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  5. The Abraaj Group Acquires Weifang Shengrui Parts & Machinery Co.

M&A Deal Summary

The Abraaj Group Acquires Weifang Shengrui Parts & Machinery Co.

On July 1, 2008, asset manager The Abraaj Group acquired manufacturer Weifang Shengrui Parts & Machinery Co.

Acquisition Highlights
  • This is The Abraaj Group’s 2nd transaction in the Manufacturing sector.
  • This is The Abraaj Group’s 3rd transaction in China.

M&A Deal Summary
Date 2008-07-01
Target Weifang Shengrui Parts & Machinery Co.
Sector Manufacturing
Buyer(s) The Abraaj Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Weifang Shengrui Parts & Machinery Co.

P.R. of China, China
An industry leader in the manufacture of core diesel engine components of commercial vehicles, such as those used in the construction and agriculture industries. Shengrui's larger customers include Caterpillar, International Truck & Engine Corporation, Volvo, Samro and Weichai Power (the largest domestic diesel engine manufacturer in China). Weifang (XDKJ) clients are mainly domestic beer factories such as Huaren Beer, Qingdao Beer, Haerbin Beer and Chongqing Beer. In addition to direct sales, XDKJ has about 20 agents in different cities.

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Buyer(S) 1

Buyer

The Abraaj Group

Dubai, United Arab Emirates
Category Asset Manager
Founded 2002
PE ASSETS 7.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Abraaj Capital Limited is a private equity firm that seeks investments in the Middle East, North Africa, and South Asia. Abraaj looks for stable, mature businesses and uses a 'buy and build' strategy for growth. Areas of interest include aerospace, healthcare, transportation, financial services, leisure, education, energy, and manufacturing. In addition to its buyout and growth capital investments, Abraaj also invests in real estate and infrastructure. Abraaj Capital was formed in 2002 and is based in Dubai.

DEAL STATS #
Overall 52 of 182
Sector: Manufacturing M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 47 of 144
Country: China M&A 3 of 5
Year: 2008 M&A 10 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-01 Pacific Retail

Tonga

Pacific Retail is the holding company for several divisions in Tonga. These include OE, a supplier of office equipment and stationery, printing and graphic design supplies; PTH, a supplier of hardware and construction material; ACE Lionvest Timber & Hardware; Courts Tonga; Sportsworld Tonga; and Leiola Group. The company continues to review other opportunities to expand and diversify its retail operations in Tonga.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-01 Leasing Group

Kazakhstan

Leasing Group started operations in 2005 in Kazakhstan. Its primary business is financial leasing with a focus on small and mid-sized companies. The group hires out construction and mining equipment, transportation vehicles and various manufacturing equipment. As of the end of 2011, the value of the leasing portfolio reached US$ 12.4 million, the number of lease agreements was 184, with 44 lessees. Since investment, the company has returned US$ 1.29 million in loan and interest repayments (13% of investment cost).

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