FAS advised MAKESEND on raising growth capital

Mazars in Thailand, a leading audit and financial advisory firm, is pleased to announce that Mazars’ financial advisory services (“FAS”) team provided advice to the shareholders of Makesend (Airportels) which resulted in successfully raising growth capital through an investment made by Triple I Logistic Public Company Ltd.

Keywords: Mazars, Thailand, Financial advisory services, FAS, Logistics

15 March 2021

Mazars was appointed by the shareholders of Makesend Express Co. Ltd./Airportels Co. Ltd. to provide sell-side advisory services in order to raise pre-series A capital for the Company. Airportels is one of the major shareholders of Makesend. The deal was led by Mazars in Thailand’s FAS team. Mazars presented the opportunity to invest in Makesend/Airportels to Triple I Logistics, which is a publicly listed company in Thailand. Triple I acquired 120,000 newly issued common shares, or 30% of all common shares, for an undisclosed price on a post-money valuation of Makesend. In addition, the Board of Directors of Triple I Logistics approved the appointment of the authorized directors and Chief Executive Officer of Makesend Express Co. Ltd.

Prasen Chakraborty, head of FAS, said “Makesend has a strong management and we are pleased to help the management with the capital-raising process. Mazars’ FAS team will continue focusing on Thai-based SMEs to provide strategic advice in order to assist in their growth.“