Deal focus: CITIC Capital gears up global strategy
When CITIC Capital and Crestview Partners bought Canadian auto parts supplier Stackpole International for $512 million in 2013, they had little suspicion that they would be exiting less than two years later. But they did feel that Stackpole’s variable-speed oil pumps and lightweight powdered metal components could earn it a lucrative place in the accelerating market for fuel-efficient vehicles.
CITIC also believed that the company had the chance to turn its negligible presence in China into a significant one. "It's easy to go into a deal like Stackpole, see that there's no revenue in China...
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