WWD: Hong Kong Investor EmergeVest Exits Denim Manufacturer After Merger
Aug 10, 2017

JD United Holdings has been merged with Roo Hsing to create a denim manufacturing giant.

DENIM PAYDAY: An investment in JD United Holdings, which makes denim apparel for brands including Levi Strauss, Gap and Fast Retailing, has proven a boon for the Hong Kong-based private equity investor EmergeVest, which specializes in investing in supply chain businesses.

EmergeVest first invested in JDU in 2014, and said it helped the manufacturer to expand, optimize its balance sheet, and finance expansion into new markets and product categories.

It also oversaw the merger with the Taiwanese company Roo Hsing to create a denim manufacturing giant with combined revenue of more than $500 million, one of the largest in the world.

Headquartered in Changzhou, in the province of Jiangsu, China, JDU has 25 manufacturing facilities across Asia and Africa, and also produces apparel for Primark and C&A.

"EmergeVest has enabled us to capitalize on growth opportunities, culminating with the merger with Roo Hsing. We are well positioned for future development," said Richard Sun, chief executive officer at JDU.

EmergeVest said it has completely exited its investment in JDU, generating more than two times invested capital. The value of the deal has not been disclosed.

The investor said EmergeVest has more than $400 million of committed capital and is currently investing the EmergeVest Logistics Fund LP. In the U.K., its portfolio of companies includes NFT Distribution, a leading chilled food and drink logistics group; and Palletforce, a fast-growing pallet distribution network.
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