Liberty Energy Solutions to Acquire PEC Ltd. for US$160 Million

Liberty Energy Solutions to Acquire PEC Ltd. for US$160 Million

Shareholders of PEC Ltd (SGX: IX2) recently approved a significant transaction that heralds a new chapter for the company. The deal, valued at US$160 million, involves a complete acquisition of PEC by Alliance Energy Services Pte Ltd, a subsidiary majority owned by Liberty Energy Solutions Ltd. The decision was made during an Extraordinary General Meeting held in Singapore.

The Acquisition Process

This acquisition is set to proceed following the approval granted by the High Court of Singapore. After the court's sanction, all PEC shares will transition to Alliance Energy. Consequently, PEC will be delisted from the Singapore Stock Exchange. This strategic move is designed to enhance the operational capabilities and service offerings of both companies.

About Liberty Energy Solutions Ltd

Liberty Energy is renowned for providing advanced energy engineering solutions and proprietary products tailored for oil and gas refineries as well as petrochemical facilities on a global scale. With a strong presence in several countries, including the US, Canada, and Southeast Asia, the company excels in combining cutting-edge research and development with ample field experience.

Liberty Energy boasts an impressive portfolio, holding over 200 patents and conducting more than 200 plant turnarounds annually for notable clients such as ExxonMobil, Chevron, and Shell. The firm operates through two main subsidiaries, namely CR3 Pte Ltd and ZymeFlow LLC, reinforcing its position within the energy sector.

PEC Ltd: A Trusted Name in the Industry

Founded in 1982 and located in Singapore, PEC is a respected provider of maintenance and integrated EPC (Engineering, Procurement, and Construction) services in various industries, including oil and gas, petrochemical, and pharmaceuticals. The company has reported substantial revenue and a robust net cash position, demonstrating its financial health and stability.

Kyle Shaw, the Chair of Liberty Energy, expressed strong enthusiasm about this acquisition, stating, "The strong management team at PEC, along with their technical expertise, aligns seamlessly with our strategy to create a global platform focused on top-tier energy solutions.” This partnership aims to enhance service range and product offerings, ultimately delivering more value to an expanded customer base.

Future Operations and Enhancements

Post-acquisition, PEC will continue operations under the established leadership of Chair Edna Ko and CEO Robert Dompeling. They will collaborate closely with Liberty Energy to unlock new opportunities and improve service delivery. The integration is expected to leverage PEC’s existing strengths while also enhancing the overarching capabilities of Liberty Energy.

With a profound history of operational excellence and robust customer ties across different regions, PEC is well-poised to contribute to Liberty Energy’s global vision. The combination of PEC's expertise and Liberty’s innovative approaches offers a promising future for energy solutions on a worldwide scale.

About ShawKwei & Partners

ShawKwei & Partners, the private equity fund manager that has significant stakes in Liberty Energy, specializes in investing in industrial and service companies. Their strategy focuses on fostering sustainable performance improvements in the businesses they invest in, doing so through strong collaboration with management teams.

Frequently Asked Questions

What is the value of the acquisition of PEC by Liberty Energy?

The acquisition is valued at US$160 million.

Who is the leading shareholder of Liberty Energy Solutions?

The controlling shareholder of Liberty Energy is ShawKwei & Partners.

What industries does PEC Ltd serve?

PEC Ltd serves the oil and gas, petrochemical, chemical terminals, and pharmaceutical industries.

Where is Liberty Energy Solutions headquartered?

Liberty Energy Solutions is headquartered in Singapore.

What emphasis does Liberty Energy Solutions place on sustainability?

Liberty Energy Solutions emphasizes eco-friendly and sustainable practices across its operations and service offerings.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

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