Mekong Enterprise Fund III completed the investment in ABA Corporation
Ho Chi Minh City, Vietnam (August 04, 2016), Mekong Capital announced that the Mekong Enterprise Fund III (“MEF III”) invested in ABA Corporation (“ABA”). This is the second investment announced for the Fund.
Mr. Luong Quang Thi, Founder, and CEO of ABA, said:
“We are excited and confident in this partnership. Mekong Capital becomes ABA’s companion as we shared common cultures and values with a long-term strategic vision. This combination facilitates us to strengthen our management team, approach to the world’s best practices and improve service quality to ready us for a rapid and sustainable growth.”
Mr. Chad Ovel, Partner of Mekong Capital, said:
“We are very excited about the Fund’s investment in ABA. The company has established itself as a leading cold chain transport service and solution provider in Vietnam. The company’s competitive edge is the dedicated management team with a commitment to flawless integrity: right product, right time and right temperature with track record in providing high quality services. We believe that with Mekong Capital’s well proven approach towards adding value as a shareholder, which is based on the Vision Driven Investing framework and extensive network of international experts and resources, ABA will improve their operation, building a stronger management team while deploying world class transportation services best practices. ABA will grow at a rapid pace and compete successfully against multinational competitors.”
Founded in 2008, ABA started as a temperature-controlled transport provider. In 2016, it entered the cold storage business through the acquisition of a cold storage facility in Hanoi with around 12,000 pallet positions. The company is now rapidly evolving towards providing an integrated cold chain logistics service to the Vietnam market.
ABA’s transport business is divided into 03 key segments: (a) temperature-controlled transportation services; (b) delivery services; and (c) distribution services. ABA’s cold storage provides cold storage, cross-docking, and other value-added services.
ABA provides integrated cold chain solutions for products in which temperature control, speed, and safety are crucial factors of success. The products include pharmaceuticals, meats, fruit, vegetables, dairy products, and frozen goods. ABA is committed to provide satisfactory services and form strong and lasting partnerships with their customers with cost-competitive, mutually beneficial cold chain solutions.
The company’s competitive edge is a dedicated management team with a commitment to flawless integrity with delivering and storing the right product, at the right time, and at the right temperature.
ABA is serving several of the largest modern trade retail and consumer goods companies in Vietnam including Big C, VinMart, METRO, Unilever, and BEL.
About Mekong Capital & MEF III
Established in 2001, Mekong Capital is a Vietnam-focused Private Equity firm, which has the most extensive private equity track record in Vietnam. Mekong Capital’s investee companies are typically among the fastest growing and market-leading companies in Vietnam’s consumer-driven sectors such as retail, restaurants, consumer products, and distribution. Mekong Capital commits substantial time and resources to add value to the companies in which its funds invest and has played an important role in the success of many of its past investments.
Launched in May 2015, MEF III is a private equity fund, and currently has $112.5 million in committed capital. MEF III typically targets investments ranging from $6-15 million and can make both minority and buy-out investments. MEF III focuses on investments in Vietnamese consumer-driven businesses such as retail, restaurants, consumer products, and consumer services.
MEF III applies Mekong Capital’s well-proven approach towards adding value as a shareholder, which is grounded in the Vision Driven Investing framework and Mekong Capital’s extensive network of international experts and resources.