Liberty Energy Solutions Completes $160 Million Acquisition of PEC Ltd.

On May 6, 2025, it was announced that PEC Ltd has received shareholder approval for its acquisition by Liberty Energy Solutions for a total of USD 160 million. This transaction, which entails the complete acquisition of PEC shares via a Scheme of Arrangement, was sanctioned during an Extraordinary General Meeting held in Singapore. Following favorable verdicts from the High Court of Singapore, PEC will be delisted from the Singapore Stock Exchange, further solidifying Liberty Energy's stake in the global energy market.

Liberty Energy Solutions, the majority owner of the acquiring entity, Alliance Energy Services, combines advanced research and development capabilities with extensive industry experience across diverse markets. With operations spanning the US, Canada, Singapore, Thailand, Malaysia, India, and the Middle East, Liberty Energy stands out with over 200 patents and an impressive record of executing more than 200 plant turnarounds annually for major clients including ExxonMobil and Shell.

Founded in 1982, PEC is esteemed for its extensive maintenance and integrated EPC (engineering, procurement, construction) services within the oil, gas, petrochemical, and pharmaceutical sectors. With a reported revenue of SGD 391 million and a net profit of SGD 15 million for the year leading up to December 31, 2024, PEC boasts a resilient financial position demonstrated by its net cash reserves of SGD 142 million. The company aims to continue operating under the seasoned leadership of Chair Edna Ko and CEO Robert Dompeling, while closely collaborating with Liberty Energy to enhance its offerings.

Upon the merger, Kyle Shaw, the Chair of Liberty Energy and managing partner of ShawKwei Partners, expressed his enthusiasm, stating, "PEC’s strong management, technical prowess, and distinguished reputation for service excellence align seamlessly with our strategy of establishing a pioneering platform for the best energy solutions on a global scale."

The strategic integration of PEC into Liberty Energy's portfolio enhances their capacity to deliver superior engineering services and products. This partnership not only expands Liberty’s reach but also fortifies its commitment to offering reliable, comprehensive energy solutions to a broader customer base. With more than four decades of operational excellence, PEC is set to contribute significantly to Liberty Energy's growth, particularly in regions including Asia and the Middle East.

In addition to traditional energy solutions, Liberty’s subsidiaries include CR3 Pte Ltd, recognized for energy efficiency and engineering prowess, and ZymeFlow LLC, celebrated for environmentally friendly chemical cleaning technologies. These subsidiaries accentuate Liberty Energy’s objective to pivot towards sustainable energy practices.

Looking ahead, the newly formed alliance positions Liberty Energy as a formidable player in the energy industry, dedicated to driving innovation and operational excellence as it navigates the evolving landscape of global energy demands.