CRCI sells Grant Achieve Global stake to Olympus Capital

In connection with the transaction, Olympus has acquired a warrant to purchase ordinary shares in GAG worth up to $40 million.

GAG was set up in 1999 by Canada's Grant International Group as Beijing Grant Membrane Separation. It took on its present name when the company was restructured as an offshore entity with an onshore wholly foreign-owned enterprise beneath it.

GAG specializes in membrane technologies used in water purification, waste water treatment and water reclamation. It claims to have serviced more than 500 clients globally, including Sinopec, China National Petroleum Corp. (CNPC), China Railway Construction Group (CRCG), Huiyuan Group and Harbin Pharmaceutical Group.

This is CRCI's second exit in three months, after Schlumberger acquired a portion of CRCI-owned shares as part of its purchase of a 20.1% stake in Hong Kong-listed Anton Oil. The private equity firm has just launched its third fund, which has a target of $750 million.

Sullivan & Cromwell advised CRCI on the GAG exit.

Clean energy and environmental services is one of Olympus Capital's three investment verticals, alongside agribusiness and resources and financial and business services.

The private equity firm has a dedicated environment fund and recently participated in a consortium that invested $150 million in Shenzhen-based Zhaoheng Hydropower, following a similar-sized commitment two years ago.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Cleantech
• Greater China
• Exits
• Expansion
• Secondaries
• Olympus Capital Holdings Asia
• China Renaissance Capital Investment
• Exit
• Growth capital
• Cleantech
• China