65 Equity Partners

TDConnex

TDConnex is a leading global precision manufacturer which provides cutting-edge engineering and manufacturing services to global technology leaders. Founded initially as a subsidiary business unit of the Tongda Group, a Hong-Kong based diversified conglomerate listed on the Stock Exchange of Hong Kong, TDConnex’s leading-edge, micro-precision components can be found in over a billion technology products worldwide today. Post-investment, TDConnex has been carved out as a newly independent company headquartered in Singapore, with independent operations, profitability, and a strong set of global leaders as customers. It has production sites in both China and India.

Who we partnered with?

65 Equity Partners partnered with (i) TDConnex’s CEO Thanga Venkatachalam and his senior management team, and (ii) Novo Tellus Capital Partners, a Singapore-based private equity firm specializing in the mid-market technology and industrial sectors, in the acquisition of 100% of TDConnex to support its continued pursuit of manufacturing excellence to serve global technology leaders.

What attracted us to the business?

We are attracted to TDConnex’s differentiated, market-leading and comprehensive engineering capabilities and its strong track record of manufacturing excellence. It is well-positioned to capitalize on secular tailwinds from global supply chain evolution, together with attractive end market demand driven by continued trends towards miniaturization, premiumization and the Internet of Things (IoT).

Our value creation strategy

Partnering with the management team of TDConnex and Novo Tellus, we aim to leverage our local and international footprint to support the business in accessing new markets, deepening supply chain and new product development. We also aim to work closely with the management team on a wide range of organic and inorganic growth initiatives.

Website

https://www.tdconnex.com

A premier oncology and cardiology group in Asia

65 Equity Partners has invested in Tamarind Health Limited (“Tamarind Health”), a premier oncology and cardiology group in Asia, encompassing the medical practices set out below.

OncoCare Medical (“OncoCare”) is one of the largest private oncology practices in Singapore, providing comprehensive consulting, diagnosis, and treatment services across various subspecialties.

Novena Heart Centre (“NHC”) is one of the leading multi-disciplinary cardiology group practices in Singapore, specializing in coronary intervention, heart rhythm management, heart failure, cardiac imaging, and cardiothoracic surgery.

Since our investment in the Platform, the Platform has further acquired 4 other assets, including Icon Cancer Centre Hong Kong (“Icon HK”), Singapore Breast Surgery Center (“SBSC”), Central Luzon Integrated Oncology Centre (“CLIOC”) and Can-Care.

Icon HK is a premium oncology cancer centre group in Hong Kong, providing a full suite of oncology services across various cancer types, including medical oncology, radiation oncology, wholesale pharmacy, and colorectal surgical services.

SBSC is an integrated breast cancer care group in Singapore, operating under the brands Solis and Luma, covering the entire breast cancer theragnostic process, including screening, diagnostic imaging, pathology and surgery services.

CLIOC is a leading oncology clinic located in Mother Teresa of Calcutta Medical Center in San Fernando, Philippines, providing tomotherapy and chemotherapy services.

Can-Care is a retailer and distributor of post-cancer care products, operating out of four retail outlets in Singapore and Malaysia, as well as 22 distributor outlets in various jurisdictions.

Who we partnered with

65 Equity Partners partnered with Templewater, a Hong Kong-based private equity firm, on the establishment of the Platform and its initial acquisition of OncoCare and NHC. 65 Equity Partners is dedicated to collaborating closely with doctors and management to maintain the Platform’s high standards and support its international expansion.

What attracted us to the business

The Platform has quality business fundamentals stemming from its market leading practices and specialists. It is well-positioned to capitalize on the regional secular tailwinds of an aging population, the rise in private healthcare spending, and Singapore’s status as a leading medical hub. We are excited about the opportunity to work with our shareholder partner and doctors to grow the group into a leading regional healthcare platform headquartered in Singapore.

Our value creation strategy

We aim to leverage our connections in the Singapore and Southeast Asia healthcare sector as well as our international market access to support both organic and inorganic growth initiatives, to enhance operations, and to build a leading specialty healthcare platform delivering best-in-class healthcare services to an even broader patient base in the region.

Website

https://oncocare.sg/

https://www.novenaheartcentre.com.sg/

Felix Storch, Inc.

Founded in 1969, Felix Storch, Inc. (“FSI”) is a value-added provider of branded, custom-engineered specialty appliances designed to meet unique size and batch specifications for the residential, healthcare, commercial, and hospitality markets. FSI operates under several recognized appliance brands including Summit Appliance, a leading provider of specialty refrigeration and cooking appliances for residential and commercial applications, and Accucold, which specializes in cold storage equipment for the medical, pharmaceutical, laboratory, and life science industries. FSI’s founding family still runs the business and continues to own a significant stake in the company. The company operates facilities in the Northeast of the United States and leverages its global supply chains to serve the
North American market.

Who we partnered with

65 Equity Partners is partnering with FSI’s long-tenured management team which is led by the CEO Mr. Paul Storch.

What attracted us to the business

FSI’s unique fulfillment model, value-added customization capabilities, and globally diversified supply chains have contributed to their differentiated value proposition and niche market leadership within the specialty appliances industry. FSI is also well positioned to capitalize on secular demand tailwinds for increasingly specialized, purpose-built products across end-markets.

Our value creation strategy

We aim to work closely with the FSI team to enhance organizational growth initiatives across new products, strategic brands, and core end markets.

Website
www.felixstorchinc.com

AvePoint

AvePoint is a market leading global provider of a cloud-native software platform that optimises SaaS operations and secures collaboration for Microsoft, Google, Salesforce and other productivity platforms. The company modernises customers’ digital workplaces via both SaaS and on-prem software solutions to enterprises, mid-market, SMB (small and medium businesses) and government customers worldwide. AvePoint’s global channel partner program includes service providers, value-added resellers and systems integrators, with their solutions available in cloud marketplaces, while being one of the largest independent software vendors within the Microsoft ecosystem. It is currently traded on the NASDAQ Stock Market under the AVPT ticker.

Who we partnered with

As a shareholder of AvePoint, 65 Equity Partners will support the AvePoint management team in the company’s next phase of growth and proposed eventual dual listing on the Singapore Exchange.

What attracted us to the business

AvePoint is a leading global player in the sizable and growing data security and governance market. We are confident that AvePoint is well-positioned to strengthen its leadership in this space with its well-built product offerings, high quality sales coverage and strong integration and deployment capabilities to serve tomorrow’s businesses with increasingly complex needs.

Website
https://www.avepoint.com/