BankBoston Corp.'s private equity arm is taking a minority stake in a Thai manufacturing company.

BancBoston Capital will invest $7 million to acquire a 20% stake in Siam Pan Group.

Siam Pan is one of Thailand's leading manufacturers and distributors of lubricating oils, grease, and automotive batteries. BancBoston Capital, which has three private equity professionals operating from its Hong Kong headquarters, has had a direct investment operation in Asia since January 1996.

Siam Pan Group would represent BancBoston Capital's first direct equity investment in Thailand.

BancBoston Capital provides early-stage venture capital for emerging growth companies, equity sponsorship, co-investment, and mezzanine capital for buyouts, recapitalizations, and expansion of midsize companies.

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