Kuok Maritime Group has acquired Singapore-based McPEC Marine & Offshore Engineering, a company best known for fabricating complex module systems for floating, production, storage and offloading units and offshore structures.
The organisation said the deal adds new capabilities and solutions Kuok Maritime’s portfolio, which includes dry bulk shipping company Pacific Carriers, offshore vessel operator PACC Offshore Services (POSH), tugboat operator Pacific Workboats and shipyard group PaxOcean.
Describing McPEC as “a leading provider of integrated and turnkey solutions for marine, offshore, energy, market in engineering, procurement, construction, and commissioning”, Kuok Maritime managing director and CEO Low Soon Teck said: “Our ambition is to provide integrated and sustainable maritime solutions to our clients. This acquisition marks a major milestone for our group.”
McPEC, which has a fabrication yard in Singapore, has been collaborating with PaxOcean since 2019. As a subsidiary of Kuok Maritime, it will gain access to a dedicated space used for module building in PaxOcean’s 570,000-square-metre shipyard on the Indonesian island of Batam.
McPEC will also be able to tap into 60-vessel POSH fleet, which includes semi-submersible accommodation and construction vessels and anchor handling tug supply vessels, the types of ships used for transporting and installing modules on offshore structures.
Jonathan Lee, managing director and founder at McPEC, said: “Being part of Kuok Maritime Group increases the product ranges, market coverage and capacity of our company. We will now be able to leverage on the larger Kuok Maritime Group network to access new markets and customers, and to tap on more resources and expertise to propel the business to new heights.”
Lee and managing director Lee Weijia will continue to lead McPEC after the acquisition.