<article>UK private equity firm <a href="http://www.act.is/content/Home.aspx" target="_blank">Actis </a>has exited its investment in Malaysian aluminium die-cast maker <a href="http://www.teknicast.com" target="_blank">Teknicast Sdn Bhd</a>, selling  it to India-based automobile component company <a href="http://www.amtek.com/" target="_blank">Amtek Auto</a> .</article>

UK private equity firm <a href="http://www.act.is/content/Home.aspx" target="_blank">Actis </a>has exited its investment in Malaysian aluminium die-cast maker <a href="http://www.teknicast.com" target="_blank">Teknicast Sdn Bhd</a>, selling  it to India-based automobile component company <a href="http://www.amtek.com/" target="_blank">Amtek Auto</a> .
The exit comes six years after Actis had bought out Teknicast, in September 2008. The amount of the sale, that was concluded last month, was not disclosed.
The PE firm had supported Teknicast managing director U Chang Eng to acquire the business from the company’s original Japanese owners. The management had invested alongside Actis in the new business.
In a statement on Actis’ website, the firm said that it had “invested heavily in machinery and human capital to facilitate business expansion , entrenched its customer base, professionalised management and improved corporate governance” since it bought stake in the company in 2008.
Teknicast &#8211; a Malaysian-based manufacturer of complex premium aluminium die-cast components for the flow control, textile machinery and specialists in industrial automation sectors &#8211; has a 30-year experience in exporting to global blue chip customers.
Among its customers are major companies in the fields of oil and gas, telecommunications, industrial automation, textile and automotive industries. Teknicast’s website says that it “aspires to be a supplier to the healthcare medical devices industry” as well.
One of Teknicast’s precision parts helped to regulate the flow of gas to the Olympic flame at Beijing’s Bird’s Nest stadium.
At the time of Actis’ buyout, Teknicast was generating a revenue of MYR140 million ($40 million), with almost 700 employees.
Teknicast has warehouses in the US, Europe, China and India.
Buyer Amtek Group is one of the largest automotive components manufacturers in India. Teknicast is Amtek’s first investment in the Southeast Asia region and is said to be complementary to its growth strategy in the non-automotive end markets.
Actis further said that “industrial related investments in emerging markets continue to be highly attractive to the firm and to the strategic investors, looking to expand their manufacturing footprint and access thriving growing markets.
Actis’ investments are focused in Africa, Asia and Latin America. It has a track record of successful management buyouts in Malaysia, such as its 2004 $100 million buyout in <a href="http://www.wipro-unza.com/" target="_blank">Unza Holdings Ltd</a>, which it divested in 2007 to India’s <a href="http://www.wipro.com/" target="_blank">Wipro Ltd </a>in 2007 for $246 million after helping the personal care business expand regionally.
In 2013, Actis also completed the buyout of aluminium form-work designer <a href="http://www.mfeformwork.com/" target="_blank">Mivan Far East</a> for $75 million. It is now guiding the company’s expansion into the Indian market.
In other markets, one of Actis’ largest deals was the purchase of electrical business <a href="http://www.alstom.com/south-africa/" target="_blank">Alstom South Africa</a> for $700 million in 2008.

Actis sells Teknicast to India's Amtek

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Actis sells Teknicast to India's Amtek

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