Asian private equity firm Shaw Kwei & Partners has acquired energy engineering company CR Asia for $101m.
Founded in 1991, CR Asia provides core reactors to use in energy refining, chemicals and fertilizers and other heavy industrial processing facilities. CR Asia now runs in 18 Asian countries from its permanent bases in Singapore, Thailand, India and Malaysia serving energy companies including Shell, Reliance and Neste.
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. As 2021 marks the 30th anniversary of the CR Asia Group, we reflect back with pride at our past achievements and we look forward with confidence in contributing to de-carbonization and enhancing energy efficiency for our customers.”
Shaw Kwei bought into cosmetic, beauty and skin care packaging company International Cosmetic Suppliers last year.
The firm reportedly reached a final close for its fourth pan-Asia investment vehicle, Asia Value Fund 2017, with $812 million in capital commitments.
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