The Asia Strategic Capital Fund has invested $40m in strategic mezzanine capital in steel components manufacturer Anhui YingLiu Group. The investment has been made alongside a co-investor in the fund. The capital will be used to expand the company’s production capacity and to refinance its debt.
Anhui YingLiu Group manufactures steel components for manufacturers of construction, mining and energy industry-related equipment. Customers include Caterpillar, Emerson, Tyco, Joy Global, Schlumberger and Nabors Industries, as well as other Chinese equipment manufacturers.
Funds managed by Chinese private equity fund managers, CDH Investments and China Everbright Investment Management, are substantial minority shareholders of Anhui YingLiu Group, according to a statement.
The Asia Strategic Capital Fund is managed by the Asia Mezzanine Capital Group. The firm provides flexible intermediate capital and makes transactions of between $15-50m.
Source: Altassets
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