Date:
07 July, 2008
Company:
CVC Capital Partners
Title:
CVC Launches New Office in Beijing

CVC Launches New Office in Beijing

CVC Launches New Office in Beijing

7 July 2008 – CVC Capital Partners (“CVC”), one of the leading global private equity firms, announces the opening of its Beijing office. CVC manages approximately US$46 billion in private equity funds. The new Beijing office, together with the Hong Kong office, will enable CVC to target more effectively and invest in companies in China, further demonstrating its strong commitment in China and to the region.

CVC is also pleased to announce that Mr. Zhu Wei has joined the firm as Managing Director and head of the Beijing office. Mr. Zhu joins from Goldman Sachs where he was a managing director of the China investment banking team and headed the investment banking coverage in Shanghai.

“I am thrilled to join CVC and to be a part of the firm’s well established team in Asia Pacific,” said Mr. Zhu. “CVC has an outstanding track record across the region, with a very strong investment team and a strong reputation for professionalism and value-added approach towards investments. I look forward to helping the firm further develop its investment portfolio in China.”

William Ho, Managing Director, commented: “China continues to be a highly attractive market for CVC and we are committed to China as a long term and trusted investor. CVC is excited to expand its presence in China with the new Beijing office. We are extremely pleased to have Zhu Wei join our team and we look forward to working with him to build on CVC’s success in China.”

Mr. Zhu will add to CVC’s senior team for China, which includes Francis Leung, William Ho, and Alvin Lam. Mr. Leung was formerly Chairman of Citigroup’s Investment Banking business in Asia-Pacific and has been working with CVC to find investment opportunities. He also serves as a non- executive Board director on several CVC China investee companies. William Ho is a Managing Director at CVC and joined in 1999 when CVC was established in Asia. Mr. Ho has over 14 years of private equity experience and has completed over 15 investments in China. Alvin Lam joined in 2005 and is a Director at CVC who actively pursues investment activities in China. Prior to CVC, Mr. Lam worked at Boston Consulting Group and at Philip Morris International.

Over the past two years, CVC has completed several major transactions in Greater China including:

  • Plantation Timber Products (“PTP”): China’s leading thin MDF board supplier
  • Zhuhai Zhongfu: China’s #1 plastic (PET) bottle manufacturer and listed on the Shenzhen Stock Exchange
  • Asia Dekor: China’s leading laminate flooring manufacturer and integrated with PTP
  • Nien Made: Asia’s largest window blinds and shutters manufacturer
  • Hung Hing (pending completion): China’s leading printing and packaging company

These deals are mostly large scale and proprietary, with control features. The five companies listed above together have combined annual sales of RMB 13 billion, own over 120 factories and employ over 46,000 workers in China.

Globally, CVC and its affiliates have invested in a number of companies with significant operations in China, including: Amtek (Singapore’s largest precision metal company); Taminco (the world’s largest producer of alkylamines and derivatives); and most recently, Evonik, a global leader in specialty chemicals based in Germany.

About CVC

CVC Capital Partners is a leading global private equity and investment advisory firm founded in 1981, with a network of 19 Offices throughout Europe, Asia and the United States. Since 1981, it has completed over 250 investments across a wide range of industries and countries. CVC Capital Partners manages approximately US$46 billion in private equity funds.

CVC is one of the leading private equity firms in Asia, and has completed over 30 investments with an enterprise value of over US$19 billion. CVC's Asia Pacific investments include:

  • PBL Media: Australia's largest diversified media group (including Channel Nine, ACP Magazines and NineMSN)
  • DCA: the largest diagnostic imaging center operator in Australia
  • Amtek: Singapore’s largest precision metal company
  • Magnum: Malaysia’s largest lottery operator

Selected European investments include:

  • Formula One: the world's leading motor sport management business
  • Samsonite: the global luggage company
  • Cortefiel: one of the largest apparel retailers in Spain
  • Debenhams: Britain's leading department store group
  • Seat Pagine Gialle: the leading directories business in Italy
  • De la Poste: the Belgian postal services operator
  • Post Danmark: the Danish postal services operator

About Mr. Zhu Wei

Mr. Zhu was a managing director of Goldman Sachs Gao Hua Securities Ltd. He was also a member of Goldman Sachs' China investment banking operation committee and headed the investment bank's Shanghai coverage. Prior to joining Goldman Sachs, Mr. Zhu served as the president of A.T. Kearney's Greater China region and Roland Berger China. He has over 20 years of combined experience in investment banking, management consulting and corporate management.