3i exits auto parts firm to Chinese buyer, nets 2x return
3i has sold Hilite International, a German suppler of auto engine and transmission parts, to China's AVIC Electromechanical Systems for EUR473 million ($643.8 million), generating a 2.1x return.
Hilite makes products intended to improve car fuel efficiency and reduce emissions. 3i acquired the company in 2011 for EUR190 million in an all-equity transaction. During the holding period, Hilite...
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