Pittsburgh-based Wesco International, a logistics services and supply chain solutions firm, announced it has entered into an agreement to acquire Singapore-based Newark Engineering.
Newark Engineering provides engineered cooling solutions and lifecycle services for data centers. Wesco said the acquisition will expand its capabilities in data center cooling and lifecycle services and will strengthen its presence in the Southeast Asia region.
“Newark provides integrated, turnkey cooling solutions, with strong partnerships and a blue-chip customer base that includes global technology and Fortune 500 companies,” John Engel, chairman, president, and CEO of Wesco, said. “This acquisition expands our participation in the data center value chain, particularly in engineered cooling and lifecycle services, and provides a strong growth platform in Southeast Asia. It’s a service-led business with attractive margins, and we see a clear path to above-market growth by leveraging Wesco’s global customer relationships and expanding solutions portfolio. We expect this acquisition to enhance our growth profile, support margin expansion, and generate attractive returns within the first year.”
Under the terms of the agreement, Wesco will acquire 100 percent of Newark for a cash-free, debt-free purchase price of 175 million in Singapore dollars, or approximately $136 million USD.
Wesco said Newark generated approximately USD$60 million in revenue in 2025 and is EBITDA margin accretive to the Wesco portfolio with a purchase multiple below Wesco’s current trading multiple.
“Partnering with Wesco will accelerate our growth and expand our ability to serve data center customers across Southeast Asia,” Fanny Lee, managing director of Newark Engineering Group, said. “Wesco’s global platform and complementary capabilities will allow us to broaden our solutions portfolio, access new customers, and scale the business.”