ECONOMYNEXT - Sri Lanka's Capital Alliance (CAL), an investment bank said it was the sell-side advisor to the sale of Fentons Ltd, a family-owned engineering services company to Hayleys Ltd, a diversified listed business group.
The sale, where Fentons shareholders, the Abhyaratne family, sold a 75 percent stake, valued the company at 960 million rupees.
"Our objective at CAL is to build strong partnerships with our clients based on an intimate knowledge of their needs," Deshan Pushparajah – Head of Investment Banking, CAL said in a statement.
"The company was unique in that it had a rich heritage of almost 100 years carefully nurtured with strong family values.
"As the Abhyaratne family wished to remain as stakeholders in the company post the sale, securing this transaction included a stringent screening process to ensure that the new owner’s value system would seamlessly integrate with that of the family."
CAL said the needs of multiple Fentons shareholders had to be met in finding a match.
The sale, where Fentons shareholders, the Abhyaratne family, sold a 75 percent stake, valued the company at 960 million rupees.
"Our objective at CAL is to build strong partnerships with our clients based on an intimate knowledge of their needs," Deshan Pushparajah – Head of Investment Banking, CAL said in a statement.
"The company was unique in that it had a rich heritage of almost 100 years carefully nurtured with strong family values.
"As the Abhyaratne family wished to remain as stakeholders in the company post the sale, securing this transaction included a stringent screening process to ensure that the new owner’s value system would seamlessly integrate with that of the family."
CAL said the needs of multiple Fentons shareholders had to be met in finding a match.
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