Symphony buys significant stake in Vietnamese logistics company for $42.6m – Symphony International (SIHL) has acquired a significant minority stake in Vietnam-based Indo Trans Logistics Corporation (ITL) for a consideration of about $42.6m.
About ITL
SIHL says that ITL, founded in 2000 as a freight-forwarding company, has since grown to become one of Vietnam’s “national champions” and is the largest independent integrated logistics company with a network spread throughout Vietnam, Cambodia, Laos, Myanmar, and Thailand with more than 2,000 employees across its business units and joint ventures.
In the press release accompanying the announcement, Anil Thadani, a director of SIHL, said: “The opportunity to acquire this interest in Vietnam’s leading integrated logistics company is a good example of our practice of sourcing proprietary opportunities through our own network of business & personal contacts built over 35 years of private equity practice in the region. Over the past 20 years, ITL management has consistently grown the business to the point where the company is now among Vietnam’s “national champions.” ITL’s strategic mandate fits well with our strategy to invest in and support businesses that complement & benefit from the rising affluent and middle-class population in Asia. We have looked at several opportunities in Vietnam over the years, and ITL has all the attributes of the kinds of businesses we like to invest in – a proprietary deal, a strong & proven management team and a business that is well positioned to directly benefit from the growth in the region.”
About SIHL
SIHL is a London listed strategic investment company that invests in a wide variety of businesses in the healthcare, hospitality and lifestyle sectors (including branded real estate developments), which are principally in Asia. It offers a way for investors to gain exposure to businesses that benefit from the rising disposable incomes and wealth creation in the economies of Asia. SIHL’s objective is to provide capital growth by investing in high quality companies and forming long-term business partnerships with talented entrepreneurs.
SIHL: Symphony buys significant stake in Vietnamese logistics company for $42.6m