Malaysia’s CMS Opus PE exits TriSystems Engineering

The share sale - which involved undisclosed buyers - was completed last month and is said to have generated a 2.47x money multiple, representing an IRR of 30.03%.

CMS Opus PE acquired a 20% stake in the company for MYR 9 million ($2.5 million) in April 2011 via COPE-KPF Opportunity I.

Founded in 1995, TriSystems offers automation systems process packages solution, as well as engineering design and installation services for oil and gas operators. The investment has benefited TriSystems in securing double-digit growth during the investment period, according to CMS Opus PE.

Headed by managing director Azam Azman, CMS Opus PE is a joint venture between Opus Capital and Cahya Mata Sarawak. The latter operates businesses across manufacturing, construction materials, trading, property development and others. CMS Opus PE invests primarily in growth assets in oil and gas services.

In September, Ekuinas, a private equity investor backed by the Malaysian government, made LP commitments to funds raised by five local PE firms. CMS Opus PE, Tael Partners, RM Capital Partners and Tuas Capital Partners received MYR240 million ($72.2 million) in seed capital from Ekuinas in addition to MYR133 million they secured from private investors.

This was the second tranche of the Malaysian group's capital outsourcing program, which allocated MYR925 million to third-party managers. The fifth GP - Asiasons - was selected as a replacement manager for the first tranche.

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