Asian private equity firm ShawKwei & Partners has acquired two US-based companies, ZymeFlow and its related group of companies (ZymeFlow) and CTL Packaging USA, according to an announcement.
Founded over 35 years ago, ZymeFlow has pioneered innovative chemical decontamination solutions that are more effective, environmentally friendly, and less wasteful than alternatives.
ShawKwei partnered with the management to purchase ZymeFlow from investors including controlling shareholder Thompson Street Capital Partners, a private equity fund manager based in St Louis, Missouri.
ZymeFlow acquisition is an excellent addition to ShawKwei’s investment strategy in the energy transition to a lower carbon economy. It complements ShawKwei’s 2021 investment into the CR3 Group, according to the announcement.
CTL, meanwhile, specialises in the production of plastic tubes for the beauty and health industry providing high-quality decorative capabilities and luxury finishing.
CTL is based in Charlotte, North Carolina, and was founded in 2011 as part of the CTLpack Group S.L.U., a Spanish tube manufacturer of beauty and health products.
ShawKwei purchased CTL from Kaizaharra Corporación Empresarial (KCE), a Basque Group investment and business corporation in Spain that continues to own the CTLpack Group S.L.U.
With the acquisition, CTL will merge into ShawKwei’s portfolio company ICONS Beauty Group (ICONS) headquartered in Singapore to broaden its capabilities with made-in-USA quality products.
ShawKwei & Partners is a private equity industrial investor with offices in Singapore, Hong Kong, San Francisco, and Shanghai.
The firm invests in industrial and service companies with revenues from $50-800 million operating across Asia, Europe, and the US.
In February of this year, DealStreetAsia reported that ShawKwei & Partners is “actively looking” for acquisitions, as it seeks to deploy the remaining $300 million from its fourth fund by the end of this year.
Kyle Shaw, the firm’s founder and managing partner, told DealStreetAsia in an interview that the firm is keen on assets in the energy and precision engineering sectors.
The fourth vehicle – Asia Value Fund 2017 – closed at $812 million in 2018.