BDA advises Fedders on the divestment of Fedders Koppel, Inc. in the Philippines
Divested Phillipines-based subsidiary, Fedders Koppel Inc to KPL Aircon, Inc
Business Development Asia LLC (“BDA”) is pleased to announce that Fedders Corporation, a global leader in air treatment solutions, has completed the divestment of its Philippines-based subsidiary, Fedders Koppel, Inc. (“Koppel”) to KPL Aircon, Inc., a company incorporated in the Philippines. BDA acted as joint adviser to Fedders alongside Chanin Capital Partners, LLC (“Chanin”) on this transaction.
On August 22, 2007 Fedders and its North American operations filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Chanin and BDA were jointly retained by the company to explore strategic options, including the divestment of all operating units. In January 2008, Fedders Islandaire, Inc. was divested to Robert E. Hansen, Jr. In February 2008, Fedders Addison Corporation was divested to Roberts-Gordon LLC. In March 2008, Fedders’ US residential heating, ventilation and air conditioning business, including its Shanghai-based R&D center, was sold to Elco Holdings Ltd. In May 2008, Tomkins-ASCIC-Ruskin, a joint venture between Tomkins Plc, Air Systems Components Investments China and Ruskin Air Management, acquired the Indoor Air Quality (“IAQ”) business unit of Fedders. With the completion of the Koppel sale, all significant operating units of Fedders have now been divested.
About Business Development Asia
Business Development Asia LLC was founded in 1996. BDA assists multinational corporate and financial sector clients to identify and execute acquisitions, divestments, JVs, restructuring and capital raising, in Asia and internationally. The company is headquartered in New York with offices in London, Bahrain, Mumbai, Hong Kong, Shanghai, Seoul, and Tokyo. BDA employs 55 full-time professional staff across its eight offices, supplemented by a team of senior advisors around the world. BDA’s client list includes Air Products, Cadbury Schweppes, Celestica, DIC, DuPont, Ecolab, Global Power, Godrej, Great Lakes, Hanjin Shipping, Hercules, Huntsman, Inabata, Kimberly-Clark, Lear, Lubrizol, Mars, Molex, Morgan Stanley, Nalco, Reuters, Rohm & Haas, Ryder, SigmaKalon, Sumitomo Chemical, Sun Chemical, TATA Auto Components, Tenneco, Tredegar, Visteon, WR Grace, and the British Government. Further information on BDA is available at www.bdapartners.com.
BDA Transaction Team
Charles Maynard, Senior Managing Director, New York, email@example.com
Lydia Xu, Assistant Director, Shanghai, firstname.lastname@example.org
Sanzhong Zheng, Assistant Director, Shanghai, email@example.com
Sora Ahn, Senior Associate, New York, firstname.lastname@example.org
Tsun Chen, Associate, Hong Kong, email@example.com
For more information regarding this transaction, please contact Charles Maynard in New York at (1) 212 265 5300 or Paul DiGiacomo in Hong Kong at (852) 9186 4170.
Divested minority stake in In Do Trans Logistics to Mitsubishi Logistics
Divested Doosan Babcock Limited to Altrad
Divested Honour Lane Shipping to Nexus Point
Divested TES to SK ecoplant
Acquired NEC Energy Solutions from NEC Corporation
Raised US$50m in Series B capital and formed a strategic partnership with ANZ
Divested ELEVATE to LRQA
Divested stake in Al Dur Power & Water to Kyushu Electric
Divested 100% to EagleTree Capital
Divested 100% to by Escalent
Divested Hyosung Capital to ST Leaders Private Equity
Acquired EMC Holdings from Affirma Capital
Acquired by The Blackstone Group
Divested equity stake in Xinbang Logistics to HCT Logistics
Divested Kolon Water & Energy to SCPE
Divested Yuanyu Radio Advertising to Management / Orient Securities
Acquired Barclay Vouchers in Japan
Acquired majority stake of Realys Group in China
Acquired Lablndia distribution business in India
Divested HCL Asia to the DKSH Group