TWC Capital advises Hela on major FDI deal
View(s):TWC Capital, a leading corporate finance advisory firm under TWC Holdings, successfully served as the sole financial adviser to Hela Apparel Holdings PLC on its divestment of two, running garment factories in Mawathagama and Narammala including a freehold property with a warehouse in Uhumeeya to Q Collection Pte Ltd, a Singapore-based investor backed by Bangladeshi interests.
TWC Capital successfully managed the structuring of this transaction, considering the complex financial and strategic requirements of Hela Group, by working closely with the Board of Investment (BOI) in order to obtain the regulatory approvals to close the deal, TWC said in a media release.
The fact that this transaction was closed during a time of global uncertainty is a testament to TWC Capital’s experience and understanding of policy and regulatory issues that arise during cross-border transactions. TWC Capital led discussions with the BOI to ensure full regulatory compliance and secured this significant foreign direct investment at a time when Sri Lanka’s apparel exporters are under pressure from global headwinds, including a 44 per cent tariff on US imports affecting around 40 per cent of the country’s garment exports.
This acquisition not only injects much-needed capital into Hela but also underscores the resilience and appeal of Sri Lankan apparel manufacturing assets for long term investors.
Founder and Chairman, TWC Holdings, Thilan Wijesinghe, stated: “This investment reflects continued regional interest in Sri Lanka’s apparel sector and a re-alignment of regional export manufacturing capacity amid shifting global and regional dynamics.”
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