CDIB Capital invests in US-based Smith-Cooper
CDIB Capital, the overseas investment arm of China Development Financial Holding Corporation, has invested in Smith-Cooper International, a US-based manufacturer of pipe, valves and fittings. Blue Point Capital Partners also participated in the funding round.
Founded in 1993, Smith-Cooper services more than 2,500 customers globally across sectors such as commercial, industrial, energy, refining and fire protection. Headquartered at California, it also sources products from Chinese and Taiwanese manufacturing partners.
"We are very excited to work with Smith-Cooper's talented management team to continue the company's impressive track record," said Lionel de Saint-Exupery, president and CEO of CDIB Capital. "Going forward, our US and China teams led by Nan Zheng and Victor Gao, respectively, will work closely together with Smith-Cooper and Blue Point Capital to bring strategic and operational value add, with a focus on sourcing efficiencies in Asia."
As part of the transaction, Gao, managing director and head of CDIB Capital's Shanghai office, will join the company's board.
Headquartered in Hong Kong, CDIB Capital focuses on middle market growth capital transactions, with a sector bias towards consumer, TMT, financial services and high-end manufacturing.
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