Shentou Capital assisted Wuxi LEAD Intelligent in acquiring ONTEC Automation
Wuxi Lead Intelligent Equipment Co., Ltd. (Wuxi LEAD) announced the acquisition of ONTEC Automation GmbH (ONTEC), a German-based automation equipment manufacturer, in October 2022. This acquisition made Wuxi LEAD the first Chinese lithium equipment manufacturer to establish a technology center in Europe. Shentou Capital served as the exclusive financial advisor of Wuxi LEAD for this transaction.
Shentou assisted NKY in the sale of BioVision to Abcam for $340 million
Abcam plc (“Abcam” or “the Company”), a global leader in the supply of life science research tools, made an announcement on August 2nd regarding its definitive agreement to acquire BioVision, Inc. (“BioVision”). BioVision is a wholly-owned subsidiary of Boai NKY Medical Holdings Ltd. (“NKY”). Shentou played a role in facilitating the sale transaction between NKY and Abcam.
Shentou assisted Actblue to acquire VT Faulquemont - the exhaust gas treatment system business unit
On March 1st, 2021, Actblue Co., Ltd. (listed in A shares in China, ticker: 300816, referred to as “Actblue”) announced the signing of a “Put Option Agreement” with Vitesco Technologies Lohmar Verwaltungs GmbH (referred to as “Continental VT Lohmar”). Actblue’s intention is to acquire 100% of the shares of Vitesco Technologies Faulquemont SAS (referred to as “Continental VT FQM”) and other related assets. Shentou played a role in facilitating the acquisition process for Actblue.
Assisted Grammer With Public Takeover Offer From Jifeng
On May 29th 2018, Grammer AG (Grammer) announced the signing of a comprehensive Business Combination Agreement with affiliated companies of Ningbo Jifeng (“Jifeng”). Under this agreement, Jifeng will make a voluntary public takeover offer for all outstanding shares of Grammer. The offer entails a total consideration of €61.25 per share (equivalent to a total valuation of US$889 million), representing a premium of 19.4% over the previous day’s closing price and 11.7% over the average price targets set by German stock market analysts on the previous day. If successful, the takeover offer will make Jifeng the controlling shareholder of Grammer, holding 50% plus one shares.
This announcement marks the culmination of Grammer’s equity contention over the past two and a half years. Throughout this period, Shentou Capital (Shentou), acting as Grammer’s M&A advisor in China, provided guidance and support, ultimately facilitating Grammer’s cooperation with Jifeng. Despite the challenges Jifeng faced in acquiring Grammer, Shentou aided the employees and management team of Grammer in successfully fending off a hostile takeover attempt by the Hastor family. This was achieved by introducing a Chinese “White Knight” in the form of Jifeng, who became a new shareholder by subscribing to an additional 9% of Grammer shares – the first such instance in Germany. With the support of shareholders, labor unions, and communities, Grammer effectively resisted the Hastor family’s attempts to replace the entire management team and take over the company.
As a result, Shentou assisted Grammer in signing a comprehensive strategic cooperation agreement with Jifeng, which led to Jifeng increasing its shares in Grammer to become the largest shareholder at 25%. Subsequently, Shentou worked closely with Grammer’s management team, supervisory board, and labor union to reach agreements with Jifeng on various acquisition-related matters, culminating in Jifeng launching the comprehensive takeover offer as announced.
In accordance with the Business Combination Agreement, Jifeng has made the following commitments:
The headquarters and production sites of Grammer will remain unchanged.
Commitment to retaining the current employees.
The guarantee of job security for employees, customers, and suppliers for a period of up to 7.5 years.
Further investments in Grammer for revenue growth and research and development.
With the support of the management team, supervisory board, and labor union, the comprehensive offer from Jifeng has gained unanimous backing, as everyone is committed to the growth and success of Grammer.
It is worth noting that Shentou also played a successful role in assisting Grammer with the acquisition of TMD (Toledo Molding & Die Inc.) in the United States from 2017 to 2018.
Shentou provided a fairness opinion to assist Grammer AG in the acquisition of TMD
Grammer AG (“Grammer”), a client of Shentou, has entered into a contract to acquire 100% of the shares of Toledo Molding & Die Inc. (“TMD”). Headquartered in Toledo, Ohio, TMD specializes in the development and production of thermoplastic products and applications, primarily for vehicle interiors in the automotive and automotive supply industries. Based on preliminary figures, TMD achieved revenues exceeding $300 million in the 2017 financial year. The company operates 11 facilities in the United States and Mexico, employing approximately 1,600 individuals. Shentou provided a fairness opinion to support Grammer in the acquisition process.
Shentou assisted GRAMMER AG in issuing a Mandatory Convertible Bond
In 2017, Shentou served as the M&A consultant for Grammer AG, providing assistance in the issuance of a 10% Mandatory Convertible Bond to Ningbo Jifeng. Additionally, Shentou provided advisory support for further M&A activities undertaken by GRAMMER.
Shentou advised and helped JD Capital
Shentou played a role in providing advisory services and assistance to JD Capital.
Set up Joint Venture YC Europe
Set up a joint-venture company YC Europe with Yuchai Group in Europe.
Set up a joint-venture company with Zhejiang Geely Group in the Republic of Belarus.
Helped the world’s leading diesel engine maker Deutz AG to set up a joint-venture with First Automobile Dalian Diesel Engine Factory.
Set up a joint-venture company with ISKRA in Slovenia and Fawer Automotive Parts Company.
Shentou Investment acquired an 80% stake in Changzhou Planet Electronics Company.
Helped Yili Group to set up a joint-venture with the Germany company TOEPFER to produce baby formula.
Helped the number one carbon factory in China’s carbon industry, Jilin Carbon Group, to acquire the third largest player, Shanghai Carbon Company.
Assisted in the cooperation between Jilin Carbon Company and the Germany company SGL CARBON.
Helped TCL to acquire the Germany company Schneider Rundfunkwerke AG.
Helped set up the joint-venture between German company ALLIGATOR and Shanghai Shenzhen Coating Material Company.
Involved in the FAW/VW localization project as a Consultant for German clients; helped Volkswagen set up the 827 engine factory in China; assisted German company Ex-Cell-O AG to establish a joint venture company with FAW Special Engine Factory.
Helped the Bauer Media Group in Germany to obtain approval from the Chinese Government to set up a joint-venture publication company in China and published “COSMO LADY”.
Organized a compensation trade between NAK AG, the second largest printing and dyeing group in Europe, and Nantong National Textile Factory No. 2 in China, with the Nantong factory buying shuttleless looms and air-jet looms in large scale and paying with grey