Timah Partners has announced that it has secured a S$60 million (about $47 million) debt facility to accelerate its acquisition of small and medium-sized enterprises (SMEs) in Singapore.
UOB, RHB Bank, and Genesis Alternative Ventures are participating in the facility, while Kroll Agency and Trustee Services will serve as the facility and security agent, the evergreen company said.
The delayed-drawdown facility gives Timah a pre-agreed framework to finance multiple acquisitions over time, allowing it to move more quickly and provide greater deal certainty to business owners.
The facility is designed to support acquisitions of companies with strong and consistent cash flows, including asset-light businesses that may find it difficult to obtain traditional financing.
“This umbrella facility lets us run a consistent, high-certainty, and smooth acquisition process with excellent partners, and move swiftly when it matters,” said Timah founder and CEO Dennis Chua.
Timah acquires and operates established business-to-business companies whose founders are seeking successors. Its permanent ownership model is positioned as an alternative to traditional private equity, which typically seeks to exit investments within a fixed period.
The company said it also runs a CEO Succession Programme to prepare mid-career professionals to lead the businesses it acquires.
“Our partnership with Timah Partners will help catalyse greater resilience, supporting the renewal and sustained growth of strong local enterprises,” said Eric Lian, UOB’s head of group commercial banking.
In July, Timah Partners launched a specialised waste management platform to consolidate Singapore’s fragmented industry. As the platform’s first acquisition, Timah signed an agreement to buy an established operator in the sector.
The deal marked the first step in its long-term buy-and-build strategy targeting founder-owned waste management businesses facing succession challenges.
Singapore’s specialised waste management industry generates almost S$400 million in annual revenue, according to Timah.
The sector is largely made up of small, owner-operated companies, many of which face succession issues as their founders approach retirement.
In June last year, Timah Partners raised $50 million in Series A funding to acquire and operate recurring revenue-generating SMEs across Southeast Asia.
