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COPE Private Equity exits Serba Dinamik

COPE Private Equity (COPE) has fully exited Serba Dinamik Holdings Berhad (Serba), capping a successful four-year investment in the integrated and specialised engineering services company.

COPE invested in a subsidiary of Serba for MYR35 mil (USD9 mil) in June 2013 via two of its private equity funds – COPE-KPF Opportunities 1 and COPE Opportunities 2.
 
Over the period of COPE’s investment, Serba grew its revenue 4.9-fold and net profits 5.3-fold. For the nine months ending 30 September 2017, Serba’s revenue and PAT was MYR1.9 billion (USD490 million) and MYR227 million (USD59 million) respectively.
 
The foundation of Serba’s growth was the result of a concerted push to develop business outside its home market of Malaysia to the Middle East, Indonesia, and the United Kingdom. For the 9 months ending 30 September 2017, 71 per cent of Serba’s revenue was contributed from its international operations, up from 45 per cent in 2013.
 
The decision to divest Serba was made in view of the approaching maturity of both private equity funds. With the full exit in January 2018, COPE has more than covered the cost of its investment, generating IRR of 79.2 per cent and money multiple of 8.9x on the capital invested.
 
Dato Dr IR Mohd Abdul Karim, Group Managing Director and Group CEO of Serba Dinamik, says: “We are grateful to the COPE team for their strategic guidance and counsel. They have played an integral role in helping us to execute our international expansion.”
 
Dato Azam Azman, Managing Partner of COPE Private Equity, says: “We are privileged to work with the exceptional management team led by Dato Dr IR Mohd Abdul Karim. With a strong track record and record order book, we are confident Serba Dinamik will continue to scale new heights.”
 

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