Private Equity News & Analysis

Navis scores 10x sale to Partners Group

Partners Group's purchase of an apparel labelling business has given the Southeast Asia-focused firm an impressive exit multiple.

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Partners Group's latest direct investment is a $111 million secondary deal for Hong Kong-based business TrimCo.

TrimCo provides labels, tags and trimming products to apparel companies worldwide. 

Partners bought the stake from Navis Capital, which is focused on Southeast Asian markets. Navis bought a 70 percent stake in TrimCo in 2005 for $11.1 million, according to Navis’ statement.

During its holding period, Navis expanded the company’s supply channels to clothes manufacturers across China and Southeast Asia. It also initiated the bolt-on acquisition of a UK-headquartered label business, which also has a presence in Turkey and Romania. The bolt-on acquisition deal was closed by Partners immediately after TrimCo changed hands.

Going forward, Partners plans to diversify TrimCo's international reach and customer portfolio.