Navis Capital Partners, a private equity firm focused on Southeast Asia, is considering a sale of its controlling stake in leather and sustainable materials supplier ISA TanTec, according to people familiar with the matter.
(Bloomberg) — Navis Capital Partners, a private equity firm focused on Southeast Asia, is considering a sale of its controlling stake in leather and sustainable materials supplier ISA TanTec, according to people familiar with the matter.
A transaction could value the Macau-based business at about $300 million to $400 million, the people said, asking not to be identified because the matter is private. Other investment firms and industrial players could be interested in acquiring the company, the people said.
Founded in 1995, ISA specializes in sustainable leathers and materials for footwear, handbags, apparel and accessories, according to its website. It works with brands including Clarks, Cole Haan, Dr. Martens, The North Face and Timberland. The company runs manufacturing facilities in the US, Vietnam and China.
Considerations are preliminary and Navis could still decide to retain the asset for longer, the people said. A representative for Navis declined to comment.
In 2016, Navis acquired a controlling stake in ISA for an undisclosed amount, while the founders and some senior management retained minority stakes and co-invested with the private equity firm.
Navis was founded in 1998 by three former Boston Consulting Group professionals and has a focus on Southeast Asia, its website shows. It counts about $5 billion of private equity capital commitments.
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