Chinese strategic buys UK subsea vehicle business from PE
CSR Corporation, best known as China’s largest manufacturer of metro cars, has agreed to buy UK-based subsea vehicle maker Specialist Machine Developments (SMD) from Inflexion Private Equity for an enterprise valuation of GBP120 million ($184 million).
CSR is making the acquisition via its Hong Kong-listed subsidiary Zhuzhou CSR Times Electric, which specializes in the development of electric traction technology and converter technology for a variety...
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