Description

Established in 1987 in Indonesia, the Company focuses on Fabrication and Engineering Services including but not limited to fabrication of Shell & Tube Heat Exchanger, Air-Cooled Heat Exchanger, Internal Column Parts, Process Fired Heater, Storage & Spherical Tanks and many variety of Pressure Vessels.

The Company services the Oil & Gas Industry, Petrochemical Plants, Power Plants, Fertilizer Plants, Chemical Plants, Pulp & Paper factories, and the Ship Building Industry.

The Company works with suppliers from all over the world, including US, Europe and the Far East.

The Company’s primary client is Pertamina, the state-owned oil & gas company, in addition to other oil & gas giants such as PetroChina, Chevron, etc. Due to the heavy requirements for the Company’s products in the Oil & Gas Industry, this industry represents the majority of the Company’s revenues, with some exposure to the Infrastructure industry during 2015. Foreign multinational clients (such as: Chiyoda Corporation Japan, SCG Thailand, Clough Australia, etc.) approach the Company through local EPCs.

The Company started with 30 employees and today has 250 of which 10 are key managers and 67 are administrative. The Company is ISO certified and is known for its know-how and credibility with Clients and Banks.

Financial Highlights: Figures in IDR Billion
Year Revenue EBITDA
2012A 152 12.6
2013A 134 13.4
2014A 134 12.1
2015A 226 19.1
2016P 208 11.2
2017F 223 15.2
2018F 245 16.8
2019F 270 17.9

Transaction:
Company is valued at $10mn (IDR 133bn) and is looking for a strategic partner to acquire minority or majority stake in the Company.
The strategic partner must have the right know-how and technology to help service:
- Other Sectors, specifically the Renewable Energy industry and primarily the Wind energy segment. The Government has provided a 10-yr plan to invest heavily in this industry.
- Other Geographies.

Posted Sep 19, 2016

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