SINGAPORE - Homegrown company Futuristic Store Fixtures has become the latest firm to receive an investment from Heliconia Capital Management, a private equity firm owned by Temasek Holdings.
Futuristic manufactures store fixtures, such as shelves and hanging bars, for international clients, many of which are mid-to-high-end global lingerie and apparel retailers, such as Victoria's Secret and Saks Fifth Avenue.
It is one of the largest store fixtures company in South-east Asia, and its niche is in building consistent customised store fixtures that are manufactured in large quantities and shipped for assembly in their clients' stores anywhere in the world.
Under the deal, Heliconia will take a substantial minority equity position in the company.
The investment proceeds from Heliconia will be used to expand and upgrade the company's manufacturing facilities in Selangor, Malaysia and in Kunshan, China.
Futuristic will also set aside a portion of the funds for strategic partnerships or acquisitions in the related space to expand its regional reach.
Futuristic chief executive David Low said: "Since we started in 2005, we have grown our revenue significantly and expect to continue to grow our business at a steady pace over the next few years.
"Presently more than 60 per cent of our revenue is from North America and we are growing across China and Asia. While we are focused on serving global fashion brands, we are also starting to work on opportunities to extend our services to other global retailers, such as those in the consumer electronics and food & beverage retail industries."
Heliconia CEO Derek Lau added: "We see Futuristic as a potential proxy to consumer retail rather than a traditional fixtures company. Over the years, under David's leadership, the company has achieved a good track record in delivering value and managed to gain the trust from its global customer base. This is not easy. We are very excited to work with David and his team to further enhance Futuristic's global footprint."