In the News: 2010
Lombard Sells Stake in Auto Parts Business Realizing 3x Gain
San Francisco, CA - September 2, 2010
Lombard Investments announced today that it has sold a major portion of its stake in Somboon Advance Technology Pcl, one of Thailand’s leading first-tier Original Equipment Manufacturing (“OEM”) suppliers of auto parts. Lombard invested in Somboon through its Thailand Equity Fund and realized a 3x return. During Lombard’s holding period, SAT grew its car and light truck parts business, expanding its production capabilities, and in response to the global economic crisis, successfully diversified into agricultural equipment parts. The company’s primary products are axle shafts, brake components and springs. Its sales for the first six months of 2010 were approximately $100 million.