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Development Bank of Japan Invested in GES Inc. - A Global Semiconductor, FPD, and Solar Equipment Service and Manufacturing Company

Posted on: Wednesday, 11 March 2009, 08:00 CDT

SAN JOSE, Calif. and HCM CITY, Vietnam, March 11 /PRNewswire/ -- Global Equipment Services Inc. (GES), today announced an equity investment by DBJ in GES Series B financing round. This round of financing was led by IDGVV - a leading technology venture capital fund in Vietnam, and also participated by Japan's IT-Farm Nozomi Investment Fund. The funds will be used to expand GES' global presence, support development of additional markets, and grow their hi-tech manufacturing/training facilities.

Commenting on the participation of DBJ, Shin Kikuchi, Head of New Business & Technology Finance noted, "Since our privatization, DBJ has put more focus on overseas direct investment projects. We believe that participation in GES is a great opportunity for us to broaden and strengthen our investment portfolio. We also believe about the value GES brings to semiconductor, FPD and solar equipment manufacturers not only in Japan but worldwide, and look forward to supporting GES's business with our financial know-how and network."

"We are pleased to have DBJ participation and additional funding. The funding comes at the right time for GES, as we prepare to invest more in our customer service infrastructure, and execute on M&A plans to add critical new engineering and manufacturing services," said Don Tran - GES President/CEO.

The investment from DBJ is another vote of confidence in GES underlying business strategy and progress. Founded in 2006, GES has experienced rapid growth into several hi-tech markets due to its unique and innovative outsourcing service model. The company has successfully deployed engineering services into 11 international countries, providing its globally-based customers the highest quality service, while maintaining the lowest possible cost structure. Service offerings from GES cover numerous engineering tasks - from design, drafting and field-service, through turnkey engineering and manufacturing.

"GES's ability to raise new funds at a healthy valuation amidst this global financial crisis results from a track record of operational excellence, top-line and bottom-line growth, and expanding footprint. We continue to believe in the company's market potential, its value proposition to its customers, and its strong and proven management team to execute and win in the market," said IDGVV's Managing General Partner, Henry Nguyen.

About DBJ

In 1951 the Development Bank of Japan was established as a policy-based financial institution, and up through its privatization in October 2008 had a fundamental mission of contributing from a financial perspective to the development of the Japanese economy and society. Since privatizing, DBJ Inc. has been focusing on enhancing its investment and financing functions providing a wide range of services that contain facets of both. As its corporate philosophy makes clear, DBJ Inc. aims at "applying financial expertise to design the future." Using creative financing to address customer needs, we will work with customers to build their trust and help them achieve future prosperity.

SOURCE Global Equipment Services Inc.

Source: PR Newswire

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