A-Gas acquires Singapore refrigerants business
18th February 2019UK: A-Gas has acquired Singapore-based refrigerant recovery, reclamation and sales company VEMAC Services.
Established in 1978, claims to have been the first company in Singapore to offer used refrigerants recovery and reclamation services. Its refrigerant reclamation facility is recognised and supported by Singapore’s National Environmental Agency (NEA) and reclaims used refrigerants to exceed the standard of AHRI-700. It employs around 25 people.
A-Gas Group CEO Andrew Ambrose described the acquisition as an exciting addition to the company’s portfolio: “VEMAC will be an ideal platform for our further expansion into the south east Asian markets.”
“This is a great opportunity for VEMAC to expand further afield and to utilise A-Gas’ expertise and proven track record in the global refrigerants market,” said VEMAC MD Kenny Huang.
This is the fourth acquisition of a refrigerants business by A-Gas since the mid-2017 investment in the company by private equity firm KKR. A-Gas bought the Netherlands-based reclamation business BTC in 2017 and in 2018 acquired the leading supplier of refrigerants to the European automotive sector Arthur Friedrichs Kältemittel. The company also bought USA-based refrigerant reclamation specialist Diversified Pure Chem in 2017 as part of a wider global growth plan.
