Latest news with #TrustarCapital
Arabian Post
01-07-2025
- Business
- Arabian Post
Emirati Investor Secures Strategic Stake in APAC Packaging Leader
Mubadala Investment Company is set to acquire a 30 per cent stake in Loscam International, a move that significantly strengthens its foothold in Asia‑Pacific's logistics and packaging sector. The agreement positions Mubadala alongside existing shareholders Trustar Capital, FountainVest and Sinotrans Limited, aligning sovereign wealth capital with a proven regional operator. The deal revolves around a share purchase agreement dated 26 June 2025, under which Mubadala, via its wholly owned Abu Dhabi Global Market entity, will invest approximately US$566.6 million, valuing Loscam at around RMB 11.8 billion as of 31 December 2024. The acquisition comprises a 25 per cent stake acquired from Sinotrans' China Merchants Shipping subsidiary for roughly US$472.2 million, complemented by smaller buys—3 per cent from CITIC Capital Maneuver and 2 per cent from FV Pallet. Loscam traces its roots to 1942 and is headquartered in Hong Kong, with operations across 12 Asia‑Pacific markets, including Australia, New Zealand, Southeast Asia and Greater China. Specialising in pallet pooling and returnable packaging, the company offers leasing, maintenance and cleaning services to key supply chain players within fast-moving consumer goods, retail and manufacturing sectors. ADVERTISEMENT Financial data shows Loscam posted a slight increase in post‑tax profit from RMB 458.3 million in 2023 to RMB 477 million in 2024, with net assets at year‑end reported at RMB 5.66 billion. The valuation is supported by a comparables-based EV/EBITDA multiple of approximately 11x as projected by independent appraisal firm Vocation International Asset Appraisal. Under the revised shareholder structure, Mubadala and Trustar Capital will each hold 30 per cent, while FountainVest will retain 20 per cent. Sinotrans' indirect holding is reduced to 20 per cent, maintaining its associate relationship with Loscam. Regulatory compliance remains a key condition ahead of finalisation. Clearances are required from competition authorities across China, Australia, the EU, as well as foreign investment approval under Australia's Foreign Acquisitions and Takeovers Act. The agreement further stipulates a dividend distribution totalling US$740 million to all shareholders at completion, with Sinotrans due about US$148 million. This strategic investment dovetails with Mubadala's broader tendency to back asset‑heavy, resilient sectors. The Abu Dhabi fund already holds logistics interests via the Australian Logistics Platform and PCI Pharma Services, and has earlier taken major positions including a 49 per cent share in Spain's Tubacex OCTG business. Analysts say investing in sustainable, circular‑economy solutions aligns with global supply chain de‑risking and ESG imperatives. Loscam's business model gives it a competitive edge. Pallet pooling services enhance sustainability and efficiency by reducing waste and operational costs—a critical component for packaging‑intensive industries. Its scale across 12 markets enables it to serve multinational clients with standardised platforms. The company competes with regional rivals such as Brambles' CHEP network, which previously exited parts of the Chinese market and transferred operations to Loscam in a US$132 million deal, highlighting Loscam's growing influence in APAC's supply chain infrastructure. While the share purchase agreement has formalised the investment, closing hinges on regulatory approval and financing conditions. The arrangement includes a mechanism to reduce purchase price by 30 per cent of any leakage—a term covering unauthorised asset transfers or payments—emphasising transactional rigour. For Mubadala, entry into Asia‑Pacific logistics via a major pallet pooling business broadens its diversification strategy in response to global supply chain vulnerabilities and ESG trends. The deal shines a light on rising appetite for asset-backed infrastructure in the region. With Loscam's long operational history and established regional footprint, Mubadala stands to gain in both returns and strategic influence.
Zawya
01-07-2025
- Business
- Zawya
Mubadala announces agreement to invest in Loscam International
ABU DHABI - Mubadala Investment Company announced its agreement to acquire a 30 percent stake in Loscam International, a provider of pallet pooling and returnable packaging solutions across the Asia-Pacific region. Mubadala will join the existing shareholder group alongside Trustar Capital, the private equity affiliate of CITIC Capital Holdings Limited; FountainVest, one of Asia's leading independent private equity firms; and Sinotrans Limited, a subsidiary of China Merchants Group. Headquartered in Hong Kong, Loscam operates across 12 countries and regions in Asia-Pacific, 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. With a history dating back to 1942, Loscam has established itself as a trusted partner in optimising supply chain operations. The transaction is subject to customary closing conditions, including regulatory approvals.
Nikkei Asia
30-06-2025
- Business
- Nikkei Asia
Starbucks courts buyers as it weighs sale of China business
Caixin Hillhouse Capital, FountainVest and Trustar Capital among potential suitors Starbucks is struggling to maintain its share in China's highly competitive coffee market, having been overtaken by local upstart Cotti Coffee and market leader Luckin Coffee. FENG YIMING, QU YUNXU and HAN WEI, Caixin Starbucks is considering selling its China operations, signaling a strategic shift as the American coffee giant grapples with declining market share and mounting pressure from low-cost domestic rivals. According to people familiar with the matter, the Seattle-based company has recently held preliminary talks with more than a dozen potential acquirers, including private equity firms Hillhouse Capital Group, FountainVest Partners Co. Ltd. and Trustar Capital.
South China Morning Post
24-06-2025
- Business
- South China Morning Post
Starbucks denies it is considering a full sale of its China operations
Starbucks has denied reports that it is in talks with private equity firms to sell the entirety of its China operations, as it faces slowing sales and intensifying competition from domestic rivals. 'We have a world-class team in China, and a strong brand,' the Seattle-based coffee chain said in a statement on Tuesday. 'We see significant long-term potential in the market and are evaluating the best ways to capture the future growth opportunities.' The statement came after local media outlet Caixin Global reported on Monday, citing sources, that Starbucks was weighing the sale of its China unit, drawing potential buyers including Hillhouse Investment and Trustar Capital, the private equity affiliate of McDonald's China owner Citic Capital. Starbucks began approaching private equity firms about a possible stake sale in May, according to a Bloomberg report. Baristas at work at a Starbucks Reserve Roastery in Shanghai. Photo: Reuters Starbucks shares rose less than 1 per cent in after-hours trading in New York, closing at US$92.34. The shares have fallen nearly 20 per cent from a peak in March.
Bloomberg
23-06-2025
- Business
- Bloomberg
Private Equity Firms Pursue Asian Loans to Fund Investor Payouts
By and Chien Mi Wong Save Private equity funds are ramping up loan deals in Asia to fund dividend payouts as they struggle to exit corporate buyouts. Trustar Capital, an Asian private equity firm, is in talks with banks for a loan of as much as $1 billion to fund a payout to shareholders of Loscam Asia Pacific Co., a Hong Kong-headquartered maker of pallets used in transporting of goods. Brookfield Asset Management is seeking funds for a similar purpose for Altius Telecom Infrastructure Trust, the owner of one of India's biggest digital infrastructure companies.
