Aladdin Media Holdings, a China-focused outdoor media investment company, has raised $30 million in growth equity funding. Credit Suisse Private Equity Asia led the deal, and was joined by AIF Capital, Alcazar Capital and return backer OSK Ventures International. Company management also participated.
Aladdin Media Holdings (AMH or the Group), a China-focused outdoor media investment company, has raised approximately US$30 million of growth capital from a group of investors, in an equity fund raising exercise led by Credit Suisse Private Equity Asia. AIF Capital and return backers OSK Ventures International also participated to a significant extent, with Dubai-based Alcazar Capital and management rounding out the investor group.
AMH is a leading owner, developer, consolidator and operator of Chinese outdoor media assets. AMH has completed several major acquisitions and initiatives since the beginning of 2006. The Group is in the process of establishing a nationwide street furniture platform, with the goal of covering over 30 cities throughout China.
The Group expects to cover at least 15 cities during 2008.
The Group has also acquired outdoor media servicing capabilities, and currently has relationships with more than 70 major MNCs and domestic customers in over 75 cities in China. This broad geographical scope allows the Group to cater to clients seeking to access not only tier 1 cities, but also the fast growing but underserved tier 2 and 3 cities.
Melvin Chung, founder, chairman and CEO, said, “Our Group has completed several major acquisitions in the past two years. The Group is now uniquely positioned to offer our clients a one-stop outdoor media solution through our own network of outdoor media assets as well as our extensive and professional servicing capabilities. We continue to develop and acquire new outdoor media assets and are in active discussions with a number of strategic partners to target this rapidly growing but fragmented media segment.”
Michael Tsang, the Group's CFO, said “Our current round of fund raising has been well supported and oversubscribed by a list of blue chip institutional investors. We are now well capitalized with a diverse range of long-term shareholders.”
Heath Zarin, of Credit Suisse Private Equity Asia, said, “We believe AMH is well positioned to be a leading outdoor media player in China, given its national footprint, asset portfolio and servicing capabilities. We are delighted to partner with Melvin, the AMH management team, and the other investors participating in this financing round. We are excited at AMH's prospects for future growth.”
About Credit Suisse
As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 47,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at http://www.credit-suisse.com .
About OSK Ventures International
OSK is Malaysia's leading venture capital & private equity company.
About AIF Capital
AIF Capital is one of the largest Asia-based independent private equity firms with over US$1.5 billion in direct investments and co-investments. Established in 1994, the firm oversees a diversified pan-Asian portfolio of investments. AIF Capital operates out of Hong Kong, China and also has an office in Delhi, India.
About Alcazar Capital
It is an independent Dubai-based private equity investment advisor incorporated in the Dubai International Financial Centre. It is owned by the logistics firm Agility, and Alcazar has a unique opportunity to leverage Agility's network, unique capabilities, and track record to capitalize on the exceptional opportunities that currently exist in emerging markets. Alcazar operates as a private equity fund adviser staffed with a dedicated team and an independent corporate governance structure. Alcazar's funds are expected to invest across a range of targeted sectors in emerging markets and will seek to create value through meaningful involvement with portfolio companies' strategic decision-making and operating philosophy. The aim of the funds is to engage in high quality partnerships with superior management teams in a variety of situations, including recapitalisations and growth investments to fund acquisitions or expansion.