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The Jordan Company completes sale of International Mining Machinery to Joy Global

The Jordan Company, a leading middle-market private equity firm, has completed the sale of International Mining Machinery Ltd to Joy Global Inc, a high productivity mining solutions provider. In July 2011, the Jordan Company announced that it had entered into an Share Purchase Agreement to sell 534.8 million shares of IMM, representing approximately 41% of the company’s issued share capital, to Joy Global Inc.
 

An affiliate of The Jordan Company, LP initially invested in IMM in 2006, and on February 10, 2010, IMM priced a 520 million share public stock offering at HKD4.88 per share.
 
Headquartered in Hong Kong with offices in Beijing and several other mainland China cities, IMM is a former state-owned enterprise that is a leader in the design and manufacture of underground long wall coal mining equipment in China.
 
“Since our IMM acquisition, we’ve completed seven add-on acquisitions and joint ventures that have expanded the company’s product and service offerings and have seen IMM emerge as a comprehensive market leader in China,” says Thomas H Quinn, Managing Principal of The Jordan Company.

 

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