Cornell Capital completes first Asian investment

The private equity firm, founded in 2013 by Henry Cornell, a former vice chairman of Goldman Sachs, has $3.1 billion in assets under management and offices in New York and Hong Kong. While investments often have a cross-border angle – and with that some Asian exposure – until now they have focused on US-based companies.

Lorom specializes in cable manufacturing but also has operations covering plastic injection, stamping, die-casting, printed circuit board assembly and tooling processes. It serves as a one-stop shopping platform for customers in the automotive, industrials, media, technology, and healthcare sectors. The company has approximately 6,000 employees, of which more than 500 are engineers, across six factories. Most of these factories are in China.

Cornell said in a statement that the investment is consistent with its strategy of partnering with strong management teams to further build businesses and unlock growth potential internationally.

“We are impressed by Lorom's founding family and management team and are confident that we can continue to execute our firm's successful partnership-oriented investment approach in the Asian market. Working closely with the Lorom team, we look forward to accelerating the company's financial performance and capitalizing on opportunities to drive continued growth across Asia, Europe and North America,” Henry Cornell said.

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• Topics
• Greater China
• North America
• Buyouts
• Industrials
• China
• Taiwan (China)
• manufacturing
• Cornell Capital