M Power Capital celebrates a year in business
View(s):M Power Capital Ltd (MPC), the Colombo-based corporate finance advisory and private equity group, has completed its first year of operation during which it handled some significant deals. Located at Horton Place, M Power Capital was established by a group of experienced industry experts with operational specialisation in diverse fields. The team’s primary areas of specialisation include Banking and Investment Banking,RiskManagement, Property Development, Civil Engineering and Construction, Telecommunications, Apparel Manufacturing, Gem and Lapidary Trade, Manufacturing and Retail Merchandising, according to a company media release.
MPC Chairman Anil Cooray
M Power’s key strengths are preparing client companies for disposal and then executing the transaction, advising buy-side investors (corporate and individual) on a potential acquisition until execution, corporate restructuring, project finance and arranging funding. MPC is also geared to manage IPOs and Private Placements.
MPC Chairman Anil Cooray stated, “Financial markets in Sri Lanka have experienced unprecedented change over the past few years, particularly after the ending of the long civil war in 2009. This has created a number of new challenges for corporates across different industries. With access to experienced and qualified foreign professional partners, our team of investment bankers are fully geared to simplify what would normally appear to be a very complex or time-consuming transaction”.
Recalling the first year in operation, Mr. Cooray said, “Using our broad experience across many industries, we were able to lay a solid foundation for future growth while also being actively involved in a few significant deals”. One of the key highlights was when Sarasavi Exports (Pvt) Ltd, a supplier to major high street retailers in the United Kingdom, approached MPC for financial and transactional advice on the acquisition of Isabella (Pvt) Ltd, a subsidiary of the DB Apparel Group, the market leader in branded intimate apparel and hosiery in Europe.
“The Sarasavi-Isabella deal was indeed a good indicator of how much confidence clients were ready to place in us, taking into consideration our team’s collective experience,” he said. MPC also managed the end to end transaction process including conducting the negotiations with Sun Capital Partners, one of the largest private equity firms in Europe and the parent company of the DB Apparel Group. This also allowed Sun Capital Partners to dispose of their stake in DB Apparel to Hanes Brands, which is a hosiery giant incorporated in the USA. MPC continues to provide finance advisory services, post-acquisition, to Isabella (Pvt) Ltd.