Tag: 2021

Malaysia, Wednesday, 8 December 2021: Navis Capital Partners (“Navis”) announced today the sale of its entire interest in Pinnacle Inspection Ltd (“QIMA”). Caisse de dépôt et placement du Québec (“CDPQ”), a Canada-based global investment fund, is the new equity investor alongside the founder, Sebastien Breteau, and his senior management team.

QIMA is a tech-enabled business services provider and was founded in Hong Kong in 2005 under the name of AsiaInspection. It changed its name to QIMA in 2019 to reflect the broader services it offered and its ambition for a global presence. Today, QIMA operates out of 88 countries offering testing, inspection, certification (TIC) and audit services in the consumer goods, food and life sciences verticals.

A co-controlling 40% stake in QIMA was acquired by Navis from passive financial investors, the founder and his management team in December 2017. Over the last 4 years, QIMA has grown its revenue at a CAGR of 32% and EBITDA at 26%. QIMA proved to be a highly resilient company and was able to grow EBITDA through 2020 despite the severe COVID-19 impact on global supply chains. More generally, QIMA has also successfully navigated the shifting of global supply chains from China to Southeast Asia.

During Navis’ tenure with QIMA, the company has accelerated its M&A agenda and completed 8 acquisitions since 2017 with 4 more under completion at the time of writing. These acquisitions have added significantly towards QIMA’s capabilities such as adding new attractive locations for lab testing in consumer goods, an additional food inspection capability in Brazil, and a life sciences testing capability in Europe. QIMA has been able to integrate these acquisitions onto its digital platform, progressively reducing operational costs and improving margins, thereby making these acquisitions highly value accretive.

Nicholas Bloy, the Founder and Managing Partner at Navis, commented: “We were fully convinced that QIMA’s tech-enabled approach to TIC services provided a material competitive advantage vs. others in the industry. This proved to be the case, and the management team has delivered on every dimension that was expected of them. QIMA will continue to disrupt the TIC industry with its new SaaS offering, QIMAOne, and we wish our dear friend Sebastien and his senior management team all our best wishes for the next stage of their global journey with CDPQ”.

JP Morgan was the exclusive financial advisor to Navis Capital and QIMA on the transaction.

About Navis Capital Partners Limited

Founded in 1998, Navis manages approximately US$ 5 billion in private equity capital and focuses on investments primarily in and around Asia. Navis contributes both capital and management expertise to a limited number of well-positioned companies with the objective of directing strategic, operational and financial improvements. Navis has one of the largest private equity professional teams in Asia, comprising 60 individuals, supported by 30 administrative staff, in six offices across the region. Navis has a long and proven track record in pan-Asian private equity, with over 85 control transactions across the Asian region completed since its establishment.

Contact details: Navis Capital Partners

Nicholas Bloy
+60 3 2302 3888
nbloy@naviscapital.com

Kuala Lumpur, 31 July 2021: Navis Capital Partners (“Navis”) is pleased to announce the final close of two Navis Asia Funds.

Navis Asia Fund VIII, L.P.

Navis Asia Fund VIII, L.P. (including certain parallel and related vehicles, “Navis VIII”) is a successor fund to Navis Asia Fund VII, L.P., the investment period of which finished in July 2021. The fund will continue to focus on pre-dominantly controlling investments in growing companies across Southeast Asia, as well as in Australia / New Zealand and in Hong Kong / China.

Navis VIII has closed at a total of USD 900 million and has already completed several strategic investments in healthcare, private education and food-related consumer goods across the Asia Pacific region.

Navis Asia Green Loop Fund, L.P.

Navis Asia Green Loop Fund, L.P. (the “NGL Fund”) is the continuation fund for 5 Navis Asia Fund VI, L.P. portfolio companies. A unique characteristic these companies share is that they have all built a core climate and sustainability theme into their respective business models, and will benefit from rising regional and global interest in businesses that can create value within these themes whilst contributing to a reduction in the carbon footprint of their activities. These investments include electronic waste recycling with a particular focus on the development of a global network of lithium-ion battery recycling facilities, in plastic-free and locally-sourced food retail and the low carbon footprint production of protein and industrial goods.

The NGL Fund closed at a total of USD 450 million.

About Navis Capital Partners Limited

Founded in 1998, Navis manages over USD 5 billion in private equity capital and focuses on investments primarily in and around Asia. Navis contributes both capital and management expertise to a limited number of well-positioned companies with the objective of directing strategic, operational and financial improvements. Navis has one of the largest private equity professional teams in Asia, comprising 59 individuals, supported by 30 administrative staff in six offices across the region. Navis has a long and proven track record in pan-Asian private equity, with over 80 control transactions across the Asian region completed since its establishment.

Contact details: Navis Capital Partners

Hong Kong, Monday, 5 July 2021: Navis Capital Partners (“Navis”) announced today the sale of its controlling interest in Amazon Papyrus Chemicals Group (“Amazon Papyrus”) to The Longreach Group (“Longreach”), an independent private equity firm with offices in Hong Kong and Tokyo.

Established in 2000, Amazon Papyrus is a leading specialty process chemical solution provider to the pulp and paper industry in Asia with a proven track record of business growth and expanding long-term customer relationships. Amazon Papyrus is headquartered in Hong Kong with a regional presence across Asia.

A controlling stake in Amazon Papyrus was acquired from the original founders in January 2014. Since then, Navis has worked closely with the senior management team to strengthen Amazon Papyrus’ leading position across Asia by increasing market share in the pulp and paper process chemical sector via both organic and M&A initiatives. During its holding period, Navis assisted management with a strategic bolt-on acquisition in Thailand which accelerated market share growth with local production capacity. Key operational initiatives included improved capabilities in the overall finance, procurement and corporate governance functions, which were supported by ERP and CRM infrastructure upgrades. Navis also assisted Amazon Papyrus in honing working capital which, when combined with the company’s strong cash generation, allowed for the payment of significant dividends.

Rodney Muse, Managing Partner, Navis Capital, commented: “When we invested in Amazon Papyrus, our objective was to bring Navis expertise to enhance the operational efficiency and market position of an already outstanding business. We worked closely with our management partners to accomplish this objective. The business performed strongly throughout COVID-19, demonstrating the strength of management and the resilience of the business model. We wish the management team all the best as Amazon Papyrus embarks on the next stage of its growth journey with The Longreach Group.”

Michael Grundy, Co-founder, Amazon Papyrus, commented: “I am very excited to have Longreach as our new Partner. Longreach will bring new ideas and different capabilities (including in the Japan market) to our company which will help us to develop and grow to a higher level. I want to thank the Navis team for their support and guidance over the recent years.”

BDA Partners was the exclusive financial advisor to Navis Capital and Amazon Papyrus on the
transaction.

About Navis Capital Partners Limited

Founded in 1998, Navis manages approximately US$ 5 billion in private equity capital and focuses on investments primarily in and around Asia. Navis contributes both capital and management expertise to a limited number of well-positioned companies with the objective of directing strategic, operational and financial improvements. Navis has one of the largest private equity professional teams in Asia, comprising 58 individuals, supported by 30 administrative staff, in six offices across the region. Navis has a long and proven track record in pan-Asian private equity, with over 80 control transactions across the Asian region completed since its establishment.

Contact details: Navis Capital Partners

Kuala Lumpur, Monday, 24 May 2021: Navis Capital Partners (“Navis”), an Asia-based private equity firm, has completed a majority investment into Aurelius Healthcare (“Aurelius” or “the Group”), to back a highly credentialed management team to build a healthcare services platform that will invest into brownfield and late-stage greenfield hospital opportunities primarily in Malaysia.

The Aurelius team will be led by Dato Amir Firdaus, who brings 25 years of healthcare experience with him, having successfully worked with major healthcare groups in Malaysia, SEA and the Middle East. Collectively, the team has consistent and extensive experience in the healthcare industry covering various aspects of hospital management, business development and corporate governance to make this platform a success.

Currently, Aurelius has signed definitive agreements for two (2) tertiary hospitals at an Enterprise Value of c. USD 80 million. The first opportunity is the acquisition of an existing c. 100 bed hospital. The second opportunity is an acquisition of a nearly-completed c. 200 bed hospital that will be operational in c. 12-15 months time. Aurelius is also actively in discussions for another 4-5 opportunities and will seek to expand this pipeline rapidly with Navis’ participation.

Malaysia’s healthcare market has strong underlying fundamentals with projected growth of 8-10% CAGR over the next few years. There is increasing demand for private healthcare, driven by growth in the middle-income segment, ageing population, rising insurance penetration and under-investment in public hospitals over the past years. In particular, there is a gap in high quality care outside the Klang Valley for the middleincome population. Aurelius aims to fill the gap by bringing world class healthcare quality management practices into these areas in either greenfield or brownfield sites.

Navis is committed to grow Aurelius alongside Dato Amir and his team, with an aim to have 5-10 hospital operating within the platform during our investment holding period. In this regard, Navis will be working closely with Aurelius on merger & acquisitions opportunities (“M&A”), on the provision of growth capital and on the institutionalization of the platform itself in terms of governance and best practice.

Nicholas Bloy, Co-Founder and Managing Partner at Navis Capital, commented: “This investment will accelerate the provision of private healthcare services to relatively affluent but under-served communities across Malaysia”.

Edwin Fua, a partner at Navis Capital, commented: “With Dato Amir and the Aurelius team, we strongly believe that we have the A-team that will create substantial, sustainable value in the Malaysian healthcare space. His collaborative style matches well with our own values and we look forward to an exciting journey ahead with him and his team”.

Dato Amir Firdaus, Managing Director and Founder at Aurelius, commented: “Aurelius Healthcare is honoured and delighted for this partnership with Navis Capital. We are committed to ensuring our Patient, Doctors, Teammates and communities we serve shall have great experiences.

The collective values in Aurelius Healthcare assets shall strive towards provision of high quality, consistent, safe, ethical healthcare outcomes through the highest level of trained clinical teams that are technology enabled. This cocooned in comforting ambience for our patients, families and teammates.

It shall be our honour in caring for patients/communities and collaborate with in supporting Ministry of Health, Malaysia and our partners in the corporate sector.

“To Care, To Think, To Breathe, To Love – Aurelius Healthcare”

About Navis Capital Partners Limited

Founded in 1998, Navis manages approximately US$ 5 billion in private equity capital and focuses on investments primarily in and around Asia. Navis contributes both capital and management expertise to a limited number of well-positioned companies with the objective of directing strategic, operational and financial improvements. Navis has one of the largest private equity professional teams in Asia, comprising 58 individuals, supported by 30 administrative staff, in six offices across the region. Navis has a long and proven track record in pan-Asian private equity, with over 80 control transactions across the Asian region completed since its establishment.

Contact details: Navis Capital Partners
Nicholas Bloy
+60 3 2302 3888
nbloy@naviscapital.com

Singapore, 18 January 2021: Navis Capital Partners (“Navis”), an Asia-based private equity firm, has completed an investment in Moneythor Pte Ltd (“Moneythor”). Founded in 2013 by banking technology veterans and digital entrepreneurs with a strong background in computer science and applied mathematics, Moneythor is a technology company providing financial institutions and fintech firms with solutions to enhance their digital banking services, with a prime focus on the generation of data-driven personalised and contextual recommendations for their customers. Moneythor is headquartered in
Singapore and is present in London, Paris, and Tokyo.

Traditional banks are facing new challenges from customers, regulators, market condition and disruptors. Customers expect banks to simplify their lives and have deep understanding of their needs and goals through data while protecting their money and identity. Moneythor’s open banking-enabled personalised content enables banks to deepen customer engagement which is imperative to delivering engaging digital experiences to users through its Artificial Intelligent (AI) and Machine Learning (ML) powered engine. Moneythor provides financial institutions with a cloud-native software solution to enhance their digital banking services across multiple channels such as mobile, web, ATMs and chatbots. Driven by data, it focuses on the delivery of real time, personalized contextual and actionable recommendations, nudges and insights to the banks’ customers. Moneythor supports traditional financial institutions, card issuers and fintech firms including virtual banks and digital wallet providers in many countries around the world; with penetration focus in Asia and Africa.

Olivier Berthier, the CEO and co-founder of Moneythor, commented: “I am delighted to welcome Navis as shareholders in Moneythor and we look forward to partnering as we accelerate the growth of the business. This significant investment is a testimony of the international success of our solution in helping financial institutions enhance their digital banking services to make them more personalised and contextual for their customers. It is also an acknowledgement of the ongoing growth of the market fuelled by new regulations such as Open Banking and new digital & virtual bank licenses globally.”

Rajendra Pai, Partner at Navis, commented: “Digital Banking and FinTech is growing and quickly evolving to be a part of consumers’ everyday lives in markets across the globe. In these days of elevated customer expectations Moneythor’s solutions synthesising insights through AI and ML help make digital financial services more relevant, more personal and insightful for customers thereby creating incredible value and customer experiences. We strongly believe in the vision, skills, and expertise of the management and the broader team at Moneythor and are thrilled to be a part of this story and look forward to taking Moneythor to the next level of growth and beyond.”

Moneythor also looks forward to working closely with an affiliate in the Navis family, DZ Card, to open new markets where DZ Card has strong relationships and an established client base. Together Navis expects both Moneythor and DZ Card to offer a wider suite of product and service offerings to customers in financial service sector.

Navis was advised by PwC and Ashurst.

About Navis Capital Partners Limited

Founded in 1998, Navis manages approximately US$ 5 billion in public and private equity capital and focuses on investments primarily in and around Asia. Navis contributes both capital and management expertise to a limited number of well-positioned companies with the objective of directing strategic, operational and financial improvements. Navis has one of the largest private equity professional teams in Asia, comprising approximately 60 individuals, supported by over 30 administrative staff, in six offices across the region. Navis has a long and proven track record in pan-Asian private equity, with over 80 control transactions across the Asian region completed since its establishment.

About DZ Card

Founded in 1971, DZ Card is a leading secured smart card solution and payment security system provider headquartered in Thailand, with subsidiaries in India, Malaysia, the Philippines, and Tanzania. The firm is one of the top 10 largest secured smart card providers globally with strong relationships with key banks, financial institutions, telecom operators and major retailers in over 40 countries. DZ Card is well established in emerging markets such as Southeast Asia, India, and Africa and Navis expects DZ Card
to continue to capture growth in these markets; and strengthen and expand the firm’s position into the secured payment solution sector.

Contact details: Navis Capital Partners