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Private equity firm backs MBO of Teknicast
9/6/2008 |
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KUALA LUMPUR: Actis, the private equity investor that was involved in the management buyout (MBO) of Unza Holdings Bhd in 2004, has backed the management buyout of Teknicast, one of the country’s largest manufacturers of aluminium die-cast products.
Actis is helping U Cheng Eng, managing director of Teknicast, acquire the company from its Japanese owners via an MBO.
Teknicast produces aluminium die-cast products mainly for the international oil and gas sector, according to an Actis statement. The company said its precision engineering enhanced the value of Teknicast’s products and gave it an edge over its competitors.
“Teknicast is a great example of a Malaysian company that has carved out a profitable niche at the top of the global market by focusing on quality,’’ Actis director Ching Lee said. “Actis has been impressed by the management’s vision of achieving even stronger growth by increasing manufacturing scale and focusing on new scales at a time when global energy markets are booming.’’
Teknicast, which has annual revenues of over RM140mil, employs 670 people at a plant outside Kuala Lumpur.
Actis has found fertile ground in Malaysia where it helped the US$100mil MBO of Unza and three years later, in 2007, sold the personal-care business to India’s Wipro Ltd for US$246mil.
Last year, Actis completed the MBO of Mivan Far East, investing US$75mil in the company which designs aluminium formwork for the construction industry.
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