Japanese logistics firm Trancom to buy Singapore’s Sergent Services bldg. cleaning firm
SINGAPORE, NNA - Japanese logistics provider Trancom Co. will buy a Singapore-based building cleaning firm, Sergent Services Pte. Ltd., to establish a bridgehead for its business expansion in Southeast Asia.
Trancom will acquire a 90 percent stake, or 1.8 million shares, in Sergent Services for 1,165 million yen ($10.76 million), the Nagoya-based company said in a statement on Monday. The acquisition of shares will be completed on October 28.
Founded in 1998, Sergent Services provides commercial building cleaning at Singapore Changi Airport, the Mass Rapid Transit (MRT) system, schools, commercial facilities and other places in Singapore.
“Sergent Services is aggressive in acquiring industry peers in neighboring countries,” Trancom Managing Executive Officer Keisuke Nakazawa told NNA. “We want to accelerate our business in the region, including Malaysia, the Philippines, and Vietnam.”
Trancom is engaged in third-party logistics, which provides distribution, warehousing, and fulfillment services to clients. It also provides transportation matching services utilizing trunk-line trucks between distribution bases, dispatches human resources to manufacturing sectors and conducts other businesses.
It started business in Thailand in 2008 and in China in 2014. “Promoting our business in the ASEAN (Association of Southeast Asian Nations) region is positioned as an important part of our group’s overseas expansion strategy. We have decided to move into Singapore as a bridgehead for further expansion of our business,” the statement said.