Investment Summary

Navegar Exits Royale Cold Storage

On June 3, 2025, infrastructure investor I Squared Capital invested in real estate company Royale Cold Storage from Navegar

Investment Highlights
  • This is I Squared Capital’s 1st transaction in the Real Estate sector.
  • This is I Squared Capital’s 2nd transaction in Philippines.

Investment Summary

Date 2025-06-03
Target Royale Cold Storage
Sector Real Estate
Investor(s) I Squared Capital
Sellers(s) Navegar
Deal Type Secondary Buyout

Target

Royale Cold Storage

Rizal, Philippines
Royale Cold Storage holds a reputation as the largest and highest quality cold chain provider in the Philippines. The company offers clients state-of-the-art mega-facilities and cold storage, including warehouse management, blast freezing, and more. Royale Cold Storage is based in Rizal, Philippines.

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Investor(S) 1

DESCRIPTION

I Squared Capital is a global infrastructure investment manager focusing on energy, utilities, and transportation assets in North America, Europe, and select high growth economies. I Squared Capital was established in 2012 and is headquartered in New York City.


DEAL STATS #
Overall 51 of 53
Sector: Real Estate M&A 1 of 1
Type: Secondary Buyout M&A Deals 8 of 10
Country: Philippines M&A 2 of 2
Year: 2025 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-30 Priority Power

Arlington, Texas, United States

Priority Power is an independent energy management and consulting services firm to large commercial and industrial customers. PPM develops and implement strategies that mitigate risk and overcome сhallenges associated with managing energy data, supply, demand and delivery infrastructure. Priority Power was founded in 2001 and is based in Arlington, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-17 Entek

Lebanon, Oregon, United States

Entek produces battery separators for batteries to support electric, advanced start-stop, and standard vehicles, as well as trucks, emergency vehicles, emergency backup power, utility-scale energy storage, and industrial batteries. It is also a vertically integrated designer and manufacturer of extruders and material handling equipment for the production of battery separators and many other non-Entek applications. Entek was founded in 1984 and is based in Lebanon, Oregon.

Buy $800M

Seller(S) 1

SELLER

Navegar

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 300M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Navegar is a private equity firm focused on acquiring and investing in companies located in the Philippines. The Firm looks to commit up to $30 million per transaction and will consider businesses operating in the IT, financial services, education, food/beverage, healthcare, business services, leisure, manufacturing, e-commerce, and retail sectors. Navegar was formed in 2011 and is headquartered in Manila.


DEAL STATS #
Overall 3 of 3
Sector: Real Estate M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
Country: Philippines M&A 2 of 2
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-24 Dali Everyday Grocery

Zug, Switzerland

Dali Everyday Grocery is a Swiss international hard discount retail chain with a primary focus on Southeast Asia, particularly the Philippines. Dali Everyday Grocery is based in Zug, Switzerland.

Buy -