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Business Times
an hour ago
- Business
- Business Times
PEC delists from SGX on Jun 19 after US$165 million acquisition by Liberty Energy Solutions
[SINGAPORE] Engineering company PEC has been delisted from the mainboard of the Singapore Exchange (SGX) as at 9 am on Thursday (Jun 19) after Alliance Energy Services' offer to privatise the group via a scheme arrangement received shareholder approval in May. The scheme consideration, which amounts to S$0.84 per share and comprises a payment of S$0.64 per share in cash and S$0.20 per share through a special cash dividend, became effective and binding on Jun 6. A bourse filing listed the scheme's payment date as Jun 17. The offeror, Alliance Energy Services, is a holding company that is majority-owned by Liberty Energy Solutions, an energy engineering solutions services provider that operates across North America, Asia and the Middle East. PEC's chairman Edna Ko and chief executive officer Robert Dompeling have minority stakes in the offeror. With the acquisition of PEC complete at a transaction value of US$165 million, Liberty Energy holds an 85 per cent stake in the company. Liberty Energy is 97 per cent owned by ShawKwei & Partners, a private-equity fund manager that invests in industrial and service companies with revenues between US$50 million and US$800 million across Asia, Europe and the US. ShawKwei has funds under management of around US$1 billion and its Singapore portfolio now comprises PEC and precision manufacturing firm Beyonics. Moving forward, PEC's operational capabilities will be integrated with those of two Liberty Energy subsidiaries, said ShawKwei in a Thursday press statement. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The companies are CR3 Group, a Bangkok-headquartered energy engineering solutions company, and ZymeFlow, a chemical decontamination technologies company based in Houston, Texas. Both are wholly owned by Liberty Energy. The acquisition will accelerate Liberty Energy's strategic development as a global platform for energy services, ShawKwei added. Kyle Shaw, founder and managing partner of ShawKwei and chairman of Liberty Energy, noted that PEC is well-established in Singapore, where it has a 'sizeable' market share. This would enable it to help bring ZymeFlow's decontamination products and services to Singapore and expand the Houston-headquartered company's presence in the city-state, he said. Given that Singapore offers connectivity to energy industries in South-east Asia and countries in the region such as India, a 'high-growth' market for energy services, PEC could leverage CR3's well-established client base in the South Asian nation to take its products and services there, which will benefit both companies, Shaw added. There is also opportunity for technological competence and know-how from Singapore to be exported to 'high-growth' markets for energy services such as the Middle East, where PEC already has a presence, given that Singapore's energy services industry is a relatively mature market, he said. Management of PEC will continue under the leadership of Ko and Dompeling as they join Liberty Energy, the private-equity investor noted. The offer Citing PEC's historically low trading liquidity, the offeror said in February that the acquisition presents shareholders a 'compelling opportunity' to unlock value and realise their investment in the company's shares at a premium over historical market prices. This comes as the scheme reflects a 12.8 per cent premium over the counter's last transacted price of S$0.745 on its last undisturbed trading day on Nov 26, 2024, before the company disclosed that a third party had approached it about a potential share deal on Nov 27, 2024. The last day of trading for PEC shares was May 27 as the counter was suspended on May 28 with effect from 9 am.
Business Times
10 hours ago
- Business
- Business Times
PEC delists from SGX on Jun 19 in US$165 million acquisition by Liberty Energy Solutions
[SINGAPORE] Engineering company PEC has been delisted from the mainboard of the Singapore Exchange (SGX) as at 9 am on Thursday (Jun 19) after Alliance Energy Services' offer to privatise the group via a scheme arrangement received shareholder approval in May. The scheme consideration, which amounts to S$0.84 and comprises a payment of S$0.64 per share in cash and S$0.20 per share through a special cash dividend, became effective and binding on Jun 6. A bourse filing listed the scheme's payment date as Jun 17. The offeror, Alliance Energy Services, is a holding company majority owned by Liberty Energy Solutions, an energy engineering solutions and chemical decontamination services provider. PEC's chairman Edna Ko and CEO Robert Dompeling have minority stakes in the offeror. With the acquisition of PEC complete at a transaction value of US$165 million, PEC's operational capabilities will be integrated with Liberty Energy's subsidiaries, said the controlling shareholder of Liberty Energy, private equity investor ShawKwei, on Thursday. The two subsidiaries are energy engineering solutions company CR3 Group and chemical decontamination technologies company ZymeFlow. This will accelerate the Liberty Energy's strategic development as a global platform for energy services, ShawKwei said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Management of PEC will continue under the leadership of Ko and Dompeling as they join Liberty Energy, the private equity investor added. The offer Citing PEC's historically low trading liquidity, the offeror said in February that the acquisition presents shareholders a 'compelling opportunity' to unlock value and realise their investment in the company's shares at a premium over historical market prices. This comes as the scheme reflects a 12.8 per cent premium over the counter's last transacted price of S$0.745 on its last undisturbed trading day on Nov 26, 2024, before the company disclosed that a third party had approached it about a potential share deal on Nov 27, 2024. The last day of trading for PEC shares was May 27 as the counter was suspended on May 28 with effect from 9 am.
Cision Canada
12 hours ago
- Business
- Cision Canada
ShawKwei & Partners Completes Acquisition and Delisting of PEC Ltd
SINGAPORE, June 18, 2025 /CNW/ -- ShawKwei & Partners ("ShawKwei"), an Asian private equity industrial investor, has completed the US$165 million acquisition and final delisting of PEC Ltd ("PEC") from the Singapore Exchange. The PEC acquisition is by Liberty Energy Solutions Ltd ("Liberty Energy"), an investment platform established under the control of ShawKwei. Founded in 1982 and headquartered in Singapore, PEC is a well-established provider of maintenance and engineering, procurement, and construction (EPC) services for the oil & gas and petrochemical industries. PEC reported revenue of US$305 million, net profit of US$12 million, and a net cash position of US$110 million for the twelve months ending 31 December 2024. Please visit for more information on PEC. Liberty Energy currently has two other wholly owned subsidiaries with CR3 Group ("CR3"), a leading energy engineering solutions leader, and ZymeFlow LLC ("ZymeFlow"), an innovator in chemical decontamination technologies. This PEC acquisition accelerates Liberty Energy's strategic development as a global platform with best-in-class energy services. The integration of PEC's operational capabilities with Liberty Energy's existing subsidiaries establishes the sector's preeminent provider of comprehensive energy solutions across oil & gas and petrochemical industries with major operational offices in Singapore, Houston, Abu Dhabi, and Mumbai. Kyle Shaw, Founder and Managing Partner of ShawKwei and Chairman of Liberty Energy, stated: "This addition of PEC's operational expertise to Liberty Energy strengthens CR3's engineering and manufacturing capabilities, broadens the group's geographic spread of customers, and creates more opportunities for ZymeFlow's proprietary decontamination technology. There are tremendous opportunities with the changing energy industry and Liberty Energy is now best positioned to serve our global clients with world-class products and services." PEC management will continue under the successful leadership of Chair Edna Ko and CEO Robert Dompeling as they now join Liberty Energy in meeting today's global energy service, product, and solution demands. About ShawKwei & Partners ShawKwei & Partners is a private equity fund manager investing in industrial and service companies with revenues between US$50-800 million operating across Asia, Europe, and the USA. After investing, ShawKwei & Partners helps improve a business by partnering with management to identify and realize sustainable performance improvements in sales growth, margin expansion, and capital efficiency. Kyle Shaw established ShawKwei & Partners in Hong Kong in 1998 after previously managing Asian private equity funds for the Tudor Investment Group and Security Pacific National Bank. Please visit About Liberty Energy Solutions Liberty Energy Solutions is a global leader in energy engineering and proprietary technologies, serving oil & gas and petrochemical clients across North America, Asia, and the Middle East. With 200+ patents and 200+ annual plant turnarounds for industry leaders including Reliance, SPRC, Neste, Chevron, Nayara, Petronas, BP, and Shell, Liberty Energy through its subsidiaries delivers end-to-end solutions from decontamination to operational optimization, driving sustainable value across the energy sector. Please visit About CR3 Pte Ltd Founded in 1991 in Singapore, CR3 provides energy engineering solutions across 18 Asian countries, India, and the Middle East from operational bases in Singapore, Thailand, India, Malaysia, and the UAE. CR3 is well known for handling mission-critical reactor catalysts used in refining, chemical, fertilizer, and heavy industrial plants for customers in asset-intensive industries such as energy production, chemical processing, and power generation. CR3 also offers equipment and plant maintenance, pipeline and process services, shutdowns and turnarounds, and engineering, procurement, and construction (EPC) solutions. Backed by a loyal workforce, strong customer relationships, and a wide network of technical partners, CR3 has built a reputation for excellence and is well-positioned to support the energy sector's transition to a lower-carbon future. Please visit About ZymeFlow LLC Headquartered in Houston, Texas, ZymeFlow has over 35 years of experience pioneering innovative chemical decontamination solutions that are more effective, more environmentally friendly, and less wasteful than alternative methods. As an industry leader, ZymeFlow continues to develop proprietary chemistries and application technologies such as ZymeFlow® Pro, Rezyd-HP®, CatZyme®, and ZymeFlow® LNG. Its diverse, 100% biodegradable product line helps clients meet sustainability goals, reduce downtime, and lower costs across refining, petrochemical, and LNG facilities onshore and offshore in over 55 countries. Supported by one of the most experienced operations teams in the industry, ZymeFlow's patented, eco-friendly solutions optimize facility performance, reduce carbon footprints, and drive green initiatives. Please visit
