China Synergy Fund, co-managed by CICC Capital and TPG, and Trail Capital, a Paris-based private equity firm, have announced the acquisition of Electropoli, an industrial player engaged in the automotive and aerospace sectors.
The sale was made by investment firm Paris-based Impala that had pick up stake in Electropoli five years back.
Financial details of the transaction remain undisclosed.
Post acquisition, China Synergy Fund said it will actively help Electropoli expand into the Chinese market.
“China Synergy Fund is well-positioned to help transform small and mid-sized European companies into global champions with strong operational presence in China,” said Ding Wei, CEO of CICC Capital.
The acquisition was made about two months after the China Synergy platform was established. The platform seeks to focus on China in carrying out cross border investments on a global scale.
At that time, Wei had said that they were looking to contribute to China’s industrial transformation by bringing best practices to China. Meanwhile, CICC Capital also targets to actively assist in international companies expand into the Chinese market.
Headquartered in France, Electropoli targets the automotive industry as well as the aerospace and energy industries for surface finishing such as chemical and electrolytic coatings, industrial paining and hot dip galvanizing.
Established since 1954, the company currently operates across seven manufacturing sites in France, the Czech Republic and Poland and has a R&D center.