7 March 2023
SEAVI Advent Private Equity today announced that its sixth fund, SEAVI Advent Equity VI has fully divested its remaining stake in Yuanhang Precision Alloy.
Founded in 1994, the Company engages in the research and development, production, and sale of precision nickel-based conductor materials. The Company is the largest nickel strip producer in the People’s Republic of China (“China”) and its products are known for its quality, performance and value. A major focus of the Company is in research and development. This has resulted in a total of 63 authorised patents, including nine (9) authorised invention patents, which has benefited the Company’s product mix.
The Company’s other product, precision nickel-based conductors, is mainly used to transmit power for batteries or battery packs and are often seen in secondary battery products such as lithium-ion batteries, lithium polymer batteries and nickel-metal hydride battery. It is also used as a base metal for the manufacture of various commemorative coins. Terminal applications for the Company’s precision nickel-based conductors mainly include high-end consumer electronic products like smartphones and tablet computers as well as EV battery energy storage systems etc.
SEAVI Advent Private Equity first invested in the Company in 2017. Since the initial investment, the Company has grown into an industry leader in nickel strips production and a leader in nickel alloy production.
Kevin CHAN, Managing Partner of SEAVI Advent, said: “We are pleased to have worked with the management team of Yuanhang and helped reach numerous milestones together such as the Company’s delisting from the NEEQ Board and subsequent relisting on the Beijing Stock Exchange. Even though we are divesting from the Company, we believe the Company is now positioned to move to even greater heights and further excel in its business.”
The sale raised proceeds in excess of S$15mil for SEAVI Advent Private Equity.
About SEAVI Advent Private Equity
SEAVI Advent Private Equity, the independent Asian associate of Boston based private equity firm Advent International Corporation, is one of the first private equity and venture capital firms to operate in the Asia Pacific region. Since 1984, the firm has invested over US$600 million into more than 120 Asian companies, from growth to late stage, as well as buyout and control transactions. With a proven track record that includes ranking fourth on Preqin’s Top 10 performance funds for the vintage 2003/04, SEAVI Advent has been instrumental in delivering value to many of its portfolio companies, and has developed an extensive record of successful investments, which include Universal Health International Group (2211.HK), Hainan Shuangcheng Pharmaceutical Co. Ltd (002693.SZ), and Clarity Medical Group (1406.HK) in the healthcare sector; Weimob Inc. (2013.HK), Huitongda Network (9878.HK), and Sinofriends in the TMT sector; Tsaker New Energy (1986.HK), and Pengyao Group (300664.SZ) in the new energy & advanced manufacturing sector.
In recent years, SEAVI Advent has strengthened its emphasis on B2B technology and the SaaS sector as it believes that China’s digital transformation of enterprises is gathering pace and showing immense growth potential in the world’s second largest economy.