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Actis backs Teknicast MBO in Malaysia01/09/2008. Source: AltAssets. 
 Emerging markets private equity investor Actis has backed the MBO of Teknicast, a Malaysian manufacturer of aluminium die-casting products. Actis has acquired the
business from the company's Japanese owner. Company management will invest alongside Actis.
Teknicast's products are mainly used in the international oil and gas industry in the US and Europe. The business has revenues of over RM140m ($40m), according to a statement. It employs 670 people at a manufacturing site near Kuala Lumpur.
Ching Lee, a director of Actis, said, 'Teknicast is a great example of a Malaysian company that has carved out a profitable niche at the top end of the global market by focusing on quality. Actis has been impressed by management's vision of achieving even stronger growth by increasing manufacturing scale and focusing on new sales at a time when global energy markets are booming.'
Actis completed one of the largest MBOs in Malaysia in 2004 - a $100m investment in personal care business Unza Holdings. The business was sold to India's Wipro in 2007 for $246m.
Last year, Actis completed the MBO of Malaysia-headquartered aluminium formwork designer Mivan Far East, investing $75m.
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