ANEW Corporation Ltd is an internet-service provider based in Thailand. In 1998 the Company was in great need of external capital due to some financial difficulties it was going through.
After discussions between the Company and Rolf Hess, he conducted a due diligence and a valuation of the business. Although the market was quite tough and no other interest for investing was present, Rolf decided to proceed with an investment of USD 2m for a 40% stake in the business.
Within two years, the business turned around.
- Transaction date: August 1998
- Company market position: Improved from 3rd in August 1998 to 2nd by December 2000
- Number of employees: Increased from 87 in August 1998 to 141 in December 2000
- Successful turnaround of the business
- Proceeds on exit: USD 8.6m by December 2000