Navis invests in Vietnam denim supplier

The size of Navis’ stake has not been disclosed, but the firm typically seeks controlling stakes in its portfolio companies. Saitex will use the new capital to accelerate its growth plans, explore opportunities in other parts of the denim value chain and invest in new manufacturing technologies.

Founded in 2001, Saitex is a full-service jeans manufacturer that makes garments for a number of leading global denim brands. The company promotes itself as more transparent and efficient than most denim suppliers due to its use of state-of-the-art technology and adherence to global sustainability standards.

Saitex’s services include product development and design, raw materials sourcing, sewing, washing and finishing. The company employs around 3,500 people at its facility in Dong Nai, near Ho Chi Minh City.

“Saitex is a unique and passionate organization that is committed to sustainable manufacturing and harnessing new technologies to bring even greater efficiencies and transparency to its business,” said David Ireland, senior partner at Navis, in a statement. “We share the Company’s core vision and philosophies and look forward to working together with Saitex in this next exciting stage of development.”

Navis manages about $5 billion and has made more than 75 control transactions across Asia since 1998. Its Vietnam investments include Hanoi French Hospital, which the firm acquired in 2016; luxury furniture manufacturer Theodore Alexander, bought in 2008; and generic pharmaceutical manufacturer OPV Pharmaceutical, acquired in 2012.

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• Topics
• Southeast Asia
• Industrials
• Buyouts
• Vietnam
• Navis Management
• manufacturing