Mr. Nirmal Madanayake

Sole shareholder of Atlas Axillia   


Atlas Axillia

Sri Lanka’s leading distributor and manufacturer of stationery with ~50% market share


Hemas Holdings PLC

Large listed Sri Lankan conglomerate operating in FMCG, healthcare, logistics and leisure 

Deal Size:US$ 38m 
(Enterprise Value: US$ 51m)
Context:The sole shareholder decided to divest Atlas Axillia and engaged a local investment bank in 2015. This process did not yield a successful transaction. Consequently, Asia Securities was engaged in March 2017 and concluded the transaction in January 2018
Asia Securities’ RoleExclusive sell side advisor, managing all aspects of the transaction, including buyer targeting, diligence, negotiations and closing
Transaction StrategyA targeted solicitation based on a deep understanding of the buyer’s FMCG focus and acquisitive ability
Transaction outcome
  • Seller achieved required valuation
  • Swift execution
  • Transaction confidentiality maintained