Shaw Kwei to support German manufacturer in China expansion
Shaw Kwei & Partners has invested $40 million in German equipment manufacturer Schmid Group to support the company’s expansion domestically and in China.
The investment is structured as a subscription to a convertible bond issued by Schmid.
The company was founded in 1864 as an iron foundry and mechanical factory. It is now a leading manufacturer of capital equipment, photovoltaic products, printed circuit boards, flat panel displays, factory automation solutions, and specialist equipment for the medical, pharmaceutical and energy industries. The company has design and production facilities in Germany, China, Switzerland and the US.
"Our investment with Schmid Group is a unique opportunity to work with a global management team with a deep understanding of leading-edge manufacturing and automation equipment," Kyle Shaw, managing director and founder of Shaw Kwei, said in a statement. "Schmid Group has a genuine history of product innovation over several decades and a proven record of developing technology for its customer requirements and needs."
Founded in 1999, Hong Kong-based Shaw Kwei targets mid-size consumer and manufacturing businesses in China, Hong Kong, Taiwan and Singapore. The investment in Schmid came from the firm's third fund, raised in 2011. Last week, Shaw Kwei paid $17 million for a 60% stake in Singapore marine logistics firm Amos International.
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