今日VC

STIC Investments – South Korea’s premier private equity firm that specializes in mid-market private equity and special situation transactions led an investment with MC Capital (an investment subsidiary of Mitsubishi Corporation) of US$30 million into “Yeong Guan Energy Technology Group (YGET).” YGET is the world’s top 4 and China’s 2nd largest casting components supplier to the wind power generator industry. YGET was founded in 1971 and operates manufacturing facilities in Taiwan and throughout China (Ningbo, Nanjing and Dongguan).

Document1“With over 30 years of casting experience, YGET strategically allocates its dynamic casting product mix to injection molding, steam turbines and now wind generators to enhance greater competitiveness. Thus, YGET is much less vulnerable to the changing markets in which we operate today,” said Kevin Lim, STIC’s chief executive officer. “Developments in the wind power industry are just beginning across Asia, compared to the European and US markets. I’m sure we will see Asia accelerate and leap frog ahead of the developed markets in the coming years.”

Richard Yang, STIC’s Head of Greater China, added that “the company will soon achieve one-stop services for both on its suppliers and its customers, and YGET is still actively expanding its total production capacity to new highs.” The company has built a solid relationship with the top 3 wind turbine manufacturers in the world which account for over 50% global market share. Other clients of YGET for gas turbine and injection molding industries are also global leaders from U.S., Europe and Japan. “We were impressed by the dedication of its management team and what they have achieved thus far. And now, we join forces with STIC Investments and YGET management to take the company to the next level globally,” remarked Peter Chen, Head of Greater China for MC Capital.

“Despite the global economic downturn, many private equity investors expressed interest in YGET. We were looking for partners who not only had money but more importantly shared our vision, and STIC and Mitsubishi fit that profile! STIC was there from the very beginning with a sincere attitude. Korea has advanced expertise not only in the wind power sector but also in auto, gas and shipping industries,” said Hsien-Ming Chang, chairman of YGET. “We have tried very hard during the past year to enter the Korean market, but it’s difficult without the right Korean partner. I am confident that STIC can strategically help us to get that extra know-how and introduce additional customers to YGET, and the same goes for Mitsubishi in the Japanese market.”

STIC led the investment with US$20 million while MC Capital filled the balance. The proceeds will be used to fund YGET’s machinery expansion along with the new manufacturing facility in LiYang City and other long-term development projects across China.

With the global need to reduce greenhouse gas emissions and strong government support globally for alternative forms of energy (especially noted by U.S. President Barack Obama in his “green” policy address), STIC believes our investment in YGET will not only play a vital role in the improvement of our environment but also serves as a long-term investment for our next generation.

About Yeong Guan Energy Technology Group

Yeong Guan Energy Technology Group (YGET ) was founded in 1971 and built its business based on the core competence of casting technique. With over 30 years of casting experience, YGET operates facilities situated in Taiwan, Ningbo, Nanjing and Dongguan. YGET is the world’s top 4 and China’s 2nd largest casting components supplier to the wind power generator industry. The Group also maintains a diversified products mix from its solid market position in the injection machinery market to actively developing clients in the gas and steam turbines markets.

About STIC Investments Inc.

STIC Investments is South Korea’s premier private equity firm that specializes in mid-market private equity and special situation transactions. The firm was founded in 1999 under the auspices of the Korean government and now operates independently with US$1.3 billion of assets under management for limited partners globally. STIC has more than 35 dedicated investment professionals situated across regional offices in Seoul, Busan, Hong Kong, Shanghai, Taipei, Vietnam and Silicon Valley.

STIC is the first and largest investment group to manage Shariah compliant funds among its Korean peers. Each STIC fund has a discrete management team with skills and networks matched to the particular investment strategy. We strive to convert our commitment and value creation into shareholders return with our vision and integrity that has driven our success since inception. STIC is distinguished from other Korean private equity funds by its track record, blue chip investor base, government relationships and reputation for high integrity and transparency. To date, the firm has invested in more than 283 portfolio companies and has successfully achieved 149 trade sales and 53 IPOs (as at February 2009). For more information, please visit our website www.sticinvestments.com

About MC Capital

MC Capital is a private equity arm of Mitsubishi Corporation (“MC”) in the Asia Pacific Region. MC Capital and the affiliated operate in and from the offices in Tokyo, Taipei, and Shanghai aim to secure high investment returns by utilizing Mitsubishi Corporation’s far-reaching strengths as a sogo shosha (general trading company) to raise the corporate value of its business investments and are committed to support entrepreneurs utilizing the extensive networks and resources of Mitsubishi Corporation and its affiliates around the world. MC Capital manages MC’s corporate fund and MC Capital Asia Pacific Private Equity Fund to provide growth capital to emerging enterprises in the Asia Pacific region. Over the past decade, MC Capital has invested in more than 85 portfolio companies and has successfully achieved 26 IPOs (as of April 2009).