Carlyle Announces Four Asian Growth Equity Deals

The Carlyle Group announced that it has invested a total of more than $140 million into four Asian growth equity deals: ATMU Inc., a Chinese ATM deployer; Tirumala Milk Products, an Indian dairy; HKucar Global Co., a Korean used car dealership network; and EO Technics Co., a Korean laser engineering company.

PRESS RELEASE

Global alternative asset manager The Carlyle Group today announced the closing of four growth capital investments across Asia with total equity investment of more than US$140 million. These investments, made by Carlyle Asia Growth Capital Partners IV (CAGP IV), illustrate strong momentum of the fund since its closing at US$1.04 billion in June 2009. Within the first year of final closing, the fund has already invested in eight companies.

The four new investments include:

ATMU Inc. (China)
Tirumala Milk Products Private Limited (India)
HKucar Global Co., Ltd. (Korea)
EO Technics Co., Ltd. (Korea)

Wayne Tsou, Managing Director and Head of Carlyle Asia Growth Capital group (CAGP), said, “We are excited with our business momentum and the steady accumulation of a diversified portfolio in various target countries as planned. This pace reflects the proven abilities of our seasoned local investment professionals in each of the focused markets to seize attractive investment opportunities. These companies have in common strong growth fundamentals; they are the key beneficiaries of vibrant domestic growth stories in their respective countries.”

ATMU Inc. is the largest independent Automated Teller Machine (ATM) deployer in China, which distributes, deploys, manages and maintains ATMs across the country on behalf of client banks. It also develops management software for ATMs. With a 15% market share in China’s fast growing ATM market, ATMU has an exclusive cooperation agreement with the state-owned Postal Savings Bank, the fifth largest savings institution in China operating the largest branch network in the nation.

Established in 1998, Tirumala Milk Products Private Limited is the second largest private dairy player in South India and is among the top three suppliers in each of its key markets. The company manufactures and markets a wide range of branded dairy products including pasteurized milk, Indian style yogurt, butter and other dairy derivative products. Through a large self-developed distribution network of more than 2,500 wholesalers, dealers and selling agents, Tirumala is well placed to capture growth opportunities in a robust sector fueled by growing income and demand for quality products.

HKucar Global Co., Ltd. will be an institutionalized nationwide used car dealership network with a close relationship with Hyundai-Kia Automotive Group. In a highly fragmented used car market with few institutionalized players, HKucar is well poised to gain leadership through a large platform and high quality services. HKucar was spun-off from Hyundai-Kia Automotive Group in December, 2006; Hyundai Motor Company and Kia Motors are minority shareholders of HKucar.

Established in 1989, EO Technics Co., Ltd. is Korea’s only integrated laser engineering company and a global manufacturer in self-developed micro-machining laser equipment for the semiconductor, liquid crystal display, printed circuit board and solar cell industries. EO Technics is an early mover with dominant positions in many product lines targeting the micro-machining process such as marking, trimming, grooving, dicing, drilling, patterning and scribing.

CAGP IV is the fourth fund managed by the Carlyle Asia Growth Capital group, a sector-agnostic growth capital fund that invests in high growth companies with strong local management and leading market positions in China, India, Korea and other key Asian markets. With aggregate assets of more than US$2 billion under management, CAGP brings significant support and value-add to portfolio companies through its vast international business network, deep local insight from its native investment team, experience in a broad range of industries, expertise in business management and strong leverage in global M&A and capital markets initiatives. This has allowed CAGP’s portfolio companies to accelerate capacity and market share expansions.