Navis acquires Macau-based ISA Industrial

ISA's founders will retain a minority interest and certain members of senior management will co-invest alongside Navis, according to a release. The GP plans to help ISA with its expansion plans and strategic acquisitions in Asia and in other regions. Financial details of the deal were not disclosed.

With factories in Vietnam, China and the USA, and a Gold rating from the worldwide industry consortium the Leather Working Group, ISA supplies leather goods to global casual and outdoor footwear brands such as Timberland, Clarks and Wolverine. The company has also attracted increasing business from the military, as its North American manufacturing facility allows it to use the "Made in USA" label.

"We are extremely pleased about our partnership with the founders and senior management of ISA. Their passion and focus on excellence have allowed them to build a best-in-class business with a blue chip customer base. We look forward to supporting them through another chapter of continued growth and success," said Rodney Muse, managing partner at Navis.

Navis has experience in the footwear industry through several previous deals. In 2008 the firm bought Singapore-based safety footwear maker King's Safetywear for S$95 million ($74 million), later exiting the company in 2011 to Honewell International at a valuation of S$430 million. More recently, Navis paid between $75-125 million to acquire Hong Kong-based footwear component maker Texon International in April this year.

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• Topics
• Greater China
• North America
• Southeast Asia
• Industrials
• Buyouts
• Buyout
• China
• USA
• Vietnam
• Navis Management
• manufacturing