Accrelist acquires 28.53% stake in MClean Technologies

The company acquired the stake for $2.57m.

Accrelist Crowdfunding Pte. Ltd. has entered into a sale and purchase agreement with MClean Technologies Berhad to acquire 28.53% of the latter’s issued and paid-up share capital.

In a bourse filing, parent company Accrelist Ltd. said the total consideration for the sale of shares is $2.57m or $0.05 (RM0.16) apiece.

Accrelist will fund the acquisition in cash.

Singapore-based MClean Technologies provides cleaning solutions for electronics and semiconductor products.

It offers surface treatment, precision cleaning, sterile, and packaging services. It operates in Malaysia, Singapore, and Thailand.

Accrelist Executive Chairman and Managing Director Terence Tea welcomed the acquisition, adding that the company sees potential in expanding into hard disk drive solutions, especially in Malaysia and Thailand, where demand is high.

The equity stake acquisition will likely generate synergies between Jubilee, a subsidiary of Accrelist, and MClean Technologies, enabling them to leverage strengths for cross-selling and expanding their customer reach.

RM1 = S$0.29

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