M&A Deal Summary

Bain Capital Private Equity Acquires CN Innovations

On June 17, 2021, private equity firm Bain Capital Private Equity acquired manufacturer CN Innovations from AIF Capital

Acquisition Highlights
  • This is Bain Capital Private Equity’s 7th transaction in the Manufacturing sector.
  • This is Bain Capital Private Equity’s 13th transaction in China.

M&A Deal Summary

Date 2021-06-17
Target CN Innovations
Sector Manufacturing
Buyer(s) Bain Capital Private Equity
Sellers(s) AIF Capital
Deal Type Secondary Buyout

Target

CN Innovations

Hong Kong, China
CN Innovations is a metal injection molding and physical vapor deposition company. CN Innovation is an expert in material science, precision engineering, and surface treatment for mainly metal and glass components used in a variety of industries, including consumer electronics, watches, automobiles, and industrial and medical equipment. CN Innovations was founded in 1935 and is based in Hong Kong, China.

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Buyer(S) 1

Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 199 of 246
Sector (Manufacturing) 7 of 7
Type (Secondary Buyout) 50 of 70
Country (China) 13 of 15
Year (2021) 7 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-08 ExtraHop

Seattle, Washington, United States

ExtraHop is on a mission to arm security teams to confront active threats and stop breaches. The Company's Reveal(x) 360 platform, powered by cloud-scale AI, covertly decrypts and analyzes all cloud and network traffic in real time to eliminate blind spots and detect threats that other tools miss. Sophisticated machine learning models are applied to petabytes of telemetry collected continuously, helping ExtraHop customers to identify suspicious behavior and secure assets. ExtraHop was founded in 2007 and is based in Seattle, Washington.

Buy $900M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-23 Icelandair Group

Reykjavik, Iceland

Icelandair Group operates in the international airline and tourism sectors for decades. Icelandair Group's fleet comprised a total of 46 aircraft, of which 36 were owned by the Company. Icelandair Group was founded in 1937 and is based in Reykjavik, Iceland.

Buy -

Seller(S) 1

SELLER

AIF Capital

Hong Kong, China

Category Growth Capital Firm
Founded 1994
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

AIF Capital Ltd. is an independent private equity firm focused on investment opportunities across Asia, including China, India, and Southeast Asia. AIF looks for businesses benefiting from Asia's rising domestic consumption and the growth of the middle-class. Sectors of interest include supply chain management, financial services, manufacturing, consumer products, engineering services, energy, retail, distribution, healthcare, media, telecom, and transportation. Target transaction situations include growth capital financings, buyouts, and special situations. AIF Capital was formed in 1994 and is based in Hong Kong with additional offices in Beijing, and Singapore.


DEAL STATS #
Overall 6 of 6
Sector (Manufacturing) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (China) 3 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-08 Jiangsu Aosheng Composite Material Technology

Wujiang, China

Jiangsu Aosheng Composite Material Technology Co. is a carbon fiber composites producer in China. Its high-quality products have wide downstream applications in infrastructure reinforcement, medical equipment, 3C (computer, communications, consumer electronics) products, wind power, and automotive segments. Jiangsu Aosheng Composite Material Technology Co. is based in Wujiang, China.

Buy -