Investee company name:
Sector:
Country of origin:
Region:
Aureos fund:
Total invested:
Date invested:
Investment type:
Dipped Products Ltd
Manufacturing
Sri Lanka
South Asia
Aureos South Asia Fund 1 (ASAsia, F1)
US$3 million
January 2005
Management Buy-Out / PIPE
Dipped Products Limited (www.dplgroup.com) is a Sri Lankan company manufacturing and exporting industrial, medical and household rubber gloves to the US and European markets. Listed on the Colombo Stock Exchange DPL is a vertically-integrated company with its own rubber plantation and marketing subsidiaries. It has around 4% to 5% of the global market, making it one of the world’s top five rubber glove manufacturers with a group turnover of around US$64 million (seven billion Sri Lankan Rupees).
In January 2005 ASAsF1 invested US$3 million in DPL through a special purpose vehicle (SPV) created to enable 115 members of DPL’s senior and middle management to effect a partial management buy-out.
DPL is growing well. In the first nine months of DPL’s 2006/2007 financial year (April to March) profit after tax was up 125% to nearly US$5 million.