M&A Deal Summary

Zhejiang Jingu Acquires Hess Industries

On November 14, 2012, Zhejiang Jingu acquired machinery company Hess Industries for 19M USD

Acquisition Highlights
  • This is Zhejiang Jingu’s 1st transaction in the Machinery sector.
  • This is Zhejiang Jingu’s largest (disclosed) transaction.
  • This is Zhejiang Jingu’s 1st transaction in the United States.
  • This is Zhejiang Jingu’s 1st transaction in Michigan.

M&A Deal Summary
Date 2012-11-14
Target Hess Industries
Sector Machinery
Buyer(s) Zhejiang Jingu
Deal Type Special Situations/Distressed
Deal Value 19M USD

Target

Hess Industries

Niles, Michigan, United States
Hess Industries, Inc. engages in engineered, fabricated and installed custom metal-forming equipment and integrated manufacturing systems for the automotive, heating, ventilation and air conditioning, and electrical home appliance industries.

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Buyer(S) 1

Buyer

Zhejiang Jingu

Fuyang, China
Category Company
Founded 1986
Sector Automotive
Employees1,739
Revenue 2.6B CNY (2020)
DESCRIPTION

Zhejiang Jingu Co. is a steel wheel manufacturer in China. Company products include tubeless truck wheels, passenger car wheels, trailer wheels and agriculture vehicle wheels, etc. Zhejiang Jingu Co. was founded in 1986 and is based in in Fuyang, China.

DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Special Situations/Distressed) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

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