Carlyle eyes bolt-on acquisitions in Malaysia
Carlyle Group LP expressed it interest in bolt-on acquisitions in Malaysia. The potential buys are for its partly-held companies in the Middle East and North Africa (MENA). This was according to a report published by Reuters today.
Carlyle Group LP is a global asset management firm based in Washington. The company based its decision for bolt-on acquisitions on its purchase of a local company in Malaysia last year. Carlyle bought lighting manufacturing firm Davex Holdings Bhd for USD60 million. This was for its partly-held Saudi Arabian company General Lighting Co, the report said.
In an interview with the Malaysian Reserve last month, MD and co-head of the Carlyle Group's buyout team Firas Nasir said: "We are constantly looking for bolt-on acquisitions. I would not be surprised if there is anything next year. We had a very good experience in Malaysia with the acquisition of Davex. The rules here are very clear and transparent."