H&QAP in China private equity deal

The firm spends $45 million on a 43.3% stake in Yuchai Engineering.

HQ Asia Pacific HQAP, a private equity and venture capital firm, announced Wednesday that it has paid around $45 million for 43.3% of Yuchai Engineering Machinery, a mid-sized company specialising in small excavators based in ChinaÆs Guangxi province.

ôThe construction boom in China makes excavators good business, and Yuchai Engineering is the market leader within China in the small excavator sector. We are confident that past growth rates of more than...

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