Navis Capital Partners, the Malaysia-based private equity (PE) firm, has announced that its Navis Asia Fund IV has sold its stake in TrimCo International to Switzerland-based Partner Group.
Hong Kong-based TrimCo is a specialist labeling provider and is one of the largest China-focused service providers. The company supplies labels to contract garment manufacturers in China, on behalf of global branded apparel retailers like Nike, Adidas and Debenhams.
In 2005, Navis acquired a majority 70 percent stake in TrimCo for US$ 11.1 million. Over the seven-year period Navis has accrued returns totaling US$ 111.4 million including the exit proceeds and dividends, thus making a 10-fold return, the company said.
During the seven-year holding period, TrimCo expanded its services to cover garment manufacturers in India and Southeast Asia.
Fibre2fashion News Desk - China
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