Globamatrix Holdings and Mulberry Asia Fund in Joint Venture to Acquire Market Leader in Window Film Business
SINGAPORE – January 29, 2007 – Globamatrix Holdings Pte Ltd and Mulberry Asia Fund are pleased to announce the establishment of a joint venture entity, Novomatrix Pte Ltd (the “Company”) to acquire all the window film businesses of Novomatrix Holdings Pte Ltd and its subsidiaries (the “Group”).
The Singapore headquartered Group is a market leader in the spectrally selective window film business with several global brand names including V-KOOL Ò , Huper Optik Ò , Nanolux Ò and IQue Ò . It has market presence in 26 countries with distribution reach in excess of 1,000 outlets worldwide. Amongst its varied achievements, the Group has successfully branded and commercialized a promising technology described by Popular Science magazine as “the Top 100 Inventions of the Millennium” and nurtured it into an internationally recognized household name. In the many markets it serves, V-Kool is the dominant player by market share and brand awareness, a result of the Group's success in brand creation and management, marketing and distribution.
Mr. Andrew Kwan, a Director at Novomatrix Holdings, comments, “Today marks a new chapter in the Group's exciting history. From its early beginnings as a niche player in the premium segment of the window film market to its current standing as a globally recognized market leader, the Group seeks to fuel augmented growth in the industry it serves. The partnership with Mulberry Asia Fund provides us access to value added capital and eminent management expertise. We are optimistic of the Company's outlook in the years ahead – anchored by our established brands, exclusive distribution channels and an increasing demand for proven energy saving products which are underpinned by rising energy costs.”
“We are pleased to have invested in Novomatrix, with its unrivalled brands and technology, proprietary distribution, and robust growth potential.” says Mr. Kenneth J.H. Tan, a partner of Mulberry Asia Fund. “We are particularly attracted to the management team who has built a distinctive franchise in this exciting industry.”
The acquisition by Novomatrix Pte Ltd was completed on 29 January 2007.
ABOUT GLOBAMATRIX HOLDINGS PTE LTD
Globamatrix Holdings Pte Ltd (“GMX”) is a privately held entity, with key investments in the Window Film and Food & Beverage businesses. It is a brand developer; creating and owning distinguished trademarks such as V-KOOL Ò , Huper Optik Ò , Sun-X Ò and Pastamania Ò under its stable.
Apart from the window film business, the GMX group owns, operates and franchises 29 Pastamania Ò restaurants in Singapore, Dubai, Kuwait and Indonesia. It employs 350 staff members and has its headquarters in Singapore with regional offices in Houston, Dubai, Shanghai, Beijing and Shenzhen. The GMX group has won several accolades including the Enterprise50, Fastest Growing 50, Franchise Excellence and Most Promising Brand awards over the years.
ABOUT MULBERRY ASIA FUND
Mulberry Asia Fund is a private equity fund, which invests in leading businesses, partnering with successful management teams in differentiated high-growth companies. Founded in 2004, Mulberry Asia Fund makes private equity investments on a pan-Asian basis, contributing both capital and management expertise with the objective of maximizing operational and shareholder value. Mulberry Asia Fund's investors comprises of leading global financial institutions, including banks, insurance companies and government investment entities, corporate investors and high net worth individuals. Its principals and advisors include former and current Chairmen and CEOs of some of Asia's largest companies, business and government leaders, senior management and strategy consultants. |
