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Navis sells it chinese stake in garment firm trimco

Navis sells it chinese stake in garment firm trimco Source:
Date: 07-05-2012
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Private equity firm Navis Capital Partners said on Wednesday its Navis Asia Fund IV has sold its stake in Chinese garment label firm Trimco International to Switzerland's Partners Group, making a 10-fold return.
"Navis acquired its majority stake in Trimco back in 2005 for a total equity cost of $11.1 million, and the investment has generated an aggregate equity amount returned to Navis of $111.4 million in exit proceeds and dividends received over the seven-year holding period," Navis said in a statement.
Trimco, which was founded in Hong Kong, services garment manufacturers in China, India and Southeast Asia.
Navis, whose main office is in Malaysia, manages about $3 billion in equity capital commitments.
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