YY Group acquires UFS, expands in Singapore’s $88Bn security market
SINGAPORE, SINGAPORE — YY Group Holding Limited, a Singapore-based workforce and facility management platform, has announced its acquisition of Uniforce Security Pte Ltd (UFS), a move set to bolster its presence in Singapore’s US$88 billion security industry.
Strengthening the IFM ecosystem
The acquisition integrates UFS into YY Group’s growing Integrated Facility Management (IFM) division, positioning the company to offer bundled, tech-enabled services across security, staffing, and facilities support.
UFS, a security provider with 2024 revenues of approximately US$6.4 million, will bring its expertise in advanced surveillance, risk management, and client protection into YY Group’s ecosystem.
The integration allows access to YY Circle, the group’s proprietary staffing platform, enabling UFS to scale its manpower seamlessly.
“Our goal is to unify protocols, integrate advanced technology, and offer bundled services that redefine client satisfaction,” said Mike Fu, Chief Executive Officer and Executive Director of YY Group Holding Limited.
Seamless leadership and tech integration
UFS Managing Director Chew Chee Keong will continue to lead the security division under the new structure.
“I am excited to continue leading the Security division under the YY Group umbrella. Together, we will drive innovation and deliver even greater value to our clients,” he said.
YY Group plans to roll out the integration in three phases:
- Operational Alignment: Streamlining standard procedures across both companies.
- Technology Integration: Embedding UFS systems into YY’s digital infrastructure, including IoT tools and smart sensors.
- Commercial Synergy: Offering comprehensive service packages to current and new clients.
Driving revenue and regional expansion
The deal is expected to contribute US$35 million in revenue over the next three years, accelerating YY Group’s expansion strategy in Southeast Asia and beyond.
Headquartered in Singapore, the company also operates in Malaysia, with growing footprints in Europe and the Middle East.
YY Group’s entry into the security market comes amid steady sector growth, projected at a CAGR of 5.27% through 2028, reaching an estimated US$114.7 billion globally.
The company previously acquired Property Facility Services Pte. Ltd. (PFS), YY Circle Hong Kong, and is set to purchase YY Circle Thailand.
