Southeast Asian private equity firm Navis Capital Partners has invested in Singapore electronic waste company TES-Envirocorp.
The transaction saw Navis purchasing a majority equity interest in TES-Envirocorp and a commitment to invest further in the growth of the business.
The investment will enable TES-Envirocorp to accelerate its growth plans regionally, as well as into the Americas and Europe.
Navis partner Jean-Christophe Marti, said, “Electronic waste processing is an attractive industry with significant growth potential and Navis has significant experience in the waste management sector. TES-Envirocorp is an outstanding company with excellent management, strong operations, a global network, and a blue-chip client list of leading global MNCs. Under the stewardship of the management team at TES-Envirocorp, the business has grown to become a leading player across Asia Pacific and has expanded globally. We are looking forward to working with the management team of TES-Envirocorp to further grow the business and consolidate its position in the global electronic waste industry.”
Navis, which manages over $3bn in equity capital, has a long established track record in Asian private equity, with almost 60 control transactions completed since its establishment in 1998.
This is Navis’ sixth investment in Singapore and its first in 2013. In 2012, Navis delisted and took private SGX-listed label manufacturer Adampak, and also exited King’s Safetywear, an earlier take-private by Navis from the SGX, for four times invested capital.
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