TPG – TPG leads consortium to back APM Monaco
Buyout major TPG has led a consortium of investors to buy a 30 per cent stake in Hong Kong-headquartered jewellery brand, APM Monaco. The consortium includes China Synergy which was launched by TPG and CICC Capital earlier this year and French PE house, Trail. APM was founded in 1982 and manufacturers contemporary jewellery for global markets with a significant presence in Asia. The company had opened approximately 200 stores in 26 countries by the end of last year. The deal is believed to value the business at around $800m, a person with direct knowledge of the transaction told Reuters.