ShawKwei completes duo of US acquisitions
Asia-focused industrials specialist ShawKwei & Partners has completed two investments in the US spanning packaging manufacturing and environmental chemicals.
ShawKwei has acquired CTL Packaging USA, which makes plastic tubes for the beauty and health industry, as well as ZymeFlow, a decontamination and waste-reducing technology provider for the petrochemicals industry that supports transitions to cleaner operations. Both transactions are 100% acquisitions.
Financial terms were not disclosed. ShawKwei targets companies with revenues between USD 50m to USD 800m. The private equity firm is experienced in helping global operators expand into Asia. This is core to the plan with CTL. ZymeFlow is expected to benefit from Asia portfolio synergies.
CTL will be merged with Icons Beauty, a Singapore-based sustainability-focused manufacturing and packaging design company that ShawKwei set up as a roll-up platform. Last year, Rauxel, an Australian operator in this space was added to the platform.
Icons leverages a supplier network across China and Taiwan and recently started producing plastic packaging products in Thailand, further diversifying its supply chain. Kyle Shaw, founder and managing partner of ShawKwei, noted that the addition of CTL would help accelerate time-to-market for new products from customers in the US.
Meanwhile, ZymeFlow has been positioned as complementary to ShawKwei’s existing investment in The CR3 Group, a Thailand-headquartered energy engineering services provider active across India, Southeast Asia, and United Arab Emirates. Tom McQueary, president of ZymeFlow, said ShawKwei was committed to expanding ZymeFlow overseas.
"ZymeFlow has an outstanding management team with an excellent reputation for its well-developed line of natural organic products that are both safe for the environment and highly cost-efficient for customers,” Shaw said in a statement.
“ZymeFlow products and services help reduce the carbon footprint and drive green initiatives by providing customers with more efficient facility operations, lower energy consumption, and the elimination of costly unscheduled or delayed maintenance.”
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