Singapore — Singapore-based holding company Timah Partners has secured a S$60 million umbrella debt facility to support the acquisition of small and medium-sized enterprises (SMEs) in Singapore.
The facility was announced on the 19th of August and includes United Overseas Bank Limited (UOB), RHB Bank and Genesis Alternative Ventures as facility partners. Kroll Agency and Trustee Services will act as the facility and security agent.
Structured as an umbrella delayed-drawdown facility, the financing provides a pre-agreed framework that Timah can use to fund multiple SME acquisitions over time. The company said the structure is intended to provide greater certainty and consistency when executing acquisitions.
“Succession is a big life decision for a founder. It’s not just about price. What founders prefer is clarity, a straightforward and simple process, partners they can trust and are proud to be associated with, and confidence that their business and people will be taken care of,” said Dennis Chua, Founder and CEO of Timah Partners.
“This umbrella facility lets us run a consistent, high-certainty, and smooth acquisition process with excellent partners, and move swiftly when it matters. It’s also built for the kind of businesses we focus on: resilient cash-flowing SMEs that are often asset-light. Being able to finance these types of businesses reliably gives Timah a real advantage in delivering on our mission for SME succession in Singapore,” he continued.
Timah said its acquisition strategy comes amid growing succession challenges among Singapore’s SME founders, many of whom are approaching retirement without established succession plans.
The company operates as an evergreen holding company, meaning it intends to hold acquired businesses over the long term rather than pursuing a conventional private equity exit strategy. Timah said its model is focused on maintaining business continuity and preserving the legacy of acquired companies.
UOB said the financing reflects its continued focus on supporting SMEs across the region.
“Our commitment towards SMEs as the backbone of regional economies remains steadfast over the long term. As the operating environment evolves, we are focused on enabling SMEs to digitalise faster, stay connected and expand across borders with confidence. Our partnership with Timah Partners will help catalyse greater resilience, supporting the renewal and sustained growth of strong local enterprises,” said Eric Lian, Head of Group Commercial Banking at UOB.
RHB Bank also highlighted the role of succession planning in supporting businesses across generations.
“RHB Bank believes strongly in empowering SME founders to build enduring businesses that can thrive across generations. Timah Partners’ approach provides a thoughtful and structured pathway for founders to navigate succession while preserving the legacy and continuity of their enterprises,” said Serena Hong, Head of Commercial Banking, RHB Bank.
“We are pleased to support this innovative facility alongside like-minded financing partners, as it will help strengthen the next chapter of growth for high-quality local enterprises and reinforce the long-term resilience of Singapore’s SME ecosystem,” she continued.
Timah focuses on acquiring and operating B2B businesses with recurring revenues and essential services that face succession challenges. Its CEO Succession Programme is designed to develop mid-career professionals into SME leaders.
The company said it expects the relationships with its lending partners to extend beyond acquisition financing to include broader financing and banking services for businesses within its portfolio. These could also include wealth-planning support for founders as their businesses develop.
