Navis Capital Partners has ended its 10-year ownership of Singapore-based label and die-cut parts business Adampak through sale to Japanese trade buyer Oji Imaging Media.
The private equity firm picked up Adampak in an $88m deal way back in 2012, delisting the business from the Singapore stock exhange.
During Navis’ ownership Adampak expanded into Indonesia and diversified its operations into end-markets such as healthcare and automotive.
Jean-Christophe Marti, a senior partner at Navis, said, “Adampak has been a good investment for us, with EBITDA compounding at 15% over ten years – which was certainly for longer than we originally anticipated.
“…when we invested in Adampak in 2012, we identified positive tailwinds and trends in the self-adhesive label market in the Southeast Asia region.
“Our objective was to grow Adampak into the industry leader with superior quality and technical capability.
“Under Navis’ stewardship, Adampak has streamlined its operations and solidified its position as the market leader.”
Navis, which was founded in 1988, currently manages about $5bn in private equity capital.
Earlier this summer the firm launched a new credit platform with the hire of former BlackRock managing director Justin Ferrier.
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