Private equity firm Navis Capital Partners has made a substantial equity investment into Malaysia scaffolding and construction equipment solutions provider Dscaff to enable the company to grow its capacity in the industrial services sector organically and through acquisitions.
Following the financial investment, Navis will be a major shareholder in Dscaff Group, the company said in a statement dated August 7.
Navis Capital had invested an undisclosed sum in Dscaff in early 2018. The initial investment was conducted via a redeemable, convertible debt instrument, a Navis spokesperson had told us at that time.
Dscaff has been providing scaffolding contracting services to major projects in both Malaysia and Indonesia including the Euro 5 in Petronas Penapisan Melaka, Petronas Chemical MTBE in Gebeng and the Jakarta Toll Road for PT Jaya Konstruksi, it said in the statement.
Navis Capital, which has made nearly 80 controlling investments in the region, focuses on sectors such as food processing, casual dining, FMCG, industrial services, outdoor advertising, auto rentals, consultancy and professional services, amongst others.
Navis Capital manages around $5 billion in private equity capital across investments in Asian countries. The firm is currently raising its eighth vehicle, which has a $1.9 billion hard cap, we had previously reported.
Earlier this month, Navis Capital Partners sold its entire stake in Malaysian IT firm Strateq to a unit of Singapore-listed telecommunications company StarHub.
It was reported in February, Navis Capital and the other owner of Malaysian private tertiary education group SEG International Bhd. were considering selling their stakes. In January, quoting sources, DealStreetAsia reported that Navis Capital was exploring a sale of its stake in Indonesian medical equipment distributor PT Tawada Healthcare.
In 2019, Navis invested in Vietnam’s private education platform Thanh Thanh Chong Education JSC as well as Thailand’s food processing company Srithai Daily Foods.