KUALA LUMPUR, Nov 11 (Bernama) -- Asian private equity firm ShawKwei & Partners (ShawKwei) has announced the US$101 million acquisition of CR Asia Pte Ltd (Singapore) and all its subsidiaries, together known as the CR Asia Group. (US$1 = RM4.160)
With a 30-year history, the CR Asia Group is a leading energy engineering solutions business operating across Asia servicing world-class customers such as Shell, Reliance, and Neste.
ShawKwei has acquired the CR Asia Group from Joh. Mourik & Co. Holding B.V. of the Netherlands, Arabian Pipeline & Services Co. Ltd. (Anabeeb) of Saudi Arabia, and other minority shareholders.
Founded in 1991 in Singapore, the CR Asia Group today serves customers in 18 Asian countries from its permanent bases in Singapore, Thailand, India, and Malaysia.
These customers own plants and facilities used in processing energy and chemicals used in manufacturing plastics, textiles, cosmetics, electronics, paints, and packaging products.
The CR Asia Group is well known in charging and discharging mission-critical catalysts, which are the core reactors used in energy refining, chemicals & fertilisers, and other heavy industrial processing facilities.
In a statement, ShawKwei Founder and Managing Partner, Kyle Shaw said: “The CR Asia Group has a reputation for excellence in energy engineering solutions across Asia and is well positioned for the energy transition to a lower carbon economy.
“The CR Asia Group is supported by loyal employees, long term customer relationships, and an extensive network of technical partners. We are excited to partner with the entire CR Asia Group team and invest in organisational, operational, and automation technology initiatives to capitalise on the lower carbon shift.”
Meanwhile, Mark Stansfield, Managing Director of the CR Asia Group, said: “Our management team welcomes ShawKwei as we further help our customers in lowering carbon emissions while also maintaining the security of energy, food, and industrial supply chains.”
ShawKwei & Partners has offices in Hong Kong, Singapore, Shanghai and San Francisco.
-- BERNAMA
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