SEAVI invests $17m in Indonesian port manager
SEAVI Advent Private Equity, the Asian arm of Advent International, has made a $17 million investment into Multicon Indrajaya Terminal, an Indonesian port depot manager.
The business is one of the largest container depot operators nationwide, with a more than 20% market share. It has seven container terminal depots in Jakarta, Surabaya, Belawan, Semarang and Panjang. Clients include Maersk Line, OOCL, Hyundai and Yang Ming.
"We believe that Multicon is well positioned to support the surge in container traffic as a result of Indonesia's economic growth and increase in domestic consumption" said Teo Yi-dar, a partner at SEAVI Advent.
This is SEAVI's first investment in Indonesia from its $178 million Fund V which closed in 2009. The fund invests in sectors such as industrial, technology, oil and gas and green energy.
In 2012, SEAVI sold its 27% stake in Singapore's Sin Heng Heavy Machinery, a crane rental company, to Toyota Tsusho Corporation for $26 million deal. It bought the stake for $74 million in 2008.
SEAVI also has a minority stake in Chinese shipbuilder Yangzijiang, bought in 2006 for $14 million.
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