Lombard Investments has sold a major portion of its stake in Somboon Advance Technology, a Thailand-based original equipment manufacturing supplier of auto parts.
Lombard invested in Somboon through its Thailand Equity Fund and realised a 3x return.
During Lombard’s holding period, Somboon grew its car and light truck parts business, expanded its production capabilities, and in response to the global economic crisis diversified into agricultural equipment parts.
The company’s primary products are axle shafts, brake components and springs. Its sales for the first six months of 2010 were approximately USD100mn.
Lombard is a private equity investment manager with offices in San Francisco, Bangkok and Hong Kong, and working relationships in Manila, Ho Chi Minh City, Shanghai and Taipei.
