Mandarin commits $19.8m to Italy's Marval

According to a statement, the deal includes about $13.2 million in capital investment and purchased shares as well as a pledge to inject a further $6.6 million in case of further business development needs. The aim of the funding is to support Marval's international growth by leveraging Mandarin networks in both Europe and Asia.

Marval posted sales of about EUR50 million ($54.9 million) in 2015, with more than half coming through the company's Chinese subsidiary ChangSha XiMai Mechanical Construction. The company is engaged in precision mechanical machining of components for tractors, light construction vehicles, light vans, box trucks and luxury sports cars. Its customers include Italian car manufacturer Fiat and global industrial group Atlas Copco.

Mandarin recently closed its Mandarin Capital Partners II (MCP II) fund at just under EUR200 million ($219.7 million), falling short of both a EUR1 billion target set in 2012 and a revised target of EUR400 million. MCP II focuses on companies in healthcare, environmental technology, oil and gas, and specialty chemicals. Check sizes typically range around EUR30-50 million for minority and majority stakes.

The firm's strategy is to support European companies with expansion potential in China through acquisitions, greenfield investments, strategic alliances, identification of customers and selection of personnel. Last year it teamed up with Zoomlion Heavy Industry Science & Technology to buy a 75% stake in Ladurner, an Italian waste treatment and environment protection firm, for $85 million.

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• Topics
• Greater China
• Industrials
• Expansion
• manufacturing
• Mandarin Capital Partners