Actis does two deals in Malaysia in run up to first close

Emerging markets buyout firm Actis has carried out two deals in Malaysia, selling the cosmetics company Unza after three years as well as buying aluminium company Mivan. The buyout firm is also in the process of raising another fund of an undisclosed size.

Emerging markets buyout firm Actis and Standard Chartered Private Equity have sold personal care company Unza to trade buyer Wipro for $246 million (€179 million).

Unza is South East Asia’s largest manufacturer and marketer of personal care products.

Standard Chartered Private Equity and Actis co-led the investment in Unza in 2004, as part of a $100 million management buyout. It is the largest management buyout completed in Malaysia.

During their ownership the buyout firms expanded the company’s Vietnam subsidiary and they acquired an Indonesian competitor.

Actis has also recently completed another Malaysian management buyout of Mivan Far East from Mivan, a European construction company for $75 million.

The buyout firm intends to expand the aluminum formwork company into India. Formwork is the mould into which concrete is poured. This function was traditionally carried out by plywood structures, but the use of computer-designed aluminium structures is on the increase across the construction industry. 

Actis bought Mivan from its Actis South East Asia-focused fund with $130 million of commitments. This fund was expanded from the Actis Malaysia fund first raised in 2004. At the time of expansion, Alun Branigan from Actis, told PEO the Malaysia fund “was a successful concept but we felt that there was a bigger opportunity across the region so we expanded the fund size and its remit”.

It is currently raising another fund.