Partners Group to sell Trimco International to Affinity Equity
Tuesday, January 23, 2018
(Press Release) – Partners Group said Jan. 23 that it has agreed to sell Trimco International Holdings Ltd to Affinity Equity Partners for $520 million. Trimco, of Hong Kong, provides garment labels, tags and trimming products to the apparel sector. Partners Group said the sale generated a 3.4x return on its original investment. Goldman Sachs (Asia) LLC acted as sole financial adviser and Clifford Chance as legal adviser.
Partners Group to exit Trimco, a global provider of labels and brand identification solutions to the apparel sector Partners Group, the global private markets investment manager, has agreed the sale of Trimco International Holdings Limited (“Trimco” or “the Company”), a Hong Kong-headquartered apparel-labeling producer, on behalf of its clients. The Company will be acquired by funds advised by Affinity Equity Partners for a total consideration of USD 520 million, generating a 3.4x return for Partners Group on its original investment.
Founded in Hong Kong in 1978, Trimco provides a full range of garment labels, tags and trimming products to blue chip apparel brands and retailers worldwide. Partners Group acquired Trimco on behalf of its clients in May 2012 and has subsequently worked alongside the senior management team, led by Miranda Kong, the Group CEO and Founder, to oversee a period of expansion in which the Company quadrupled its business and grew from an Asia-centric manufacturing specialist into a global leader in its field. Trimco currently serves more than 500 clients worldwide and has grown from 400 employees in 2012 to more than 1,450 employees today.
