The Aureos South East Asia Fund has sold its stake in Environmental Care Management (ECM), Thailand’s pioneer in water purification for industrial waste water, to a consortium of investors for USD3.7 million.
Aureos Capital is a private equity fund management company specialising in investing in small and medium sized businesses in emerging markets. The sale marks the fourth total exit for the Aureos South East Asia fund.
Since Aureos’ investment in ECM in 2007, the company has nearly doubled its capacity, growing from 12 water purification units to 22. The holdings of the company’s new owners include power plants requiring sizeable water recycling facilities, which they plan that ECM will provide.
Srisant Chitvaranund, Partner, Aureos South-East Asia Fund, says: “We are pleased to have achieved this exit for the fund, and we wish the company and its new owners every success for the future development of the business and the continuation of its profitable growth.
“Over the last few years we have worked closely with ECM in expanding its provision of industrial water purification processes for industry, which help businesses minimise their costs as well as their environmental impact.
“As a signatory to the United Nations Principles for Responsible Investment (UNPRI), sustainability is at the core of Aureos’ investment principles, so we are delighted that the growth of ECM has been driven in part by the increasing commitment of Thai businesses to high environmental standards.”
Pinai Puangmanee of ECM, says: “Aureos’ investment has been hugely beneficial for the company. It has enabled us to double our capacity, taking us to a scale where we can meet the needs of some of Thailand’s biggest industrial players.”
