Abu Dhabi-based investment company Mubadala Investment Company has acquired a 30% stake in Loscam International, a provider of pallet pooling and returnable packaging solutions across the Asia-Pacific region, from Sinotrans, a subsidiary of China Merchants Group.
The acquisition price was not disclosed. However, media reports have said the sale price was around US$567m (€481m).
Mubadala will join the existing shareholder group alongside Trustar Capital, the private equity affiliate of CITIC Capital Holdings; private equity firm FountainVest; and Sinotrans.
China Merchants purchased the business in 2010 for US$650m in a transaction involving Deutsche Bank. The Chinese bank in 2018 sold down a 55% interest to CITIC Capital Partners and FountainVest.
Founded in Australia with a history dating back to 1942, Loscam has expanded into the wider Asian region. It is now headquartered in Hong Kong and operates in 12 countries, including Australia, New Zealand, Southeast Asia and Greater China.
The company provides sustainable, high-quality pooling and logistics solutions to leading players in fast-moving consumer goods, retail, and manufacturing.
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