ltd., an industrial building design firm, in an all-share deal for a consideration of S$8 million (nearly $5.8 million).</p>
<p>The acquisition will be made through Rowsley&#8217;s wholly owned subsidiary RSP Architects Planners &amp; Engineers. The transaction is subject to approval of the Singapore Exchange.</p>
</div>
</div>
</div>
<p>In August last year, Rowsley acquired Squire Mech Pte Ltd, a leading mechanical and engineering design practice. In August 2015, it also acquired a 34.7 per cent stake in RSP India.</p>
<p>AC Consortium was incorporated in 1999 by Grace Young Kok Inn and Tan Meow Hwa. It specialises in designing industrial buildings such as factories and warehouses and has a strong presence amongst small and medium-sized developers. Some of its significant projects include One Commonwealth, Cogent 1.Logistics Hub, West Park BizCentral, Loyang Enterprise and Oxley BizHub.</p>
<p>Rowsley said, “We are excited to welcome AC Consortium to the Rowsley group. It has a strong track record in industrial building design and extensive relationships in the SME sector. As Singapore continues to re-make its industrial landscape, this acquisition will strongly position us to capture growth in this space. We also see new growth opportunities arising from the highly complementary business between AC Consortium and RSP.”</p>
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
<p>According to information from the Building and Construction Authority, construction demand in Singapore’s industrial segment is forecast to reach S$4.2-5.6 billion in 2017, an increase of over 27 per cent from 2016. Overall industrial’s share of total construction demand is estimated to be 15.5 per cent, which is bigger than other segments such as public residential, private residential, commercial and institutional.</p>
<p>The acquisition will be immediately earnings-accretive. Based on AC Consortium’s unaudited financial statements ended 31 December 2016, its net tangible asset value is about S$2.9 million.</p>
<p>Rowsley will pay for the acquisition by issuing up to 115,654,024 new shares in two tranches to Young and Tan, who will both be staying on in the company after the acquisition.</p>
<p>The first tranche of up to 57,589,508 shares shall be issued upon the completion of the acquisition, while the balance of the shares is subject to terms and conditions which include the achievement of certain targets.</p>
<p>In addition, Rowsley has formed a joint venture (JV) company with Vanguard Interiors Pte Ltd to design and produce architectural products and solutions for buildings.</p>
<p>The JV will operate as Vanguard Rowsley Innovations Pte. Ltd. It is backed by Rowsley BM and Vanguard Properties, both wholly owned subsidiaries of their respective firms.</p>
<p>Rowsley BM has a 49 per cent stake in the firm and will see it and Vanguard combine their competencies and expertise for the purpose of designing and producing architectural products and solutions for buildings through Vanguard Rowsley.</p>
<p><strong>Also Read: </strong><span style="color: #ff0000;"><em><strong><a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/rowsley-to-acquire-hotel-manager-ariva-for-over-s10-6m-52909/">Singapore: Rowsley to acquire hotel manager Ariva for over S$10.6m</a></strong></em></span></p>
<p><span style="color: #ff0000;"><em><strong><a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/sg-realty-dealbook-10-44875/">SG Realty: Rowsley acquires Squire Mech, GLP secures more Chinese leases</a></strong></em></span></p>
<p><span style="color: #ff0000;"><em><strong><a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/singapore-rowsley-to-redevelop-northern-stock-exchange-in-manchester-20977/">Singapore: Rowsley to redevelop Northern Stock Exchange in Manchester</a></strong></em></span></p>
</div>
</div>
</div>
</div>


Real estate firm Rowsley Ltd. will acquire industrial building design firm AC Consortium in an all-share deal for S$8 million ($5.8 million).

Singapore: Rowsley to acquire industrial building design firm AC Consortium for $5.8m

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Singapore: Rowsley to acquire industrial building design firm AC Consortium for $5.8m

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief