Dymon Asia Private Equity has successfully sold Asia Medical Enviro Services (AMES), a biohazardous waste disposal business based in Singapore, to Indonesia-listed coal miner TBS Energi Utama.
The sale was completed on August 29th, 2023, and marks Dymon’s exit from the business. AMES was founded in 2012 and provides medical waste management services to hospitals, clinics, laboratories, and other healthcare facilities across Singapore.
The company has been a part of Dymon’s portfolio since 2018 when the private equity firm acquired a majority stake in the business. Since then, Dymon has worked closely with AMES to expand its operations and improve its services.
The sale of AMES is part of Dymon’s strategy to exit its portfolio companies and return capital to its investors. Dymon Asia Private Equity closed its third fund at $650m in October 2022, and the firm has been actively seeking exit opportunities for its portfolio companies. The sale of AMES is the latest in a series of successful exits for Dymon, which has a track record of delivering strong returns to its investors.
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