Southeast Asian private equity firm Navis Capital Partners is selling its entire stake in Adampak, the Singapore-based independent label and precision die-cut parts provider, to Japan’s Oji Imaging Media.
Financial details of the sale were not disclosed. Founded in 1979, Adampak was listed on the SGX-SESDAQ in 2004, upgraded to SGX Mainboard in 2007, and subsequently taken private by Navis in June 2012 for approximately $88 million.
During Navis’ ownership, Adampak grew its operations across Southeast Asia and expanded into Indonesia. It also diversified its operations into industry verticals such as healthcare and automotive.
The buyer, Oji Imaging Media, is a subsidiary of Oji Holdings Corporation, Japan’s leading manufacturer of paper products listed on the Tokyo Stock Exchange.
Oji Holdings president Hiroyuki Isono said in a statement that the acquisition will expand Oji’s line-up of label products for the electronics and healthcare sectors, which are expected to see high growth in Asia.
“Through this acquisition, we will aim to offer timely and optimum label products to a broader range of customers while improving customer value-add,” Isono said.
Founded in 1998, Navis manages approximately $5 billion in private equity capital and focuses on investments primarily in Southeast Asia and its adjacent economies.
It has so far completed over 90 control transactions, of which over 60 have been exited.
In August, Navis said it was selling its entire stake in Luxembourg-based medical cold-chain solutions provider B Medical Systems to Nasdaq-listed life sciences firm Azenta Inc.
In terms of new investments, Navis in July took a majority stake in the operator of Thailand’s spine and nerve specialty hospital S-Spine and Nerve Hospital.
It also completed an investment in Dan-D Foods Group, a Canada-based producer of healthy nut snacks with its core sourcing and processing facilities located in Vietnam.