Fairbridge seeks to acquire significant influence or control positions in Platform Companies who are typically leaders in the industry verticals in which they operate.
Fairbridge works alongside the management teams of each Platform Company to help them achieve their business objectives, with a primary focus on performance evaluation, succession planning, acquisitions and financing.
THOMAS COOK (INDIA) LIMITED
Thomas Cook (India) Ltd (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business. The company set up its first office in India in 1881.
The Thomas Cook India Group spanning 21 countries across 4 continents, a team of over 198,500 and a combined revenue in excess of Rs. 8700 crore (over $ 1.34 billion), operates leading B2C and B2B brands including, Thomas Cook, SOTC, TCI, Sita, Asian Trails, Allied T Pro, Australian Tours Management, Desert Adventures, Travel Circle International Limited, Private Safaris East & South Africa. The Group is today one of the largest travel service provider networks headquartered in the Asia-Pacific region.
TCIL is listed on both the Bombay Stock Exchange and the National Stock Exchange. Fairfax acquired a stake in the publicly-listed India operations of Thomas Cook UK in 2012 for an investment value of Rs. 9,626 mn.
For additional information, please see www.thomascook.in
QUESS CORP LIMITED
Quess, India's leading integrated business services provider, was established in 2007. Headquartered in Bengaluru, the company has a pan-India presence with 65 offices across 34 cities along with overseas footprint in North America, the Middle East and South East Asia. It serves over 1700+ customers across 5 segments namely, Industrials, Integrated Facility Management, People Services, Global Technology Solutions and Internet Business and has over 2,50,000 employees.
Quess is listed on both the Bombay Stock Exchange and the National Stock Exchange. Thomas Cook invested Rs. 2,592 mn for a 74.85% stake in Quess Corp Limited in May 2013. In November 2017, Thomas Cook sold 5.42% stake in Quess through Offer for sale process (OFS). Currently, Thomas Cook owns 49% stake in Quess.
For additional information, please see www.quesscorp.com
STERLING HOLIDAY RESORTS (INDIA) LIMITED.
|Sterling Holiday Resorts Limited is a pioneer in Vacation Ownership and a leading Leisure Hospitality company in India. Sterling Holidays was incorporated in 1986 with the vision of delivering Great Holiday experiences to Indian Families. To achieve this vision, the company pioneered Vacation Ownership in India and set about building a network of leisure resorts at some of the best holiday destinations in India. Currently, Sterling Holidays has a total inventory of 2,077 rooms spread across a network of 29 resorts in 26 scenic holiday destinations in India.
Thomas Cook acquired Sterling Holiday Resorts for a consideration of ~Rs. 8,665 million in 2014. Currently, Thomas Cook (India) Limited owns 100% of Sterling.
For additional information, please see www.sterlingholidays.com
NATIONS TRUST BANK
|Nations Trust Bank PLC is a Sri Lanka based licensed commercial bank, established in July 1999 upon the acquisition of the Colombo Branch of Overseas Trust Bank Ltd. Nations Trust offers personal, business and corporate banking services, through 93 branches, 137 ATMs and 53 leasing centres across Sri Lanka.|
Fairfax initially invested ~$9 million in Nations Trust Bank in April 2013. Thereafter, it invested an additional ~$9 million in October 2014 for a combined equity stake of 15%. Nations Trust Bank is listed on the Colombo Stock Exchange.
For additional information, please see www.nationstrust.com
IIFL HOLDINGS LIMITED
|IIFL Holdings Limited is the parent holding company for the IIFL Group and offers services including financing, wealth and asset management, broking, financial product distribution, investment banking, institutional equities, and realty and property advisory services through its various subsidiaries. IIFL Holdings has a global presence with offices in London, New York, Toronto, Geneva, Hong Kong, Dubai, Singapore and Mauritius. Within India, it serves over 4 million customers across 2,250 service locations.
Fairfax has been a shareholder of IIFL since 2010. In 2015, Fairfax India made an open offer pursuant to which it acquired 21.85% stake in the Company at Rs. 13,400 mn. In February 2017, Fairfax India acquired additional 5% stake in IIFL for Rs. 5,100 mn. Currently, Fairfax group holds 35.49% stake in IIFL.
On January 31, 2018 IIFL's board of directors approved a draft plan to reorganize IIFL into three listed entities (the "reorganization") consisting of IIFL Finance (currently known as IIFL Holdings Limited comprised of the loans and mortgages businesses), IIFL Wealth (comprised of the wealth, asset management and alternative investment fund businesses) and IIFL Securities (comprised of all other IIFL businesses including investment brokerage, distribution and investment banking). Shares of IIFL Finance, IIFL Wealth and IIFL Securities will be traded on the BSE and NSE of India as listed public companies. Completion of the reorganization is anticipated in late 2018 or early 2019, subject to customary closing conditions and applicable regulatory approvals.
For additional information, please see www.indiainfoline.com
5paisa Capital Limited
|On October 20, 2017 IIFL spun-off its wholly-owned subsidiary 5Paisa Digital Undertaking through the formation of a new public company, 5paisa Capital Limited, listed on the BSE and the NSE of India effective November 16, 2017.
5paisa Capital Limited ("5paisa"), located in Mumbai, India, is a publicly traded, online financial services provider with a do-it-yourself-based investment brokerage model where the customer can execute investment transactions for a low brokerage fee. 5paisa is engaged in providing an online technology platform through Internet terminals and mobile applications for trading securities on the BSE and the NSE of India.
Currently, Fairfax group holds 35.49% stake in 5Paisa.
For additional information, please see www.5paisa.com
NATIONAL COLLATERAL MANAGEMENT SERVICES
|National Collateral Management Services Limited (NCML) a leading commodity based service provider, offering storage and preservation, procurement and supply chain, collateral management, rural and agri-business finance, and testing and certification services and commodity and weather intelligence consulting services. Currently, Fairfax India owns 89% stake in NCML acquired for a consideration of Rs. 11,318 mn.
For additional information, please see www.ncml.com
FAIRCHEM SPECIALITY LIMITED
(Formerly known as ADI FINECHEM LTD.)
|Fairchem Specialty Limited (formerly known as 'Adi Finechem Limited') is a specialty oleochemical and nutraceutical manufacturing company situated near the city of Ahmedabad in western India. Fairchem utilizes state of the art technology to produce oleochemicals and nutraceuticals which have applications in the manufacturing of resins for paints, inks and adhesives.
Fairfax India acquired ~44.9% stake in Fairchem Speciality Limited for a consideration of Rs. 1,314 mn in 2016. In March 2017, Privi Organics Limited was merged with Fairchem Speciality Limited. Post merger, Fairfax India owns 48.8% of Fairchem Speciality Limited on a fully diluted basis.
Fairchem is listed on both the Bombay Stock Exchange and the National Stock Exchange.
For additional information, please see www.fairchem.in
PRIVI ORGANICS LIMITED
|Privi Organics Limited is one of India's leading manufacturer, supplier and exporter of aroma chemicals, consisting of a range of over 50 products and having a capacity of over 24,500 tons per annum of aroma chemicals. Privi also develops and produces custom-made aroma chemicals as per specific requirement of the customer.
Fairfax India acquired ~50.8% stake in Privi Organics Limited for a consideration of Rs. 3,686 mn in August 2016. In March 2017, Privi Organics Limited was merged with Fairchem Speciality Limited.
For additional information, please see www.privi.com
THE SANMAR GROUP
|Sanmar Chemicals Group is one of the largest suspension PVC manufacturers in India, with an installed capacity of almost 300,000 tons per annum. In addition, Sanmar is in the process of expanding its PVC capacity in Egypt, with a view to becoming one of the largest PVC companies in the world. Sanmar also manufactures caustic soda, chloromethanes, refrigerant gases, industrial salt and specialty chemical intermediates. Fairfax India invested Rs.19,968 million in Sanmar Group for debt securities and 30% ownership interests in 2016.
For additional information, please see www.sanmargroup.com
SAURASHTRA FREIGHT PRIVATE LIMITED
|Saurashtra Freight Private Limited (SFPL) runs the largest CFS at Mundra Port (Gujarat), the 2nd largest and fastest growing port in India. SFPL has ties with leading & prestigious shipping lines, importers and exporters. SFPL provides services such as moving of containers to and from the port, stuffing/destuffing of containers, cargo storage and transportation of cargo to the end customer as well as storage, maintenance and repair of empty containers.
Fairfax India acquired 51.0% stake in SFPL for a consideration of Rs. 2,000 mn in February 2017.
For additional information, please see www.saurashtracontainers.com
BANGALORE INTERNATIONAL AIRPORT LIMITED
|BIAL is the 3rd largest airport in India and is the largest airport in South India. BIAL is situated approximately 40 kms north of Bangalore's central business district. BIAL replaced the old Bangalore airport in 2008. BIAL is one of the fastest growing airports in the country and is in a pre-eminent position to become the gateway into South India.
BIAL has three potential sources of revenues:
Fairfax India acquired 38% stake in BIAL for a consideration of Rs. 25.22 bn in March 2017. Fairfax India acquired an additional 10% stake in BIAL for a consideration of Rs. 12.9 bn in July 2017. As at 30 September 2017, Fairfax owns 48% stake in BIAL.
- Aero revenue
- Non-aero revenue
- Real estate monetization
For additional information, please see www.bengaluruairport.com