Singapore-based mid-market private equity (PE) firm Tower Capital Asia on Tuesday announced an unspecified investment in specialty chemicals distributor WWRC Holding.
Founded as Fu Yuan Enterprise by CJ Teng in 1980, WWRC provides product sourcing, logistics, distribution, R&D and technical support services to businesses in industries such as oil and gas, plastics, and personal care. With a presence in eight countries and 12 cities, it counts Singapore, Malaysia, Indonesia, Taiwan and Vietnam as its key markets.
“As a leading player in the specialty chemicals space with an established track record, WWRC is primed to leverage its extensive experience, regional footprint and ambition to scale up,” said TCA founder and CEO Danny Koh in a prepared statement.
WWRC’s filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) show that the deal, which gives TCA a significant stake in the chemicals firm, comprises a mix of primary and secondary transactions.