Goodrich Global receives a SG$15 million investment from a private equity fund


2014 marks a significant milestone in Goodrich Global’s corporate history…. The Straits Times (Singapore) has officially reported today that Goodrich Global has received a SG$15 million investment from a private equity fund that includes Temasek Holdings among its main investor. The fund is an arm of Dymon Asia Capital, a Singapore based investment management company that manages about US $3.2 billion in assets. Now, Dymon also sits on Goodrich’s Board of Directors.

“We believe there are a lot of Singapore SMEs which have the potential to become regional and international champions, each in their respective industries. In our view, Goodrich is that champion in the interior furnishings industry,” said Dymon Asia.

“The whole idea behind why we want to sell this stake was so that we could tap Dymon’s regional & international network and also their strategic and operational expertise. We wanted fresh ideas as the company is already 30 years old and I am concerned that I will run out of ideas one day so I need fresh perspectives to help us relook our business strategy.” said Mr. Chan Chong Beng, Chairman of Goodrich Global

Moving forward with ambitious targets with this partnership……
Dymon Asia believes that Goodrich could grow its revenues from about SG$90million today to SG$150million in the next 3 to 5 years. At that point, with Mr. Chan’s consent, Dymon could help get Goodrich listed on the stock market. Currently, Goodrich has plans to grow through mergers and acquisitions and is now building a new regional distribution centre in Suzhou, which it hopes will further propel its expansion in China.

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