China Synergy Fund signs first buyout deal in France
China Synergy Fund, co-managed by CICC Capital and TPG, has entered into an exclusivity agreement with Impala to acquire Electropoli, a leading provider of surface treatment services in Europe, notably for the automotive industry.
Former French Prime Minister Jean-Pierre Raffarin, President of Silk Road Fund Wang Yanzhi, and CICC UK CEO Xia Xinhan attended the signing ceremony and gave speeches.
China Synergy Fund has co-led this investment with Trail Capital, a Paris-based European private equity firm.
Headquartered in France, Electropoli has successfully developed into a pan-European company, benefitting from a strong technology and industrial process know-how. The company operates seven manufacturing sites in France, the Czech Republic and Poland and one R&D centre based in France. Electropoli serves the premium segment of the automotive industry as well as the aerospace and energy industries with a comprehensive range of metal treatment products and services.
Post acquisition, China Synergy Fund will actively help Electropoli expand into the Chinese market, bringing better products and services to Chinese clients and higher environmental protection standards to the service treatment industry in China.
Ding Wei, CEO of CICC Capital, says: "As a partner of Trail, we will allow successful European companies to grow into China with the benefit of CICC's vast investment banking resources and strong experience as a leading private equity manager. China Synergy Fund is well-positioned to help transform small and mid-size European companies into global champions with strong operational presence in China."
Xavier Marin, Managing Partner of Trail, says: "Together with our strategic partner of CICC, we form a powerful investment global platform with strong local footprints and experience in Europe and China."