China: JD Capital buys Modern Metal, EQT Partners exits

Beijing-based private equity firm JD Capital has acquired 79 per cent stake in Modern Metal & Precision Holdings Ltd, a leading aluminum die casting manufacturer in China.

The PE firm acquired 30 per cent stake held by EQT Greater China II – paving a way for its exit – and the remaining (49%) from the founders of the company, a statement said.

EQT Greater China II invested in Modern Metal in December 2010 for an undisclosed amount. The fund, launched in 2006 by EQT, one of the global leading private equity firms, raised about $535 million, which has been fully invested.

Following EQT Greater China’s investment, Modern Metal built a new plant in Wuzhou, China, gained higher share of sales from key automobile customers and formulated sharper go-to market strategy to capture the trend of increasing sourcing of aluminum die castings and auto parts from China.

Modern Metal, based in Hong Kong with manufacturing facilities in Dongguan and Wuzhou, leads in high-pressure aluminum die-casting serving global automotive, climate control, industrial automation and telecommunication industries.

Modern Metal has shown the top line growth of 15 per cent per annum from 2010 to last year.

The transaction was closed on June 6, 2016. The terms of the transaction were not disclosed.

Also read:

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EQT looks to exit Singapore’s CFF for $300m

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.