Phoenix Technology News, Beijing time on June 13, according to the online edition of the “Financial Times”, Hande Capital, a Chinese private equity investment firm established last year, acquired a European company.industryRobotcompany, which is China’s acquisition of Western industryautomationThe latest example of technological endeavours.
Hand Capital said on Sunday that it had struck a deal to buy Italian industrial robotics company Gimatic for 100 million to 150 million euros. Hande Capital did not disclose the specific purchase price.
Hand Capital was founded by Cai Hongping, a former Deutsche Bank executive, with the goal of “building a smart industry”, focusing on the so-called fourth-generation industrial revolution.
The Gimatic acquisition is Hande Capital’s first on its own, but it is part of a consortium led by China National Chemical Corporation that bought KraussMaffei Group – Germany’s largest – for €925 million in Januarymechanicalone of the suppliers.
Although the acquisition of Gimatic is relatively small, this transaction represents an important direction for Chinese investment. Last month, Midea made an offer to acquire German robotics company KUKA.
Midea’s 4.6 billion euro bid for Kuka has raised concerns among some government officials about the loss of German technology. German Economy Minister Gabriel has been trying to form a German or European consortium to bid for Kuka with Midea.
Gimatic was founded 31 years ago, and its annual revenue has increased by more than 20% in the past three years, and 80% of its business has come from Europe. Although Asia accounts for less than 10% of Gimatic’s revenue, it is considered to be the most promising market.
Heiko von Dewitz, managing partner of Hande Capital in Munich, said Hande Capital’s strategy is “to increase revenue through internationalization. Gimatic has always put more emphasis on profits, and we will change this. Happening”.
Hand Capital’s acquisition of Gimatic is in line with the Chinese government’s strategy to upgrade its infrastructure last year, with the aim of making China less reliant on labor and becoming a manufacturing powerhouse.
“Half of the growth in the global industrial automation and robotics sector will come from China. The global automation market will grow by 10%-15%, and China will grow by 20%, which allows us to understand the growth trend in China,” said Van DeWitz.
Van de Weitz said that expanding the Chinese market is a huge opportunity for European technology companies. While big corporations are aware of this, companies with revenue between $30 million and $150 million are lagging behind, “who know they have to enter the Chinese market strategically, they just don’t know how”.
According to market research firm Dealogic, Chinese companies have offered 72 billion euros to buy 119 European companies this year, up from 33.5 billion euros for the whole of last year.
According to Dealogic, Italy was the number one destination for Chinese acquisitions in Europe last year, with 14 companies acquired for a total purchase price of 10.6 billion euros. Gimatic is the ninth Italian company acquired so far this year.
Van DeWitz said the Gimatic deal was a “typical leveraged buyout” and Hande Capital could close one or two more deals this year. (compile/frostleaf)
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