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KKR completes acquisition of Singapore’s Goodpack
IBC Capital, an affiliate of global investment firm KKR, has completed the acquisition of Goodpack. As part of the acquisition, Goodpack was delisted from the Singapore Exchange Securities Trading on September 15 2014.
The Asset 16 Sep 2014
IBC Capital, an affiliate of global investment firm KKR, has completed the acquisition of Goodpack. As part of the acquisition, Goodpack was delisted from the Singapore Exchange Securities Trading on September 15 2014.
 
Goodpack’s management team will look to leverage KKR’s global network to increase sales in existing markets and will also benefit from the expertise of KKR Capstone, an independent team of operational executives who work exclusively with KKR and its portfolio companies to identify opportunities to unlock and create greater value.
 
Goodpack’s strong environmental thesis complements KKR’s commitment to incorporating environmental, social, and governance (ESG) considerations into its decision-making and management practices, a company statement said. Goodpack’s intermediate bulk containers (IBCs) are made of high tensile steel that can be reused multiple times over the course of 10 or more years compared to typical wood or corrugated packaging that is used once and then disposed. With more than 3.3 million Goodpack IBCs in circulation across 70 countries and over 5,000 delivery and collection points, the former can be hired locally and returned globally.
 
David Lam, executive chairman of Goodpack, said, “This partnership with KKR will be transformational. KKR has a proven track record of driving operational improvements and sustainable long-term growth, as well as expertise and experience in enhancing the performance of logistics firms. We envision that together we will be able to deliver greater value to existing customers, and also expand into new customer segments.”
 
The acquisition of Goodpack is KKR’s first transaction in Singapore since KKR established its Southeast Asia headquarters in the country in 2012. Prior to the establishment of its Singapore office, KKR invested in local companies such as MMI Holdings in 2007 and Unisteel Technology in 2008, as well as invested in domestically-listed United Envirotech in 2011.
 
 

    

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