Southeast Asia is emerging as a major market for private equity play as mature startups, looking to scale at regional and global levels, catch investor interest. Know more from an eminent panel of speakers about the deal-making landscape of SE Asia’s fastest growing and distinct markets at the Asia PE-VC Summit 2016 on September 30 in Singapore.
By Tanu Pandey
As the PE market in SEA emerges from a bout of volatility, Navis Capital Partners expects to maintain a consistent investment size in 2016 at last year’s $500m mark, keeping an eye on consumer and healthcare sectors.
Total sale of WorldMark’s domestic and international operations realised over $300 million, said Navis, adding that key senior management have retained equity in the business and the transaction is expected to close in the third quarter this year.
Ekuinas’ total investment of RM39.9 million translated into an effective 25 per cent equity in a joint special purpose vehicle that controls 80 per cent of ACG. The divestment generated gross proceeds of RM61.8 million with a minimum IRR of 9 per cent and money multiple of 1.55 times of capital invested.
The move follows major global retailer expressing interested in buying the owner of smart casual brands like Tarocash, yd and Connor earlier this year, alongside another strategic suitor.
This comes right after announcing another healthcare deal, in which Navis invested into Indonesian medical device distributor PT Tawada Healthcare.
Tawada has served an increasing number of international, blue chip healthcare equipment manufacturers since 1999, which include Carestream, Siemens, Drager and Samsung.
Other investors who joined the round include Singapore-based lifestyle and healthcare investment holding company Symphony International Holdings Limited, and Chanintr Living, a Thai-based furniture retailer.
In March, WorldMark offloaded its consulting business, Sewells Group, to MSX International. The restructure is said to attract trade buyers for the business.
ISA’s customers include global casual and outdoor footwear brands such as Timberland, Clarks and Wolverine. It is also increasingly penetrating the military and “Made in USA” markets in North America.