PE firm ShawKwei buys majority stake in Singapore-based Gaylin for $50m

Asia-focused PE fund manager ShawKewi Asia Value Fund through its wholly-owned unit PeakBayoi has acquired a majority stake in Singapore-based oil industry supplier Gaylin Holdings for S$68 million ($50 million).

Gaylin has issued 1.36 billion new ordinary shares equivalent to a 75.64 per cent stake in it to PeakBayoi at S$0.05 each aggregating to $68 million, the company said in a statement.

It will utilize the proceeds for general working purpose and to strengthen its capital base.

Founded in 1974, Gaylin is one of the largest Singapore-based multi-disciplinary specialist providers of rigging and lifting solutions to the global oil and gas (O&G) industry. The Singapore-headquartered company has offices, warehouses and manufacturing facilities in Malaysia, Vietnam, China and Korea.

In April, Gaylin Asia Pte Ltd announced that it will acquire Rig Marine Holdings FZC.

Asia-focused PE fund manager ShawKwei & Partners, whose interests are in the manufacturing and service sectors in April had said that it is targeting to raise $800 million for its fourth fund. It helps companies expand operations, acquire other companies, and raise capital from banks as well as initial public offerings.

ShawKwei was started in 1999, and actively invests in the sectors like oil & gas, solar power, automotive, medical, maritime services and engineering. The investment firm has offices in Singapore and Hong Kong.

Some of its recorded investments include in the companies like Chosen Holdings Ltd, a manufacturer of plastic related products; Amos Marine, a shipping supplies and engineering services provider and Schmid, a German automation and production equipment manufacturer.

Early this year, it sold its portfolio company YongLe Tape, a producer of specialty tapes and related products, to Avery Dennison for $190 million.

Also Read:

Asia-focused ShawKwei & Partners targets $800m for fourth fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.