Deloitte China signs agreement to acquire preeminent Hong Kong architecture firm WCWP
Enhancing Deloitte's capabilities in regional economic advisory, real estate advisory, infrastructure and capital project, value creation and reorganization services
Published: 23 August 2019
Deloitte China is pleased to announce an agreement to acquire one of the top Hong Kong based architecture and master planning consultants, WCWP International Limited (WCWP), a deal that is expected to significantly enhance Deloitte's existing services, especially in regional economic advisory, real estate advisory, infrastructure and capital projects, value creation and reorganization.
The deal will also create synergies through the combined strengths of Deloitte China, the leading professional services organization, and WCWP, a preeminent architecture firm with more-than-40-year presence in this market, as well as honing the competitive edge of our FA services. After the acquisition, WCWP will continue to operate under its own name, but become a member of the Deloitte family.
Explaining the rationale behind the acquisition, Edmund Yeung, Deloitte China Financial Advisory Managing Partner, says, “More than ever, our clients are looking for a one stop shop experience, especially when it comes to mergers and acquisitions, infrastructure investment and real estate projects. As we enhance the breadth and depth of our services, we can better advise clients throughout their M&A and investment cycles, providing them with more extensive post-deal support, such as design services, project management and construction administration for their built assets.”
“Deloitte had cooperated with WCWP on projects before and is deeply impressed by its professional knowledge and network of resources. There are also a lot of similarities in the core values of our two firms, which focus on commitment to excellence and concentrate on resolving the most complex issues that matter to our clients,” he adds.
Leveraging WCWP's world class design and architectural capabilities, Deloitte China is able to seamlessly align spatial and concept design in client engagements with governments' industry strategies, enhancing regions' attractiveness to investment and talent. The acquisition of WCWP will reinforce Deloitte China's leadership in this field, and facilitate us to make an impact that matters at regional and national levels.
Barry Will, a current Executive Director of WCWP, characterizes the synergy as an “innovative new direction where FA services and architecture come together to create a totally new field”.
“The intention is to capitalize on evolving markets and to provide new insights and opportunities for clients across a range of disciplines,” he continued. “We see completely new areas of business ranging from improved mergers and acquisitions through to innovative end-to-end servicing of fast-changing fields such as financial and scientific industries. We are extremely excited about the prospects this deal opens up.”
WCWP is an internationally recognized architecture practice, focusing on master planning, architectural and interior design, project management and contract administration services. The deal is expected to support broad business opportunities for the clients of both Deloitte and WCWP.
Click here to visit WCWP's website.