Shearman & Sterling advised CITIC Capital China Partners III, L.P., a buyout fund managed by the private equity arm of CITIC Capital Holdings Limited, on a co-investment with 3i Group plc to acquire Formel D from Deutsche Beteiligungs AG.
CITIC Capital’s private equity arm, CITIC Capital Partners, leverages its extensive resources to help companies realize their full potential in Asia, and has completed over 50 investments in the past years in China, Japan, the US and Australia. The firm currently manages US$4.8 billion of committed capital. The investment in Formel D is their first deal in Germany.
CITIC Capital Holdings Limited is an alternative investment management and advisory company and manages over US$20 billion of capital in core businesses including Private Equity, Real Estate, Structured Investment & Finance, and Asset Management. CITIC Capital currently employs over 250 staff members throughout its offices in Hong Kong, Shanghai, Beijing, Shenzhen, Tokyo and New York.
Formel D is a global service provider to the automotive and component supply industry. The company develops concepts and scalable solutions for quality assurance and process optimization along the entire automotive value. Headquartered in Troisdorf near Cologne, the company was founded in 1993 and has over 7,000 employees at 80 locations in 19 countries worldwide.
The Shearman & Sterling team included partners Thomas König (Frankfurt-Mergers & Acquisitions) and Esther Jansen (Frankfurt-Finance); counsel Anders Kraft (Frankfurt-Tax) and Mathias Stöcker (Frankfurt-Antitrust); and associates Aliresa Fatemi, Philipp Jaspers and Marc Lorenz (all Frankfurt-Mergers & Acquisitions), as well as Maria Iorno (Frankfurt-Finance).