FountainVest acquires stake in LK Technology

China-focused private equity fund FountainVest acquires a minority interest in LK Technology, a China-based die casting manufacturer, for an outlay of up to $92.5 million.

FountainVest will invest up to HK$720 million $92.5 million in China-based LK Technology, the world’s largest manufacturer of die casting machines.

FountainVest is a private equity fund which raised around $1 billion in 2008. It focuses on investments in China and has offices in Shanghai and Hong Kong.

The investment in LK Technology fits squarely within FountainVest’s stated deal parameters. The financial sponsor, which FinanceAsia met soon after the fund closed in November 2008, seeks to identify mid-market capitalisation firms that are privately owned and aspire to become champions in their business segment. LK Technology, which is listed on the Hong Kong stock exchange, has a China market...

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