Specialty chemical and gases management expert A-Gas has acquired Singapore-based refrigerant company VEMAC Services.
Established in 1978, VEMAC is a market leader in the recovery, reclamation and sales of refrigerants in Singapore and neighbouring countries.
Andrew Ambrose, A-Gas CEO, said, “This is an exciting addition to our portfolio and will enable us to further strengthen our global presence in refrigerant recovery and reclamation. VEMAC will be an ideal platform for our further expansion into the South East Asian markets.”
“We are looking forward to investing and growing our environmental services offering across these markets with the support of the VEMAC team.”
VEMAC Managing Director Kenny Huang added, “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.”
“Our vision and values are a close fit with A-Gas and we are looking forward to exciting times ahead working within the newly expanded team.”
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 Purechem in 2017 as part of a wider global growth plan.