The professional services firm was looking to expand its presence in Asia within a highly competitive sector in Singapore that is represented by established players from international names to home-grown companies of varying sizes. Business Sweden assisted in providing market insights on the Singapore, South Korea and Japan markets. Overview of each market was broken down into specific characteristics such as how established is the professional services which helps the firm compare the maturity between markets.
Transforming insights into actions
The firm was also interested to understand the offers and positioning of some of the most successful companies within the competitive landscape. Business Sweden assisted the firm to conduct key interviews and reviewed market trends, regulations, customer requirements and segmentation.
Business Sweden’s local presence was instrumental to initiate an investigation into suitable companies for acquisition. Parameters such as employee size, technician fleet, segments of focus, revenue, size and share were outlined within a comprehensive listing of companies present in the market. The screening process resulting in a recommendation of top companies within each market for the firm’s consideration.
Accelerating entry and building capabilities through inorganic growth
After further discussions and due diligence, the firm announced its acquisition of three companies in Singapore, marking an entry into both Singapore and Malaysia due to the shared presence in both markets, gaining the company significant staff strength, assets and a solid base into the market. Business Sweden’s recommendations had been spot on and targeted in meeting the firm’s requirements and had been instrumental in the company’s Asian growth strategy. “Securing the key companies and strengthening its capabilities were key to the company’s growth acceleration in Asia and the company is focusing on standardizing an offer towards its Asian customers and integrating the companies for now”, commented the regional director of the firm.