CDH invests in Southeast Asia equipment leasing business

Aver Asia is headquartered in Singapore and has branch offices in Malaysia, Indonesia and Myanmar. It provides equipment such as aerial lifts, compressors, generators, winches and forklifts to more than 2,000 customers across Southeast Asia. The company also sells new and used equipment, and provides maintenance and training services.

CDH plans to work with P.K. Ang, CEO of Aver Asia, in supporting expansion in the region.

"Mr. Ang and his team have built an outstanding business founded on a strong worth ethic, an unyielding customer focus, and the highest business principles," Escamillo Lin, a Singapore-based director at CDH, said in a statement.

CDH closed its fifth US dollar-denominated fund at $2.55 billion in early 2014. While the vehicle is primarily China-focused, there is scope for a limited amount of investment in Southeast Asia. The GP has offices in Singapore, Jakarta and Ho Chi Minh City and sealed its debut deal in the region two years ago in Vietnam. It backed mobile phone retailer Mobile World, which has since gone public.

CDH is also increasingly looking at cross-border investments where there is a clear China angle. In addition to supporting portfolio company WH Group in its acquisition of US-based Smithfield Foods, the GP bought Japanese apparel retailer Baroque Japan with a view to rolling out the business in China.

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• Topics
• Expansion
• Southeast Asia
• Greater China
• Financials
• CDH Investments Management
• Southeast Asia
• Growth capital
• Financial Services
• China