Global private equity firm The Carlyle Group has invested more than $60m in three high growth Chinese companies.
The transactions were made through the $1.04bn Carlyle Asia Growth Partners IV (CAGP IV) fund, the fourth vehicle of Carlyle Asia Growth Group, which closed in July.
Further details of the transactions were not disclosed.
The deals include investments in:
– Nantong Rainbow Heavy Industry Co., Ltd, a Sino-foreign joint venture that produces ship accessory products such as hatch covers and steel structures for the construction industry and port machinery. RHI is located in one of China’s state-level development zones – the Nantong Economic and Technological Development Zone in Jiangsu Province.
– China Agritech Co., Ltd, a company that specializes in R&D, production and marketing, as well as technical consulting services for high-tech green agricultural products in China. The company has established five production bases in Harbin, Hebei, Anhui, Chongqing and Xinjiang.
– iTour Co., Ltd, a tourism services provider,
Headquartered in Guangzhou, iTour Co. has set up 25 branches in major Chinese cities, including Guangzhou, Shenzhen, Shanghai, Beijing and Hong Kong. Currently, iTour’s services cover more than 300 cities and they are able to provide online business travel booking service for their 1.5 million members.
According to an official statement from The Carlyle Group, these investments aim to further enable the above mentioned companies to build leading positions in their respective industries, boost market share and increase their capabilities in branding, operations management, sales & marketing, and distribution.
Carlyle Asia Growth Group’s investment philosophy is sector-agnostic. It operates operating in different industries including energy, consumer, technology, business services, education, industrial, healthcare, real estate and media, making 80% of these investments in China or India.