Use platform investment to acquire subscale businesses at discounted valuations and integrate to improve efficiency.
Actively assist portfolio companies in the identification, evaluation and subsequent execution of bolt-on acquisitions. In particular, a core strategy is first to acquire a corporate platform and subsequently make bolt-on acquisitions of subscale businesses at attractive valuations that can be integrated to achieve efficiencies of scale and enable platform companies to become market leaders. This strategy works particularly well in markets that remain relatively fragmented, which is the case with many Asian industries today. A well planned “roll-up” strategy can often enable mid-sized companies to achieve scale rapidly, which in turn can make them more attractive to both capital markets and prospective strategic buyers.
We understand the challenges of post-acquisition integration. We have completed over 25 bolt-on acquisitions in 15 countries. In-house expertise/capabilities including legal, tax, hedging, leverage finance, to support portfolio companies in merger and acquisition transactions.