Industry Fund, Partners Buy German Hydraulic Machine Makers
Tang Shihua
DATE:  Dec 15 2017
/ SOURCE:  Yicai
Industry Fund, Partners Buy German Hydraulic Machine Makers Industry Fund, Partners Buy German Hydraulic Machine Makers

(Yicai Global) Dec. 15 -- An industry fund in which Hefei Metalforming Intelligent Manufacturing Co. [SHA:603011] has a 30 percent stake and two other companies will pay EUR24 million (USD28.3 million) to acquire three German hydraulic machine manufacturers.

Lauffer Holding GmbH & Co. KG, Lauffer Immo GmbH & Co. KG and Lauffer-Verwaltungsgesellschaft mit beschrankter Haftung are leaders in their field, Hefei-based HMIM said today. Each has operated out of Horb, Germany for more than 140 years. HMIM did not give details of plans after the acquisition. 

The HMIM-backed Hefei Shuimu Xinbao Intelligent Manufacturing Industry Fund LP holds a 51-percent stake in a joint venture the buyers formed to take over the target companies. A firm owned by Yan Jianwen, HMIM's controlling shareholder, owns 16 percent and Waterwood Growth Technology Fund LP owns 33 percent.

HMIM said the deal is standard investment for the CNY1 billion fund, set up last year, and will not affect its financial conditions or operating performance this year. HMIM contributed CNY300 million to the fund.

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Keywords:   Investment Fund,Leveraged Buyout,German,Hydraulic Machinery