Fangda Partners represented LTW Capital in its CNY 1.1 billion acquisition of 100% equity of Wuxi Xiongwei Precision-Machinery Sci-Tech Co., Ltd. (“Xiongwei Precision-Machinery“), a wholly-owned subsidiary of SZSE-listed Zhejiang Wanfeng Auto Wheel Co., Ltd. (002085, “Wanfeng Auto“). The transaction was signed and completed in December 2023. Xiongwei Precision-Machinery, established in 2003 and headquartered in Wuxi, Jiangsu, has its production bases in Yancheng and Yizheng of Jiangsu province, Changchun of Jilin province and Langfang of Hebei province. The company specializes in the R&D, design, manufacturing and sale of high-quality metal stamping parts, advanced automation stamping dies and precision molds. The company provides precision components to numerous high-end global automotive OEMs for many of their Fortune Global 500 company clients.

Xiongwei Precision-Machinery’s management team jointly funded the transaction with two private equity funds managed by LTW Capital, all of which contributed CNY475 million investment, CNY425 million debt financing and CNY200 million repurchase or transfer of the remaining equity of Wanfeng Auto by future parties that will ultimately accomplish the total value of the management leveraged buyout at CNY1.1 billion.

Fangda Partners acted as LTW Capital’s legal counsel and provided “one-stop” comprehensive legal services, including conducting due diligence, negotiating and revising the transaction documents, and assisting in the transaction closing process. The Fangda team was led by partners Peng Tan and Mengjie Wang, and team members included Judy Li, Hao Zhong, Yijiu Wu, Dingling Fan, Allen Jia, Mengting Ma and Josie Zheng.