Funds that are managed by JD Capital have completed the acquisition of a controlling interest in Modern Metal Precision Die Casting (Modern Metal) from the Fung family and EQT Greater China II. The terms of the transaction have not been disclosed.
Modern Metal is the market leader in high-pressure aluminium die-casting serving the global automotive, climate control, industrial automation and telecommunication industries. The Company offers comprehensive die-casting solutions including product and tool design, tooling fabrication, die-casting, precision CNC machining, surface finishing, and sub-assembly. The Company has long-term relationships with over 100 global customers spanning across the US, Europe and Asia. The Company is headquartered in Hong Kong with manufacturing facilities in Dongguan and Wuzhou, China.
JD Capital is one of the largest private equity firms in China with over 240 investments in a number of industries including advanced industrial manufacturing, consumer products and services, pharmaceutical and healthcare, agriculture, natural resources and mining, and clean tech. JD Capital is headquartered in Beijing, China.
EQT is a leading global private equity group in Europe with approximately EUR30 billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
This acquisition is an important step for JD Capital’s global strategy to consolidate the automotive lightweight parts industry. JD Capital plans to further acquire leading automotive lightweight parts companies worldwide and to consolidate the industry, with the aim of generating synergy effect, expanding global footprint, and building Dongguan Modern Metal as a first-class global supplier of automotive lightweight parts.
Baird served as financial advisor to Modern Metal on this transaction.