<article>Private equity firm <a href="https://www.dealstreetasia.com/?s=EQT%20Partners">EQT Partners</a> has acquired a 40 per cent stake in Shanghai Artwall Environmental Technology Co Ltd (<a href="https://www.dealstreetasia.com/?s=Artwall">Artwall</a>), a leading wallpaper designer, manufacturer, and retailer in China.</article>

Private equity firm <a href="https://www.dealstreetasia.com/?s=EQT%20Partners">EQT Partners</a> has acquired a 40 per cent stake in Shanghai Artwall Environmental Technology Co Ltd (<a href="https://www.dealstreetasia.com/?s=Artwall">Artwall</a>), a leading wallpaper designer, manufacturer, and retailer in China.
The stake was acquired by <a href="https://www.dealstreetasia.com/?s=EQT%20Mid Market Asia III">EQT Mid Market Asia III</a>, the PE firm&#8217;s $800-million Asia mid-market-focused fund, per an announcement. Financial details of the acquisition were not disclosed.
EQT invested in the company alongside Red Start Macalline, the largest national operator of home furnishing malls in China.
Founded in 2005, Shanghai-headquartered Artwall produces wallcovering products including wallpaper, mural, wall cloth, and curtains. It also owns the China business of international premium wallpaper brand Brewster.
“With support from the industrial network and access to EQT&#8217;s vast experience within the retail and consumer sector, Artwall is well-positioned to capture the growth opportunities in the under-penetrated wallpaper market in China and benefit from the increasing trend of more frequent home and house renovations,” EQT said in its statement.
Artwall&#8217;s management team, under founding CEO and chairman Ling Li, will continue to lead the company and drive the growth and development strategy, EQT added.
EQT Mid Market Asia III, which closed at $800 million in May, makes control or co-control investments in mid-market companies in Greater China and Southeast Asia. The fund had bagged commitments from pension funds, insurance companies, and funds-of-funds. It seeks to make investments in companies with an enterprise value between $30 million and $250 million in the mid-market space in the region.
EQT Partners opened its first office in Asia, in Hong Kong, over ten years ago, and has since then deployed more than $1.2 billion through investments in 18 companies in the region. In August, the fund acquired a 40 per cent stake in <a href="https://www.dealstreetasia.com/?s=China%20Shine">China Shine</a>, a China-focused facility management service provider.
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The stake was acquired by EQT Mid Market Asia III, the PE firm's $800-million Asia mid-market-focused fund.

EQT Partners acquires 40% stake in Chinese wallpaper firm Artwall

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EQT Partners acquires 40% stake in Chinese wallpaper firm Artwall

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