McDonald’s Corporation (NYSE: MCD) and global investment firm Carlyle (NASDAQ: CG) announced on 20 November, 2023 that McDonald’s has agreed to acquire Carlyle’s minority ownership stake in the strategic partnership that operates and manages McDonald’s business in mainland China, Hong Kong and Macau.
The CITIC Consortium, mainly through its equity affiliate CITIC Capital, will maintain its controlling ownership stake. Upon completion of the transaction, the CITIC Consortium will continue to own 52%, and McDonald’s will remain a minority partner while increasing its stake from 20% to 48% ownership.
“Our strategic partnership with CITIC and Carlyle has been extremely successful in growing McDonald’s presence in the region since it began. China is now our second largest market; we’ve doubled our restaurants to more than 5,500 since 2017,” said Chris Kempczinski, McDonald’s President and Chief Executive Officer. “We believe there is no better time to simplify our structure, given the tremendous opportunity to capture increased demand and further benefit from our fastest growing market’s long-term potential.”
The business has generated Systemwide sales growth of more than 30% in the market year-to-date since September 2019. Going forward, the partners will continue working together as the brand executes on its Accelerating the Arches growth strategy in the market, working to deliver on a commitment to develop and open new restaurants and foster deeper engagement with customers.
“We very much appreciate the strong partnership we have had with CITIC Capital and McDonald’s Corporation. Together, we transformed the business, accelerating its growth profile and revolutionizing its digital marketing and operational capabilities,” said X.D. Yang, Chairman of Carlyle Asia. “The business has always delivered outstanding results and we wish them every success on their next phase of growth.”
“As McDonald’s China’s controlling shareholder, we are thrilled by McDonald’s Corporation’s continued commitment to our long-term partnership and the China market,” said Yichen Zhang, Chairman and CEO of CITIC Capital and Chairman of McDonald’s China.” As we reach towards our goal of 10,000+ restaurants by 2028, we are more confident than ever in our ability to serve the Chinese consumer with McDonald’s iconic taste.”
The deal is contingent upon customary regulatory approvals and is expected to close in the first quarter of 2024.
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(Tokyo, 19 October 2023) Trustar Capital (formerly known as CITIC Capital Partners), a private equity affiliate of CITIC Capital Holdings Limited, announced today that it has completed the sale of 100% of the shares of Moritex Corporation (“Moritex” or the “Company”) held by its second Japan buyout fund (“Trustar Capital Japan fund”) to Cognex Corporation (NASDAQ: CGNX) (“Cognex”). Trustar Capital has previously announced the agreement with Cognex regarding the transaction on 30 August. Moritex marked the tenth exit for Trustar Capital Japan Partners, which was founded in 2004.
Established in 1973, Moritex is engaged in the development, manufacture and sales of machine vision systems such as high-spec lens and lighting for industrial use, and medical and cosmetic equipment. With its technological advantage of combining lens and light design, Moritex has established a strong customer base in each of its business segments. One of its core business segments, Machine Vision, has built a solid customer base including blue-chip international companies.
Masahiro ITO, Senior Managing Director of CITIC Capital Holdings and Head of Japan Private Equity of Trustar Capital, said: “We are pleased with the sale of Moritex and the work we have built together. Moritex was already a leader in high-end Machine vision lens and lighting solution when we acquired them, but mainly focused on domestic Japanese semiconductor clients. We saw huge potential of them to expand overseas and hence we also acquired their overseas bases which enhanced smoother work with its Japan headquarters, and enlarged their overseas business. We also saw the opportunity to cultivate other applications in the electronics and automotive industries, which had increasing demand for higher precision components and associated automatic inspection.”
“A big part of our early effort was to help them reorganize the multiple companies that were under a Japan-based parent but remained standalone corporate entities for each overseas market. We created a single consolidated entity and simplified its management system, introduced suitable incentive plan, controlled the pricing, and shifted their production base, which greatly improved their cross-border collaboration and profitability.”
“We are proud of the work we have done for our investors and the partnership with Moritex. Bringing in Cognex will definitely create tremendous synergies and enhanced value with their unique brands, technologies, customer base and sales network, material procurement capabilities and other managerial resources, and position them for long-term success.”
Since the investment in January 2015, Trustar Capital led Moritex’s growth by strengthening its business foundation and capturing further growth potential, through setting new business strategy, developing global platform and customer base, and implementing a series of operational improvements. Moritex had achieved transformation focusing on the high value-added products leveraging its distinguished technologies and experiences in machine vision system, and Trustar Capital Group’s global network and resources. Under Trustar Capital’s ownership, Moritex has reinforced its presence in machine vision system market establishing solid positioning in diverse customer base, accelerating expansion to overseas, and achieved strong growth globally as well as significant profitability enhancement through various initiatives.
Cognex is a world leader in the machine vision industry, having shipped more than 4 million image-based products, representing over $10 billion in cumulative revenue, since the company’s founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has offices and distributors located throughout the Americas, Europe, and Asia. For more information, please visit https://www.cognex.com/
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About Moritex Corporation
Established: 1973
Representative: Takao SATO, President and CEO
Headquarters: Kanagawa, Japan
Website: https://moritex.com/index.html
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed around 100 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD8.6 billion of committed capital. For more information, please visit www.citiccapital.com.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited, founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD17.6 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 290 portfolio companies that span 11 sectors and employ over 600,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
Citic Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
Masahiro ITO
Senior Managing Director of CITIC Capital Holdings and Head of Japan Private Equity of Trustar Capital
Tel: +81 3 5211-3830
(Tokyo, 30 August 2023) Trustar Capital (formerly known as CITIC Capital Partners), a private equity affiliate of CITIC Capital Holdings Limited, announced that it has agreed to sell Moritex Corporation (“Moritex” or the “Company”) to Cognex Corporation (NASDAQ: CGNX) (“Cognex”). Expected closing of the transaction is in the next few months.
Established in 1973, Moritex is engaged in the development, manufacture and sales of machine vision systems such as high-spec lens and lighting for industrial use, and medical and cosmetic equipment. With its technological advantage of combining lens and light design, Moritex has established a strong customer base in each of its business segments. One of its core business segments, Machine Vision, has built a solid customer base including blue-chip international companies.
Since the investment in January 2015, Trustar Capital led Moritex’s growth by strengthening its business foundation and capturing further growth potential, through setting new business strategy, developing global platform and customer base, and implementing a series of operational improvements. Moritex had achieved transformation focusing on the high valueadded products leveraging its distinguished technologies and experiences in machine vision system, and Trustar Capital Group’s global network and resources. Under Trustar Capital’s ownership, Moritex has reinforced its presence in machine vision system market establishing solid positioning in diverse customer base, accelerating expansion to overseas, and achieved strong growth globally as well as significant profitability enhancement through various initiatives.
Cognex is a world leader in the machine vision industry, having shipped more than 4 million image-based products, representing over USD10 billion in cumulative revenue, since the company’s founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has offices and distributors located throughout the Americas, Europe, and Asia.
Under the new ownership structure, we are confident that the two companies will definitely benefit from tremendous synergies and enhanced value when putting together their unique brands, technologies, customer bases and sales networks, material procurement capabilities and other managerial resources.
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Notes: Mitsubishi UFJ Morgan Stanley served as a financial advisor, Anderson Mori & Tomotsune served as a legal advisor, Deloitte Tohmatsu served as an accounting/tax advisor, and Arthur D. Little served as a business advisor for the transaction.
About Moritex Corporation
Established: 1973
Representative: Takao Sato, President and CEO
Headquarters: Kanagawa, Japan
Website: https://moritex.com/index.html
About Cognex Corporation
Established: 1981
Representative: Robert Willett, President and CEO
Headquarters: Natick MA, United States
Website: https://www.cognex.com/
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed around 100 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD8.6 billion of committed capital. For more information, please visit www.trustarcapital.com.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited. Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD18.3 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 290 portfolio companies that span 11 sectors and employ over 600,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
Masahiro ITO
Senior Managing Director, Head of Japan Private Equity
Trustar Capital Partners Japan Limited
Tel: +81 3 5211-3830
(Hong Kong, May 11 2022) CITIC Capital Holdings Limited (“CITIC Capital”)’s Real Estate Group announced that it has entered into an agreement with SCPG, a leading commercial real estate investment and asset management operator in China. Under the agreement, SCPG will acquire a 50% interest in the equity tranche of the CITIC JIC – Changsha ID Mall Asset-Backed Securities Scheme and provide operation and management services for the project and to enhance the overall operating capability of the target assets.
On the morning of May 11, CITIC Capital and SCPG signed the agreement. Stanley CHING, Managing Partner and Co-Head of Real Estate Group, Roger ZHU, Managing Partner and Co-Head of Real Estate Group, Lisa WANG, Managing Director of Real Estate Group and Samuel Lu, Managing Director of Real Estate Group, SCPG’s Chairman DING Liye, SCPG’s president WANG Haiwu and other executives attended the signing ceremony together. Witnessed by guests from Hong Kong, Shanghai, Changsha and Wuhan, representatives of the two sides signed a contract online to demonstrate the confidence of CITIC Capital and SCPG in the future development of the ID Mall project and China’s real economy in the context of the epidemic.
Changsha ID Mall is the city’s first large-scale integrated shopping mall with a gross floor area of approximately 120,000 square meters. Since acquiring the mall in 2010, CITIC Capital has been constantly upgrading it and improving its operational efficiency, making Changsha ID Mall a core and iconic commercial project in Changsha’s Wuyi business district, backed by value creation and solid consumer base. In 2017, CITIC Capital issued the first Quasi-REITs converted from USD fund structure in China based on the sound operation and brand franchise of Changsha ID Mall. The REITs was well received by investors, demonstrating strong market recognition of CITIC Capital’s commercial real estate investment and management capabilities. Through this acquisition, SCPG will further establish its foothold in the Changsha market and promote the renewal and upgrade of Changsha ID Mall via its rich experience in operating shopping malls.
Stanley CHING, Managing Partner and Co-Head of Real Estate Group of CITIC Capital said: “CITIC Capital has built a strong partnership with SCPG Group for years, and we have always been exploring ways to collaborate further. We are honored to join hands with SCPG again to continue to enhance the asset quality, operations and consumer experience, and unleash further value and growth momentum for the Changsha ID Mall asset-backed securities scheme, especially in the current epidemic environment.”
Roger ZHU, Managing Partner and Co-Head of Real Estate Group of CITIC Capital said: “CITIC Capital has always been committed to discovering the best assets, and providing diversified and innovative financial services for the best enterprises in China, while attaching equal importance to asset management and capital management. We are confident that SCPG will inject new growth momentum into Changsha ID Mall with its rich experience in operating commercial real estate projects.”
SCPG’s Chairman DING Liye said: “The foundation of domestic real economy is solid and we are optimistic about the potential of commercial real estate industry. The investment in mature asset projects will help to improve the breadth and depth of our commercial network and help us to explore the core regional market. We are confident to provide richer and high-quality service experience for local customers. In the future, Changsha ID Mall will become the first InCity（印象城） in Changsha with stronger integration and connection with Changsha Inreach（长沙印象汇） will be expected to build a new trendy landmark for the young clientele.”
CITIC Capital has a strong conviction in commercial real estate and has established unparalleled resources and a seasoned team. Over the years, the team has built up a wealth of experience in real estate investment management; especially in the field of commercial real estate management and urban renewal, it has formed a mature management model of “investment-asset management-capital market”, realizing a virtuous cycle of financial capital and real estate projects. In the future, the company will continue to actively explore commercial real estate opportunities, drive upgrades and strategic innovation, and create values for investors.
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About CITIC Capital
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD17 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 230 portfolio companies that span 11 sectors and employ over 500,000 people around the world.
About SCPG
SCPG, founded in 2003, has been engaged in investment, development, operation and management of shopping centers with an international vision, and its business spans the whole value chain of commercial real estate. In 2016, SCPG became a member company of Vanke Group, which further boosted its commercial resources, business platforms, and development and management capabilities. As of now, SCPG manages more than 100 projects in more than 50 cities across the country with assets of nearly RMB 50 billion and an area of nearly 10 million square meters in total.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
affiliate of CITIC Capital Holdings Limited, is pleased to announce that it has completed the strategic acquisition of Beijing Salion Foods Co., Ltd (“Salion”, or the “Company”) via its fourth China buyout fund. This acquisition marks the eleventh transaction Trustar has completed in the food & beverage industry, a long-term investment focus of Trustar.
Founded in 2000 and headquartered in Beijing, Salion specializes in the R&D, manufacturing and distribution of compound condiment and basic food ingredients. With over 20 years of track record and strong technical know-how, Salion has developed unique capabilities of product customization and flexible production to cater for the varying needs of its customers with distinctive cuisine solutions. The Company offers nearly a thousand SKUs covering hundreds of basic food ingredients, Chinese and western flavor sauce, hotpot soup base, hotpot dipping sauce, powder seasonings and etc. Salion’s products are endorsed not only by leading domestic foodservice operators and top food brands, but customers in over 30 countries around the world.
Compound condiment market in China reached RMB150 billion in 2020 according to research by Deloitte. The category is expected to grow at a CAGR of 10-15% in the future driven by the industrialization of Chinese food industry, development of franchised restaurant chains and the emerging demand for Ready-To-Cook/Ready-To-Eat food products by consumers.
Michael JIANG, Operating Partner of Trustar and Chairman of Salion said: “In the past 20 years, Salion has witnessed and participated in the industrialization of Chinese food industry and established a unique business model based on strong R&D and flexible manufacturing with high technological barriers. Trustar’s strategic investment today marks an important milestone for Salion. With the support of Trustar Capital’s resources in the food and beverage industry, management team are confident and committed to strengthening our product innovation, enhancing production efficiency and providing better customer services. We aim to develop Salion into a leading cuisine solution provider in China.”
Derek WANG, Senior Managing Director of Trustar Capital, said: “Investment in Salion continues to demonstrate our commitment in the stable and growing Chinese food and beverage industry. With the strong industry trend of standardization and industrialization, we see systematic opportunities to find and build great platforms in the next several years. We will leverage our experience and drive Salion’s strategy to focusing on technology and innovation, improving food safety, enhancing operation and working seamlessly with our customers to deliver top quality products.”
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About Salion Foods
Founded in 2000 and headquartered in Beijing, Salion specializes in the R&D, manufacturing and distribution of compound condiment and basic food ingredients. With over 20 years of track record and strong technical know-how, Salion has developed unique capabilities of product customization and flexible production to cater for the varying needs of its customers with distinctive cuisine solutions. The Company offers nearly a thousand SKUs covering hundreds of basic food ingredients, Chinese and western flavor sauce, hotpot soup base, hotpot dipping sauce, powder seasonings and etc. Salion’s products are endorsed not only by leading domestic foodservice operators and top food brands, but customers in over 30 countries around the world. For more information, please visit www.salionfood.com.
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed over 97 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD7.8 billion of committed capital. For more information, please visit www.trustarcapital.com.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited. Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD17 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 230 portfolio companies that span 11 sectors and employ over 500,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
(24 January 2022) Trustar Capital (formerly known as CITIC Capital Partners, a private equity affiliate of CITIC Capital Holdings Limited) is pleased to announce that it has obtained the “Certificate of Redemption of Carbon Emissions Reduction” and “Carbon Neutral Certificate” issued by the China Emissions Center in Guangzhou, becoming the first private equity firm in China to achieve annual carbon neutrality. Trustar Capital reached this milestone through the purchase and voluntary redemption of carbon offsets, including Guangdong PHCER (Pu Hui Certified Emission Reduction) and CER (Certified Emission Reduction).
In addition to day-to-day energy conservation and carbon reduction efforts, on this carbon neutral initiative Trustar Capital worked with the Governance Solutions Group, an independent third-party sustainability advisor, to measure the firm’s carbon emissions footprint in the 12 months between November 2020 and October 2021. The analysis included emissions from electricity, self-owned vehicles, waste disposal, as well as business travel.
For emissions mitigation, Trustar Capital purchased carbon offsets from the China Emissions Exchange in
Guangzhou, including PHCER offsets generated by a forestation project in Yingde, Guangdong. Located in a low-income village surrounded by hills, the project not only reduces carbon from the atmosphere, but also increases the income of local farmers and promotes the sustainable development and common prosperity of the local society. Trustar offset its remaining carbon emissions through redemption of CER generated by a wind power plant in Taishan, Guangdong.
“Advancing ESG and sustainable development has been a key focus of Trustar Capital in recent years.
Following the announcement of China’s pledge to reach peak carbon by 2030 and carbon neutrality by 2060, we redoubled our efforts in exploring how investment management firms could contribute towards low-carbon transformation. Our announcement today demonstrates our commitment to achieving carbon neutrality in our operational activities. Going forward, we hope to work with our portfolio companies and fellow investment management firms to contribute to the green transition together.” Said Eric Xin, Senior Managing Director and Managing Partner of Trustar Capital.
Going forward, Trustar Capital will continue to measure its carbon footprint and, on top of annually offsetting through outside credit purchases, will make every effort to reduce its carbon emissions intensity. In addition, Trustar Capital will actively implement ESG in its investment philosophy and process, actively invest in carbon neutral-related industries, and advocate for ESG and low-carbon efforts among its portfolio companies.
Last October, Trustar Capital completed a strategic investment in Intramco Europe B.V., a pioneer in the
electric vehicle charging component market, with the goal of helping advance the growth of the new energy industry. Trustlink Group, another Trustar portfolio company, is a leading integrated facility management (IFM) company in China. Under the national carbon neutral strategy, Trustlink will begin providing comprehensive energy and emissions reduction solutions to customers, make every effort to build China’s leading zero-carbon IFM service provider. Trustar portfolio McDonald’s China has opened over 1,200 LEED-certified green restaurants. It will continue its emissions-reduction efforts together with its suppliers and partners, while also spreading the go-green message to its customers.
In 2022, Trustar Capital will continue to integrate ESG into every aspect of its operations and contribute to the sustainable development of society.
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About PHCER and CER
PHCER (Pu Hui Certified Emission Reduction, or “PHCER”), is the certified voluntary emission reduction
amount generated by the actions of enterprises or individuals in specific pilot areas in Guangdong Province that result in the reduction of greenhouse gas emissions. The Guangdong Provincial Department of Ecology and Environment is in charge of PHCER, including creating its methodology and filing and issuing PHCER. As a supplement to the existing ecological compensation mechanism, the forestry carbon sink Carbon Pu Hui projects can bring short-term stable income to project applicants. The implementation of these projects help solve the problems of long forestry production cycle and slow earnings generation. It could also help alleviate poverty in mountainous areas and implement targeted poverty alleviation in rural areas, thus increasing social welfare. (source: Guangdong Forestry Carbon Sink Carbon Pu Hui Methodology)
CER (Certified Emission Reduction) is the certified emission reduction in the Clean Development Mechanism (“CDM”). The certified emission reduction refers to one unit of emission reduction which complies with the principles and requirements of the Clean Development Mechanism, and has been approved by the United Nations Executive Board. CER includes the development, validation, registration, monitoring, verification, and certification of emission reduction projects. One unit of CER is equivalent to one metric ton of CO2-equivalent reduction. Organizations could voluntarily redeem and neutralize greenhouse gas emissions with CER. (source: Summary of Clean Development Mechanism (“CDM”) and Project Implementation)
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed over 80 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD7.8 billion of committed capital. For more information, please visit
www.trustarcapital.com.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited. Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD16 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 150 portfolio companies that span 11 sectors and employ over 800,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
(18 October, Shanghai) Trustar Capital (formerly known as CITIC Capital Partners, a private equity affiliate of CITIC Capital Holdings Limited) is pleased to announce that it has completed the strategic investment via its fourth China buyout fund in Intramco Europe B.V. (“The Company” or “Intramco”), a pioneer in the Electric Vehicles (EV) charging component market.
Headquartered in Almere, Netherlands, Intramco was founded in 1994 with key products covering a full range of EV charging cables, plugs and charging station components. Its customized and high-quality products have obtained certifications in many markets. Intramco serves well-known OEM and charging station customers with its established sales network in Europe. Backed by strong R&D and production capabilities, its pandemic-resilient business has been able to grow significantly through COVID-19. In 2009 Intramco set up its China production facility, Consolida Shanghai Auto Technology in Shanghai (“Consolida”), to fully leverage its China’s manufacturing and R&D capabilities.
The Global EV industry is developing rapidly thanks to favorable policies and strong sustainability ambitions from global leading auto OEMs. The European Union for instance has proposed a 55% cut in CO2 emissions from automobiles by 2030. Major auto OEMs have set up goals to transform to EVs, and has been bringing great development opportunities to upstream enterprises. According to data by IHS, new electric car registrations has more than doubled in 2020, reaching 1.4 million.
Wim RIJNHOLT, Founder & Managing Director of Intramco & Consolida, said: “OEM businesses are built on trust and quality assurance and we are proud that our customized, high-quality products have won customers’ loyalty and trust throughout the years and enhanced our core competitiveness. We will continue to enrich our product line and improve our R&D capabilities, grow our sales force and expand customers in different regions. Trustar Capital with its global experience and resources is an ideal partner for Intramco in our next phase of growth as we have a shared vision and strategy. We look forward to driving Intramco’s value creation initiatives over the next few years with them.”
Derek WANG, Senior Managing Director of Trustar Capital, commented: “We are excited for our strategic partnership with Intramco. We are optimistic about the prospects of global EV sector and believe in the company’s superior capabilities in the EV supply chain. Chinese economy has proven to be resilient with solid growth and its manufacturing and supply chain capabilities have gone through rigorous tests of COVID-19. We believe that the further development of Consolida will help build a solid foundation for Intramco’s future. We will work closely with the founders of Intramco to drive the company to become a leading global EV value chain supplier by enhancing their R&D capabilities, accelerating their growth in the global markets, and seeking additional M&As to enhance the company’s scale.”
In recent years, China has actively introduced policies to support the development of the new energy automobile industry. Data show that China’s new energy vehicle production and sales have consistently ranked first in the world for six consecutive years, and market penetration rate reaching 11.6% in average from January to September this year. ” Technology Roadmap for Energy-saving and New Energy Vehicle 2.0″ sets out the goal for 2035 to keep carbon emissions level of the automotive industry 20% below the peak, and that new energy vehicles to account for 50% of the total sales of new vehicles. As China is moving towards its “dual carbon” strategic goal, new energy vehicles will unleash more energy and make bigger influence.
The rich resources of Trustar Capital in China will help Intramco in expanding the domestic market in the future. This investment is another important contribution of Trustar Capital in the ESG (Social, Environmental and Governance) field. By helping the high-quality development of the new energy industry, we will continue to work with our portfolio companies to effectively respond to the call on carbon strategy and actively create positive social impact.
Latham & Watkins, Han Kun and NautaDutilh are legal advisors of the deal, while KPMG acts as financial advisor.
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About Intramco
Headquartered in Almere, Netherlands, Intramco was founded in 1994. In 2009 Intramco set up its China production facility, Consolida Shanghai Auto Technology in Shanghai (“Consolida”) with strong R&D and production capabilities. Intramco has developed key products including a full range of EV charging cables, plugs and charging station components. Its customized and high-quality products have obtained certificates in many markets. Intramco serves well-known OEM and charging station customers with established sales network in Europe. For more information, please visit https://intramco.com/ and https://consolida.com.cn/.
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed over 80 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD7.7 billion of committed capital. For more information, please visit www.trustarcapital.com.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited. Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD16 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 150 portfolio companies that span 11 sectors and employ over 800,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
(Hong Kong, 17 June 2021) Trustar Capital (formerly known as CITIC Capital Partners, a private equity affiliate of CITIC Capital Holdings Limited) is pleased to announce that it has completed its investment in Beijing Rootnet Technology Co. Ltd. (“The Company” or “Rootnet”).
Founded in 2000, Rootnet is one of the leading IT system providers in the financial industry with the most comprehensive product offerings and the strongest innovative capabilities in China. The company provides core trading systems and solutions designed for financial institutions such as securities firms, mutual funds and private funds, and has consistently ranked among the top players in multiple product areas. The company has successfully built an exceptional R&D team, and sophisticated products that have been widely used by leading foreign financial institutions in China. It has been rated “China’s Top 100 Most Competitive FinTech Companies” and “Zhongguancun FinTech Companies Top 30” , among other technological awards for many consecutive years.
Rootnet’s Co-founder and CEO Wanzhen YU, said: “China’s securities industry used the last 30 years to complete the learning cycle and understand the market, for which the same has taken our foreign peers 100 years. It is our privilege to participate in this development process and invaluable for us to master deep market knowledge. The development of China’s securities industry is still at its nascent stage, and we see huge room and upsides for development in the future. Trustar Capital is renowned for its forward-looking strategies and has led many landmark investments, especially in the financial sector. I truly believe that Trustar Capital’s strong backing is pivotal in driving Rootnet to further capture China’s securities industry tailwinds, and to build a brighter future for the company.”
Yichen ZHANG, Chairman and CEO of CITIC Capital Holdings Limited, said: “As the trading products of China’s capital market become increasingly diverse with rigorous standards and complex trading requirements and regulations, securities firms that are expanding to meet the robust growth of the market will need trusted and innovative partners like Rootnet. Over the years, Rootnet has built high-quality and cutting-edge solutions that help financial institutions cover every need in the entire business process. It has established high industry barriers, an excellent reputation and highly loyal customers. We are pleased to form an in-depth partnership with the company, and to fully support Rootnet in growing their business with our rich sector resources.”
In recent years, China’s fintech industry has undergone great changes, and the COVID-19 pandemic has accelerated the digital transformation of financial institutions. It is imperative to rely on fintech for all-round innovation and empowerment among financial institutions including securities firms, asset management firms, and financial holding companies. Compared with international financial markets, China’s financial industry’s IT investment is still relatively low, leaving huge space for growth.
Financial regulators have been looking for top-notch scientific and technological innovation to effectively manage systemic risks facing the industry. Looking into the future, technology will continue to have significant impact on different aspects for the financial industry, and will become new force to drive the transformation of the industry, and prevent financial risks.
Trustar Capital believes strongly in the prospects of the financial services and technological innovation. Prior to Rootnet, Trustar Capital’s investments in the related field include: AsiaInfo, Linklogis, JD Technology, Megvii Technology, Anlogic, Anker Innovation, Centec Networks, XtalPi. In the future, Trustar Capital will continue to focus on investment in technology sector, and plays its role in empowering the technological and innovative capabilities of the capital market and its contribution to the economy.
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Note: PricewaterhouseCoopers and Haiwen & Partners provide financial and legal advisory services to Trustar Capital respectively.
About Rootnet
Founded in 2000, Rootnet is one of the leading IT system providers in the financial industry with the most comprehensive product offerings and the strongest innovative capabilities in China. The company provides core trading systems and solutions designed for financial institutions such as securities firms, mutual funds and private funds, and has consistently ranked among the top players in multiple product areas. The company has successfully built an exceptional R&D team, and sophisticated products that have been widely used by leading foreign financial institutions in China. It has been rated “China’s Top 100 Most Competitive FinTech Companies” and “Zhongguancun FinTech Companies Top 30” , among other technological awards for many consecutive years.
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed over 80 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD7.7 billion of committed capital. For more information, please visit www.trustarcapital.com.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited. Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD36 billion of capital across 90 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 150 portfolio companies that span 11 sectors and employ over 800,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
(Hong Kong, 27 April 2021) Trustar Capital (formerly known as CITIC Capital Partners, a private equity affiliate of CITIC Capital Holdings Limited) is pleased to announce that it has completed its investment in Yifei Group via its third RMB-denominated China fund. This is the ninth investment of Trustar Capital into the beauty and personal care, lifestyle sector, which will continue to be a key investment theme it will eye on.
Founded in 2010, Yifei Group (or “the Company”) is a leading online business service provider in the beauty and personal care sector. The Company plays a vital role in the ecosystem, provides complete solutions to beauty and personal care brands, as well as small and medium business owners. The Company’s service includes brand incubation, marketing & promotion, online shop operation and channel and fulfillment management, and covers all the major ecommerce and social media platforms. It also provides education and one-stop-shop service for hundreds of thousands of sellers, enabling them to start business and serve their respective consumers in the space. In addition, the Company operates Taomeizhuang (or TMZ) Association, which is one of the most influential operating platforms in the market.
Weiqing JIAN, founder and CEO of Yifei Group said: “Since founding, we have been providing innovative, top-notch services to brands and small business owners, becoming an indispensable business partner to them. With the strong support from Trustar Capital, we have full confidence in strengthening our leading role in the sector, making it easy for brands and sellers to do business in the beauty space.”
Hanxi ZHAO, Senior Managing Director and Managing Partner of Trustar Capital, said: “The vigorous growth and complexity of the online beauty space in China makes it critical for brands to find trustworthy and capable channel partner. Yifei has established itself as a preferred partner that connects the brands and the seller network, and eventually consumers. The service it provides is an integral part of the ecosystem. We are delighted to be working with the young and passionate entrepreneurial team from Yifei, and are excited to support them to continue to grow with the overall beauty and personal care market.”
Trustar Capital believes in the long-term growth prospects of the beauty, personal care and lifestyle sector, and will continue to look for attractive investment opportunities in the sector. In addition to Yifei, Trustar Capital’s investments in the related sector include: Erno Laszlo, a leading American premium skin care brand; Trilogy, a clean beauty brand from New Zealand; Axilone, a world-class cosmetics packaging provider; UCO, an e-commerce service provider serving premium beauty brands; ScentAir, a scent marketing solutions provider; RECLASSIFIED, a leading Chinese prestige perfume and home fragrance brand; Lifestyles/Jissbon and LELO, leading global brands in the intimate wellness sector.
-Ends-
Note: PricewaterhouseCoopers and Haiwen & Partners provide financial and legal advisory services to Trustar Capital respectively.
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed over 80 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD7.7 billion of committed capital. For more information, please visit www.trustarcapital.com.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited. Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD36 billion of capital across 90 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 150 portfolio companies that span 11 sectors and employ over 800,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com
(Hong Kong, 25 March 2021) Trustar Capital (formerly known as CITIC Capital Partners, a private equity
affiliate of CITIC Capital Holdings Limited) is pleased to announce that it has completed the subscription
of the convertible bonds issued by Genertec Universal Medical Group Company Limited (HKEX: 2666,
‘Genertec Universal Medical’ or ‘The Company’). The convertible bonds are issued in an aggregate
principal amount of USD150 million, with a 2% coupon and 5-year maturity.
The purposes of the net proceeds, which is equivalent to approximately USD148 million after expenses,
will be used to support the business development of the Company’s hospital group business, business
operation of its finance and advisory business, and general corporate purposes. Genertec Universal
Medical believes that the funding will further strengthen its strategic presence and leadership in the
healthcare industry.
The Company is an integrated healthcare service provider with focuses on the fast-growing healthcare
service industry in China. Leveraging its own rich medical resources and strong financial strength, the
Company strives to build up a trustworthy healthcare conglomerate focusing on medical services and
supported by financial services so as to gradually build a shared and win-win healthcare industrial
ecosystem. Currently, Genertec Universal Medical owns more than 50 hospital operations, with over
15,000 beds.
The Company strives to build up a trustworthy healthcare conglomerate by focusing on medical services
and supported by financial services and leverages on Trustar’s well-established track record of
investments into healthcare and financial services sectors in China and around the world, and its
accumulated extensive experience and resources.
Yichen ZHANG, Chairman of both CITIC Capital Holdings Limited and Genertec Universal Medical, said:
“Trustar and Genertec Universal Medical have fostered a solid long-term strategic partnership over the
years and we are delighted to have participated in their mixed ownership restructuring. We share their
business vision and are happy to help further improve the Company’s corporate governance, strategy
implementation, and capital market initiatives to facilitate its continuing growth and expansion in the
medical and financial services businesses.”
Ends –
About Genertec Universal Medical Group Limited
Genertec Universal Medical Group is a leading healthcare group in China and a listed subsidiary of
Fortune 500 company China General Technology (Group) Holding Co., Ltd, a backbone state-owned
enterprise under direct administration of the PRC central government. Focusing on China’s fast developing healthcare service sector and relying on the rich global healthcare resources and strong
capital strength, Genertec Universal Medical strives to build up a trustworthy healthcare conglomerate
focusing on medical services and supported by financial services so as to gradually build a shared and
win-win healthcare industrial ecosystem. For further information about the company and the relevant
announcement, please visit https://en.umcare.cn/.
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities
globally and has completed over 80 investments since inception across China, Japan, U.S., Europe, etc.
Trustar Capital currently manages USD7.7 billion of committed capital. For more information, please visit
www.trustarcapital.com.
Trustar Capital is a private equity affiliate of CITIC Capital Holdings Limited. Founded in 2002, CITIC
Capital Holdings Limited is an alternative investment management and advisory company. The firm
manages over USD36 billion of capital across 90 funds and investment products through its multiple
asset class platform covering private equity, real estate, structured investment & finance, and asset
management. CITIC Capital has over 150 portfolio companies that span 11 sectors and employ over
800,000 people around the world.
For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com
Irene GAO
Senior Associate, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6814
irenegao@citiccapital.com