Singapore’s Dymon joins $15m medical industry acquisition

It marks the first investment by DAPE’s second fund, which closed earlier this month with $450 million in commitments, having targeted $350 million. The fund has a mandate to invest companies that have annual profits of $5-30 million.

“Sembcorp’s medical and biohazardous waste division is a pioneer and market leader in the sector with more than 25 years of operating and safety track record,” Gabriel Ho, managing director at DAPE, said in a statement. “We hope to add value through our networks, business and strategy development capabilities, and our investment and management track record in Singapore, including both the healthcare and utilities sectors.”

The transaction entails the establishment of a joint venture company between DAPE and Tee International with a view to making further infrastructure and industrial investments. The plan is to leverage the partners’ core capabilities in utilities and medical waste management. Tee International will also contribute expertise related to its business interests in real estate and infrastructure across the region.

DAPE was set up as a PE arm of hedge fund Dymon Asia Capital in 2012. The GP targets opportunities across healthcare, retail, fast-moving consumer goods, food and beverage, manufacturing, education, and B2B business models via offices in Singapore, Malaysia and Thailand. It closed its first fund at S$300 million in 2014.

Recent investment activity includes the acquisition of a minority stake in Malaysia-based and Myanmar-listed bottled water producer Spritzer for about MYR63 million ($16 million). Last month, DAPE exited Singapore and Malaysia-based electrical systems services provider Wah Loon Engineering to a European strategic.

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• Topics
• Southeast Asia
• Industrials
• Healthcare
• Support services
• Buyouts
• Singapore
• Dymon Asia