China-Israel fund invests $42m in Swiss tool maker
Catalyst CEL Fund, a joint venture between China Everbright and Israel-based Catalyst Equity Management, will invest approximately $42 million in Lamina Technologies, a Switzerland-based tool manufacturer.
The investment comprises $10 million in new capital to fuel global expansion and up to $32 million to be distributed to Lamina's existing shareholders. Catalyst CEL will take a controlling stake in the company in partnership with existing management. Brothers Peleg and Yuval Amir, who co-founded Lamina in 2001, will retain their leadership positions as the second-largest shareholder in the business.
The company already has a strong presence in Europe, Asia Pacific, Latin America and North America, and the Catalyst CEL sees significant opportunities for expansion in China.
Lamina produces state-of-the-art, precision carbide metal cutting tools, specializing in milling and turning equipment. It supplies metalworking and machinery manufacturers and suppliers in industries such as general engineering, aerospace, defense, automotive and transportation.
"Lamina is well positioned for China's macro developments and the ongoing domestic technological upgrade as China is a key market with significant room for growth," Shengyan Fan, managing partner of Catalyst CEL, said in a statement.
The Catalyst CEL Fund, jointly managed by Catalyst Equity Management and China Everbright, primarily targets mid-to-late stage companies with proven innovation and global presence. The fund launched last October and reached a first close of $100 million in February. It is looking to raise $200 million with a hard cap of $300 million. China Everbright has provided $75 million in seed capital.
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