Shaw Kwei merges precision parts makers Beyonics and Chosen

The combined entity, which will adopt the Beyonics name, will have 1.4 million square feet across 14 factories located in Singapore, China and Malaysia, with 4,800 staff and $250 million in group sales turnover.

Each of Beyonics and Chosen serve multinational customers in medical, automotive and industrial business sectors. After the merger, the group will provide one-stop precision engineering services, including metal stamping, mold design and fabrication, plastic injection molding, aluminum die casting and machining, electronics sub-assembly and complete product manufacturing.

Beyonics and Chosen are owned by Shaw Kwei through its third Asia-focused fund, which closed in 2011.

The GP privatized Beyonics - which was then listed in Singapore - in February 2012 in a deal worth $115 million. The company initially focused on providing electronic manufacturing services, but Shaw Kwei re-positioned it as a precision manufacturer, pursuing lower volumes but higher margins.

In December 2015, Chosen was privatized and delisted from the Singapore bourse in a transaction worth $51 million.

"Singapore is an ideal headquarters for precision engineering parts, and Shaw Kwei will continue to look for further acquisitions in the precision engineering sector," Kyle Shaw, founder and managing director of Shaw Kwei, said in a statement.

Shaw Kwei invests in middle-market companies with operations in Asia, chiefly in the industrial, manufacturing and services sectors. The firm was established in 1999 and has offices in Hong Kong and Singapore.

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• Topics
• Southeast Asia
• Greater China
• Technology
• Buyouts
• Singapore
• China
• Malaysia
• manufacturing
• Technology