Navis buys control of Hong Kong chemicals producer
Navis Capital Partners has acquired a controlling interest in Amazon Papyrus Chemicals Group, a Hong Kong-based chemicals manufacturer that supplies the paper and pulp industry.
The private equity firm has taken significant equity position in Amazon and will support the company's regional expansion plans and also efforts to streamline operations. The founders and senior executives remain shareholders in the business and will continue day-to-day management.
"Amazon has been successful in bringing production efficiency to an industry that has seen significant investment," said Bruno Seghin, a partner at Navis. "We look forward to an active partnership with Amazon, where we bring our expertise to further enhance operational efficiency and development of the business."
Established in 2000, Amazon supplies tailor-made chemical product formulations and onsite technical support to paper companies.
This is Navis' sixth investment in Greater China after KFC Hong Kong, Wall Street Institute Hong Kong, Trimco International, Hui Lau Shan and Trio. The private equity firm has more than $4 billion under management and has completed 60 control transactions since 1998.
The firm reached a first close of $860 million on its seventh Asian fund in December. The institutional fundraising is due to be completed shortly with around $1.3 billion in commitments, while a shariah-compliant parallel fund should be in place by June, taking the total to $1.5 billion.
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