(Hong Kong, 17 March 2021) Trustar Capital (formerly known as CITIC Capital Partners), a private equity affiliate of CITIC Capital Holdings Limited, announced that it has completed its investment in Swiss-based global leading medical technology company MedAlliance SA (‘The Company’ or ‘MedAlliance’), becoming MedAlliance’s single largest shareholder. The investment will be used to fund the commercialization and roll-out of MedAlliance’s key product SELUTION SLRTM.
Headquartered in Nyon, Switzerland, MedAlliance is dedicated to developing and manufacturing of innovative drug-eluting balloons (DEBs) for patients suffering from life-threatening coronary and peripheral arterial disease. Using breakthrough proprietary technology, MedAlliance has found a unique solution to the challenge of controlled and sustained sirolimus release with SELUTION SLR TM. The unique technology has demonstrated impressive clinical trial results and is the first DEB company in the world to receive US Food and Drug Administration (FDA) Breakthrough Device Designation Status for a coronary DEB. Recently MedAlliance has received the fourth breakthrough designation award by FDA for its sirolimus DEB. MedAlliance’s technology is now available In Europe and other countries that recognize CE Mark and is in the process of completing FDA registration in the U.S.
Cardiovascular diseases (CVDs) are the number 1 cause of death globally. “Global Burden of Cardiovascular Diseases and Risk Factors, 1990–2019”, a report from J Am Coll Cardiol showed that total number of CVDs cases reached 523 million in 2019. According to a study published by the National Center for Cardiovascular Diseases in September 2020, there has been continued growth in the number of patients with cardiovascular disease in China. The demand for quality treatment and the development of newer technology related to coronary and peripheral diseases will continue to rise, especially in markets like China. MedAlliance has already commenced clinic trials of its core product SELUTION SLR TM in the Chinese market, and will continue to actively expand its footprints there.
“We are very pleased to have Trustar as a valued partner and to have established a strong relationship with their team over a substantial period of time. Their in-depth knowledge and expertise in the global medical device market will be of tremendous benefit to us”, said Jeffrey B. JUMP, Chairman and CEO of MedAlliance. “Validation from this highly successful and respected organization represents a significant endorsement of both our technology and our team and will help us to improve and extend the lives of patients around the world.”
Boon CHEW, Senior Managing Director and Managing Partner of Trustar Capital, said: “The global market size for medical devices addressing coronary and peripheral diseases has increased in recent years. In particular, we have seen exciting breakthroughs in technological development and clinical adoption in the interventional device space. MedAlliance has a very solid team of seasoned veterans with strong R&D capability and has successfully developed innovative products that lead the market in terms of technology and registration progress. We have been closely following MedAlliance for a considerable amount of time and have established a strong relationship with its management team. We are excited to be working together and will continue to bring good news to coronary and peripheral disease patients worldwide.”
Haiwen & Partners provided legal advice to Trustar Capital on the transaction.
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About MedAlliance
Founded in 2008, MedAlliance is a privately-owned medical technology company. It is headquartered in Nyon (Switzerland), with facilities in Irvine (California), Glasgow (UK) and Singapore. MedAlliance specializes in the development of ground-breaking technology and commercialization of advanced drug device combination products for the treatment of coronary and peripheral artery diseases. For further information, please visit https://medalliance.com.
About Trustar Capital
Trustar Capital (formerly known as CITIC Capital Partners), focuses on control buyout opportunities globally and has completed over 79 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages USD7.6 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 USD35 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
(New York, 18 February 2021) CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”), and Blue Sea Capital LLC (“Blue Sea”) announced today the sale of its investment in DDS Lab, LLC (“DDS Lab” or the “Company”) to RoundTable Healthcare Partners. The transaction represents the culmination of a successful long-term partnership with DDS Lab’s management team, led by Mr. Bart DOEDENS, Chief Executive Officer, whose team will continue to lead the company going forward. Financial terms of the transaction were not disclosed.
Based in Tampa, Florida, DDS Lab is a leading high-growth global dental laboratory providing a comprehensive line of fixed crown and bridge, removable, implant and orthodontic products to over eleven thousand dentists across the United States.
“We are proud to have supported DDS Lab’s management team over the last few years. Through investments in the Company’s organization and digital capabilities, the team did a phenomenal job driving robust organic growth and solidifying its position in the market,” said Hans ALLEGAERT, Managing Director at CITIC Capital. “We have thoroughly enjoyed working alongside the DDS Lab team and wish them all the best going forward.”
J.R. DAVIS, Managing Partner at Blue Sea, added, “DDS Lab’s consistent long-term growth and market share gains reflect a best-in-class offering to its customers combining top-quality craftmanship, industry-leading manufacturing technologies, and dedicated customer service. We are pleased to have supported further advancement of this offering during our partnership, including approximately doubling the number of DDS Lab team members to 1,200 today.”
DDS Lab CEO Mr. DOEDENS commented, “On behalf of the management team at DDS Lab, we’d like to thank CITIC Capital and Blue Sea Capital. They have been great partners and supportive of the investments made to transform and grow the business.”
Moelis & Company LLC and Houlihan Lokey Capital Inc. served as financial advisers and Paul Hastings LLP served as legal counsel for the transaction.
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About DDS Lab
Established in 2005, DDS Lab is a National Board Certified full-service dental laboratory that sells custom dental prosthetic appliances to dental service organizations, mid-size group practices, and independent dentists across the United States. The company is headquartered in Tampa, Florida. For more information on DDS Lab’s products and services, please call +1 877 337 7800 or visit www.ddslab.com.
About CITIC Capital
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD35 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.
CITIC Capital’s private equity arm, CITIC Capital Partners, focuses on control buyout opportunities globally and has completed over 79 investments since inception across China, Japan, U.S., Europe, etc. CITIC Capital Partners currently manages USD7.6 billion of committed capital. For more information, please visit www.citiccapital.com.
About Blue Sea Capital
Blue Sea Capital is a private equity firm based in West Palm Beach, Florida that invests in growth-oriented lower middle market companies valued up to $250 million. The firm has over $750 million in assets under management and invests across three industry verticals: aerospace & defense, healthcare and industrial growth. Blue Sea Capital’s strategy is to partner with talented managers and differentiated companies, typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance and business transformation. For more information, please visit www.blueseacapital.com
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
J.R. DAVIS
Managing Partner
Blue Sea Capital
Tel: +1 561 573 8273
jdavis@blueseacapital.com
(Hong Kong, 22 January 2021) Private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”) is pleased to announce that it has completed its investment in Shanghai Xiangmiao Trade Co., Ltd., brand owner of RECLASSIFIED (“RE” or “the Company”) via its third RMB-denominated China buyout fund on 18 January 2021. The transaction marks the eighth completed acquisitions in the beauty and lifestyle sector in recent years, and the on-going expansion of its exposure and footprint in the space.
Founded in Shanghai in 2013, RECLASSIFIED is a leading Chinese prestige perfumery house that has created a variety of iconic original scents featured in its extensive portfolio of products, including perfume, home fragrance, car fragrance, scented candles, and scented personal care products. The company runs over 100 retail outlets spanning 50 cities nationwide, offering customers extraordinary experience with scents and senses.
Mac LIN, CEO of RECLASSIFIED, said: “The name RECLASSIFIED is a combination of ‘RE’ and ‘Classified’, illustrating our determination to differentiate and refusal to be classified. Each bottle of RECLASSIFIED fragrance has its own story and a philosophy. Since its establishment, the brand has vowed to work only with world-leading perfumers and developers to create high-quality, original fragrances and genuine experiences that are unique to Chinese consumers. We are committed to bridging interesting culture, upholding individuality, and expressing freedom for our consumers.”
Hanxi ZHAO, Senior Managing Director of CITIC Capital, said: “Consumers in China today have high aspiration for better lifestyle. This aspiration has stimulated the rapid development of related sectors. The growth of the perfume and fragrance sector has been particularly strong, with iconic brands such as RECLASSIFIED emerging in China. RE has a deep understanding of the needs of Chinese consumers and takes pride in its strong heritage in world-class product development. RE also has a strong offline retail network and online presence, enabling the brand to reach a broad consumer base through different channels. We are excited to be working with the young and passionate team of RECLASSIFIED and look forward to witnessing the rising of an authentic Chinese trendsetter in the perfume and fragrance sector.”
CITIC 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 RECLASSIFIED, CITIC 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; Lifestyles/Jissbon and LELO, leading global brands in the intimate wellness sector.
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Note: PricewaterhouseCoopers and Haiwen & Partners provide financial and legal advisory services to CITIC Capital respectively.
About Shanghai Xiangmiao Trade Co., Ltd.
Established in Shanghai in 2013, Shanghai Xiangmiao Trade Co., Ltd. owns “RECLASSIFIED”, a leading Chinese prestige perfume and home fragrance brand. The brand is renowned for its perfume, home fragrance, car fragrance, scented candles, scented personal care products. The company currently runs more than 100 retail outlets spanning 50 cities in China. For details, please visit www.reclassified.cn
About CITIC Capital
Founded in 2002, CITIC Capital is an alternative investment management and advisory company. The firm manages over USD32 billion of capital across 100 funds and investment products through its multi-asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 200 portfolio companies that span 11 sectors and employ over 800,000 people around the world.
CITIC Capital’s private equity arm focuses on control buyout opportunities globally and has completed over 79 investments in the past years in China, Japan, U.S. and Europe. The private equity arm currently manages USD7.6 billion of committed capital. For more information, please visit www.citiccapital.com.
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, 11 January 2021) Private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”) is pleased to announce that it has invested in Max-Inf Holdings Limited ( “Max-Inf” or “the Company”). Leo XU, founder and chairman of Max-Inf, will continue to lead the Company in its next phase of growth.
Founded in 1998 and based in Ningbo and Shanghai, China, Max-Inf is the leading Chinese brand operator and manufacturer in safety technology leading the way in innovative car seats, strollers, travel systems and other baby care related products. Max-Inf’s portfolio of brands include Baby First, Savile, Eurokids, as well as being the long-term exclusive China distributor for Britax, the leading global brand for baby travel safety systems.
Leo XU, founder and chairman of Max-Inf, says: “The mission of Max-Inf has always been bringing the safest baby travel systems to Chinese families. Today, Max-Inf and the multiple brands that it owns and distributes, have become the ultimate choices for parents in China as they try to find the most reliable, trust-worthy and innovative travel systems for their children. Max-Inf holds the highest standard in product quality, and leverages cutting-edge technology in the world in our product design and development. With the support from CITIC Capital, the Max-Inf team is committed to continuing to innovate and to provide best-in-class baby safety and baby care products for families in China.”
Hanxi ZHAO, Senior Managing Director of CITIC Capital, says: “Baby care market in China is an exciting space with increasing consumer sophistication and awareness around child safety. Max-Inf is the leading player in providing the most reliable and innovative mobility-related safety solutions and products. Its products have gained respect and trust from peers, and has a proud history of serving children globally. We are very excited to become the partner of Leo and his talented and passionate management team in the next stage of Max-Inf’s journey. We look forward to seeing more families and children enjoy safe and sound outings.”
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Note: Haiwen & Partners served as legal counsel to CITIC Capital. Fangda Partners and Albright Law Firm acted as legal counsel to the founder.
About Max-Inf
Max-Inf is a leading child safety seats and other travel systems manufacturer in China, with more than 20 years of experience in designing and manufacturing mobility related products. Max-Inf offers a full range of child car seats and other travel products that meet various international standards, which are sold to over 50 countries and regions around the world. In China, Max-Inf’s own brand Baby First is the largest domestic carseat brand and Max-Inf has been the exclusive distributor for Britax, the leading global brand for carseats and strollers. It also owns and operates the Savile and Eurokids brands, providing various child safety related products. For further information about Max-Inf, please visit www.max-inf.com.
About CITIC Capital
Founded in 2002, CITIC Capital is an alternative investment management and advisory company. The firm manages over USD32 billion of capital across 100 funds and investment products through its multi-asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 200 portfolio companies that span 11 sectors and employ over 800,000 people around the world.
CITIC Capital’s private equity arm, CITIC Capital Partners, focused on control buyout opportunities globally, has completed over 78 investments in the past years in China, Japan, U.S. and Europe. The private equity arm currently manages USD7.6 billion of committed capital. For more information, please visit www.citiccapital.com.
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, 16 November 2020) CITIC Capital Holdings Limited (“CITIC Capital”) announced today that a consortium led by its private equity arm and Caixin Global has agreed to a full exit from its investment in ISI Emerging Markets Group (“ISI”) through a sale to Montagu, a leading European private equity firm. Completion of the sale is expected next month, subject to customary closing requirements.
ISI Emerging Markets Group is a leading provider of critical, hard-to-obtain macroeconomic, company and industry digital intelligence for the emerging markets. Subsequent to the carve-out from Euromoney Institutional Investor Plc in 2018 led by CITIC Capital and Caixin Global, the two brands CEIC and EMIS, were successfully integrated under ISI Emerging Markets Group, providing access to 220 million pieces of content from over 6,000 high-quality sources and available in over 15 languages to customers across the globe.
Yichen ZHANG, Chairman & CEO of CITIC Capital said: “We are delighted to have supported ISI’s management team through a period of strong financial performance and organizational development. During our investment, we worked closely with the team to continue to expand ISI’s technology capabilities, product offering and organization, and to deliver robust growth in its subscription numbers, revenue and profitability. With the support from CITIC Capital and Caixin Global, the company also expanded its sales network and enhanced its data coverage, particularly in the rapidly growing China market. ISI has successfully built a resilient business as proven in the global pandemic environment.”
He added: “ISI is another great example of how we unlock value in carve-out deals. Having completed seven carve-outs in recent years, we moved quickly to fully integrate and realize significant synergies between the CEIC and EMIS businesses. We believe the company is well on track to deliver significant future growth.”
HU Shuli, Chairwoman of Caixin Global said: “In the changing world and amid China’s opening of its capital markets, Caixin is devoted to building a financial information and data platform based in China with global impact. Our cooperation with ISI during this time has been effective, particularly as we have brought CEIC deeper into the Chinese market, and brought new opportunities for its development and operation on mobile platforms. We will continue to keep working with ISI and develop the good relationship. Meanwhile, Caixin will continue investing and empowering global data and research institutions. ”
ISI, alongside Focus Media, Omnivision and UCO, is one of the TMT companies invested in by CITIC Capital Partners. These companies have outperformed despite the pandemic. CITIC Capital believes that this space is one of the most active and exciting sectors in China, and will continue to invest in and to focus on opportunities in this area.
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Note: HSBC is acting as sole financial adviser and Gibson, Dunn & Crutcher UK and White & Case are acting as legal advisers to CITIC Capital on the transaction.
About ISI Emerging Markets Group
ISI Emerging Markets Group has been providing world class data, analysis, and research on emerging markets for over 25 years. ISI is comprised of two brands, CEIC and EMIS, which provide critical macroeconomic, company, and industry information under a subscription-based model. ISI has over 540 employees based in 19 offices across the globe.
About CITIC Capital
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD32 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 770,000 people around the world.
CITIC Capital’s private equity arm, CITIC Capital Partners, focuses on control buyout opportunities globally and has completed over 70 investments since inception across China, Japan, U.S., Europe, etc. CITIC Capital Partners currently manages USD7.6 billion of committed capital. For more information, please visit www.citiccapital.com.
About Caixin Global
Caixin Global is one of the most respected sources of macroeconomic, financial and business intelligence on China. Built on Caixin Media’s award winning journalism, Caixin Global delivers fast, reliable business and financial news about China to the world. It offers its English news via a 24/7 digital and mobile platform (caixinglobal.com), and runs a print magazine.
Caixin Global also has an intelligence arm that offers policy analysis, industry monitoring, in-depth research and financial databases with insight into China’s economic policy-making and its financial markets. It organizes a series of high-level global events, including Caixin Roundtables and the Caixin Summit. For more information, please visit www.caixinglobal.com.
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