Alternative asset manager The Carlyle Group has closed four growth capital investments across Asia with total equity investment of more than USD140m.
These investments, made by Carlyle Asia Growth Capital Partners IV, illustrate strong momentum of the fund since its closing at USD1.04bn in June 2009.
Within the first year of final closing, the fund has already invested in eight companies.
The four new investments are: ATMU (China); Tirumala Milk Products (India); HKucar Global (Korea); and EO Technics (Korea).
Wayne Tsou, managing director and head of Carlyle Asia growth capital group, says: “We are excited with our business momentum and the steady accumulation of a diversified portfolio in various target countries as planned. This pace reflects the proven abilities of our seasoned local investment professionals in each of the focused markets to seize attractive investment opportunities. These companies have in common strong growth fundamentals; they are the key beneficiaries of vibrant domestic growth stories in their respective countries.”
ATMU is the largest independent automated teller machine deployer in China, which distributes, deploys, manages and maintains ATMs across the country on behalf of client banks. ATMU has an exclusive cooperation agreement with the state-owned Postal Savings Bank, the fifth largest savings institution in China operating the largest branch network in the nation.
Established in 1998, Tirumala Milk Products is the second largest private dairy player in South India and is among the top three suppliers in each of its key markets. The company manufactures and markets a wide range of branded dairy products including pasteurized milk, Indian style yogurt, butter and other dairy derivative products.
HKucar Global will be an institutionalised nationwide used car dealership network with a close relationship with Hyundai-Kia Automotive Group. HKucar was spun-off from Hyundai-Kia Automotive Group in December 2006. Hyundai Motor Company and Kia Motors are minority shareholders of HKucar.
Established in 1989, EO Technics is Korea’s only integrated laser engineering company and a manufacturer in self-developed micro-machining laser equipment for the semiconductor, liquid crystal display, printed circuit board and solar cell industries.
