A consortium of investors comprising Taiwanese buyout firm CDIB Capital Group, Beijing-based Firstred Capital, and Huatai International Private Equity Fund has acquired Chinese cosmetics packaging firm Yuga Group Holdings.
Established in 2003, Yuga is a supplier of cosmetics packaging products, offering customised packaging with in-house aluminum processing capabilities.
Headquartered in eastern China’s Suzhou City, the firm serves international cosmetics brands as well as some of the fastest-growing domestic players.
CDIB Capital made the investment through CDIB Buyout Partners, its dedicated buyout investment vehicle led by Alex Ying, an ex-Carlyle investment veteran who joined the firm in September 2019, according to his LinkedIn profile.
“As part of our value-add initiatives, CDIB Buyout Partners expects to promote the growth and margin expansion of Yuga Holdings by leveraging the consortium partners’ respective platforms, with deep roots both locally within China and globally, while bringing operational and strategic directives to deliver significant product and performance enhancement to an expanded customer base,” said Ying in a statement.
Lionel de Saint-Exupery, vice chairman of both CDIB Capital and its parent China Development Financial (CDF), said the deal is the first of many buyout transactions expected to be completed under CDIB Buyout Partners.
Taipei-based CDF, one of the largest financial holding groups in Greater China with about $125 billion in total assets, has offices in Hong Kong, Shanghai, Singapore, Bangkok, Jakarta, and New York. CDIB Capital told Bloomberg in February 2020 that it targeted leveraged take-private and buyout deals of about $200-500 million in size.