Dimon Asia acquires the Singapore subsidiary of German lifting equipment company Salzgitter

SINGAPORE, Aug 26 (Reuters) – Southeast Asian-focused private equity firm Dymon Asia said Friday it is buying RAM SMAG Lifting Technologies Pte, the Singapore arm of German lifting equipment maker Salzgitter Maschinenbau Group (SMAG). Ltd.
However, the parties did not disclose the financial details of the deal in a joint statement.
The acquisition marks Singapore-based Dymon Asia’s first cross-regional deal since its inception in 2012, and is linked to a surge in container traffic around the world due to supply chain disruptions and congested ports.
RAM SMAG Lifting, better known as RAM Spreaders, manufactures spreaders for the maritime container handling equipment market. The report said the company, founded in 1972, operates in 11 countries and has manufacturing facilities in China.
Dymon Asia includes Dymon Asia Private Equity (SE Asia) Fund with over S$300m ($215.78m) capital commitments and Dymon Asia Private Equity (SE Asia) Fund II with $450m, said in a statement .
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Spreader-for-Freight-Container (4)

Post time: May-24-2023