Fong’s Industries has acquired Monforts Group from L. Possehl & Co. mbH
Fong’s Industries Co., Ltd., the Hong Kong-listed manufacturer of machinery for the textile industry acquired Possehl’s textile finishing systems, which are summarized in the Monforts Group, a leading supplier of textile finishing machines based in Mönchengladbach, Germany.
Fong’s Industries Co., Ltd. is a leading specialist in the design, manufacture and sale of machinery and accessories for yarn and textile fabric dyeing and finishing based in Hong Kong. The company has approximately 3,800 employees and generated revenues of approximately Euro 220 million in 2011. Fong’s Industries Co., Ltd. is listed on the Hong Kong Stock Exchange and is majority owned by China Hengtian Group Co. Ltd., a Chinese state-owned enterprise with approximately 50,000 employees.
L. Possehl & Co. mbH is an industrial holding company based in Lübeck, Germany, with subsidiaries engaged in a variety of industrial businesses including textile finishing systems (Monforts Group), which it acquired in 2006. In 2011, the company generated revenues of approximately Euro 2.5 billion.
The Monforts Group is a leading supplier of textile finishing machines for technical and clothing fabrics. The Group has approximately 180 employees and generated revenues of approximately Euro 100 million in 2011.
Lincoln International was mandated by Fong’s Industries Co., Ltd. to act as its financial advisor on the buy side. Despite the complexity of a cross-border deal, Lincoln International managed a very efficient transaction process leading to a successful completion after four months.
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