Liberty Energy, which is majority-owned by ShawKwei & Partners, has announced that its holding company, Alliance Energy, will acquire Singapore-listed PEC for $160 million. Following the acquisition, PEC will be delisted from the Singapore Exchange (SGX).
According to a company announcement, this transaction was approved through a scheme of Arrangement at the Extraordinary General Meeting held in Singapore.
Welcoming PEC into Liberty Energy, Kyle Shaw, Chair of Liberty Energy and founder and managing partner of ShawKwei said that PEC’s strong management team, technical expertise, and reputation for reliability and service excellence align well with their strategy of building a global platform for best-in-class energy solutions.
PEC will continue to operate under the leadership of Chair Edna Ko and CEO Robert Dompeling, and will work closely with Liberty Energy to expand its range of engineering services and products, delivering greater value to a broader group of customers.
Liberty Energy provides energy engineering solutions and proprietary products to oil & gas refineries and petrochemical facilities around the world. Its operations span the US, Canada, Singapore, Thailand, Malaysia, India, and the Middle East.
Liberty Energy combines advanced R&D capabilities with extensive field experience. The company holds over 200 patents and each year performs more than 200 plant turnarounds for major global clients, including ExxonMobil, Reliance, SPRC, Neste, Chevron, Nayara, Petronas, BP, and Shell.
Liberty Energy is the parent of two wholly owned subsidiaries -CR3 Pte Ltd, a Singapore-based leader in energy efficiency, engineering excellence, and sustainable solutions, and ZymeFlow LLC, a Houston-based leader in environmentally friendly chemical cleaning and decontamination solutions.
The acquisition of PEC by Liberty Energy adds to a growing trend of Singapore-listed companies opting to go private amid market conditions that challenge public valuations and trading liquidity.
Early this year, Econ Healthcare (Asia), a Singapore-listed nursing home operator, received a take-private offer from vehicles managed by private equity major TPG in a deal valued at S$88 million ($67 million). If completed, the Econ deal will further underscore the shift by strategic and private equity investors toward unlocking long-term value through delistings and operational transformation, as public markets continue to present limited upside for certain sectors and company sizes.
