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Aureos South-East Asia Fund II backs MBO of leading Indonesian engineering company

The Aureos South-East Asia Fund II (ASEAF II) has completed an MBO transaction of a leading Indonesian engineering company, ODG Wormald Indonesia (ODG).

ASAEF II, which is currently fundraising with a target of US$250m, is a regional private equity fund focusing on investments in South East Asia, particularly Indonesia, Thailand, Vietnam, the Philippines and Malaysia. Aureos has offices in all 5 countries, as well as Singapore, staffed by senior investment teams with extensive regional private equity experience.

ODG is the leading mechanical and engineering contractor in Indonesia to offer a full range of mechanical and electrical and fire systems services to Indonesia’s mining sector.

Besides Indonesia’s leading domestic miners, ODG’s customer base includes several multinationals, giving ODG a strong base for future expansions into international markets.

Hanjaya Limanto (pictured), Managing Partner of Aureos South East Asia, says: “ODG has an impressive record of handling large projects for many long-standing international clients, thanks to a hugely experienced management team, most of who have been with the company for many years.”

“We are delighted to be working with this team to help them build on ODG’s powerful position domestically to move into new international markets. This could potentially also be a platform investment allowing ASEAF II to invest further to enable acquisitions to build a larger regional player.”

Aureos will work with ODG’s management to identify new geographic markets with potential for expansion through both acquisitions and new start-ups, as well as providing working capital.

Hanjaya Limanto explains: “Aureos’ portfolio of investments throughout the South-East Asia region puts us in a great position to explore potential cross-selling opportunities and collaboration with our portfolio companies.”

Bill Bradshaw, General Manager and President Director of ODG Wormald, comments: “We are looking forward to working with Aureos to build on the successes of the fantastic team at ODG.”

“Aureos’ international network, which encompasses several companies in the engineering and mining support sectors will be a great asset to our international development plans.”

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