Marsun Company Ltd., a Thai shipbuilder, has raised $5.6 million from the Aureos South-East Asia Fund.
PRESS RELEASE
Aureos South-East Asia Fund has invested $5.6 million in the Thai shipbuilding company Marsun Company Limited (MCL). Aureos South-East Asia Fund is an initiative of Aureos Capital, a leading private equity fund management company specializing in investing in small to mid-cap businesses in emerging markets.
MCL[1], established in 1980, is the leading ship designer, builder and service provider in Thailand for vessels under 100 meters. Its products include crew boats, passenger ferries, motor yachts, fast patrol boats, research vessels, landing crafts and oil-spill recovery vessels. MCL also offers ship refitting, ship maintenance and repair, general engineering and project feasibility studies and it is also a supplier of marine equipment.
MCL is listed in the Lloyd’s Register Quality Assurance for MCL’s provision of shipbuilding and repairing for vessels under 100 meters. The company was also quoted as the best shipbuilder in Asia by Yacht Magazine in 2005.
Liam Cully, Regional Managing Partner for Aureos in South-East Asia says: “The prospects for growth in the region’s shipbuilding sector are significant. There is a growing demand for offshore vessels in the region as well as a strong replacement need coming from old vessels in the oil and gas industry. There is also a highly skilled labour market in the country, with very competitive labour costs.”
“These prospects, as well as MCL’s full spectrum of service offerings for the ship building industry, puts MCL in a prime position to take advantage of the many opportunities for expansion in the region, and makes it a company that fits well with Aureos’ strategy of investing in businesses with a potential to become regional powerhouses.”
“MCL also has a very strong management team with extensive experience in its sector, as well as very good corporate governance practices already in place. We are delighted with this investment and look forward to working with MCL.”
Sunchai Chongvisal, President of Marsun Company Limited, says: “We are very pleased that Aureos invested in MCL at this crucial period of expansion for our business and we look forward to working with the Aureos team in further establishing MCL as the top ship builder and ship services provider in Asia.”