Wayne Burt Capital is a deep value fund with assets of over $1 billion and with interests and investments in the oil & gas, petrochemicals and aerospace manufacturing sectors. It is backed by US & European PE Funds.
Wayne Burt Capital targets large asset-based businesses and acquires them at significantly lower value, and through effective asset management and financial restructuring unlocks the value from these assets. It has strategic relationships with aerospace companies such as GE-Aviation, Pratt & Whitney and Rolls Royce; oil & gas companies such as Halliburton, Schlumberger, Baker Hughes, Chevron, Cameron, etc.; and petrochemical companies like Shell, Chevron, Mitsui Chemicals and UNIVAR & Sojitz.
Addressing the media in Chennai, Mr. T.G.S. Mahesh, President & CEO of Wayne Burt Capital, said the company and its associates acquired Cetex Petrochemicals Ltd. in 2013. Cetex is an ISO 9001:2008, ISO 14001:2004 and BS OHSAS 18001:2007 certified organization set up in 1990 at Manali, the petrochemical zone of Chennai, by the RPG Group. The state-of-the-art manufacturing facility was built with technology from Edeleanu Gmbh of Germany and is the only company in South-East Asia manufacturing methyl ethyl ketone (MEK) and secondary butyl alcohol (SBA), a versatile petrochemical solvent.
Post-acquisition by Wayne Burt Capital, Cetex was transformed from a single product into a multi-product manufacturing company. Its management team comprises technocrats from IITs & IIMs headed by Mr. Ilanahai, Managing Director. Cetex, a professionally managed company, has an advanced R&D facility headed by Mr. R. Kannan, Director - Technology, which has developed several new products such as SBA, citronellol, degreasor, cinnamic alcohol, cetol, phenyl propanol, oximone, etc. SBA is an intermediate product in the MEK process having versatile applications in the pharma and specialty chemicals segment.
Mr. Mahesh further said Cetex is also expanding its presence in the aroma & fine chemicals segment. Its major products find versatile applications in the manufacture of paints, printing inks, adhesives, coatings, aroma chemicals and speciality intermediates in pharma & lube additive industries.
Cetex has already signed up strategic partnership arrangements with Chevron Oronite, Singapore & USA, and Mitsui Chemicals and Sojith, both of Japan, for marketing and off-taking of 50 per cent of the total production for the export market, he added.