Transworld Capital Group Advises ShoreView Industries Portfolio Company on China Acquisition
TCG Press Release
December 24, 2008
Los Angeles, CA, - Transworld Capital Group ("TCG") (www.transworldgroups.com), a financial advisory and consulting firm focused on cross border transactions between Greater China and the Western World , advised Protective Industries, LLC, a portfolio company of ShoreView Industries on its acquisition of Shanghai Jinding Plastic Products Co., Ltd. The acquisition enhances Protective Industries' growth and allows it easier access and faster turnaround time to customers manufacturing in China, and reduces its overall manufacturing costs.
Transworld Capital Group identified and contacted a number of candidates in China in order to qualify a short list of qualified targets for Protective Industries. After narrowing down the candidate list, Transworld Capital Group communicated the benefits of a transaction to Jinding's owner. In China, M&A transactions are not yet commonplace, and selling a business can be interpreted as a failure. Furthermore, Chinese companies are not accustomed to the level of due diligence typical in an M&A transaction. Transworld Capital Group bridged the difference of understanding between seller and buyer to build trust and find common ground.
Transworld Capital Group's founder and CEO, Jack Z. Chen said, "M&A transactions are not very common in China, but interest is growing. We are delighted that we were able to provide such a valuable service for ShoreView. We believe this acquisition is on the forefront of a wave of cross-border transactions between the Western World and China as economic interactions continue to grow beyond the traditional supplier relationship."
Robert L. Davis, Chairman of ShoreView Industries, added, "The assistance of Transworld Capital Group was invaluable in dealing with a seller who was unfamiliar with U.S. acquisition transactions."
About Protective Industries
Protective Industries is the leading designer, manufacturer and marketer of injection-molded plastic and vinyl protection products in North America. The company manufactures a full line of catalog and custom protective products that are used in a wide variety of industrial applications and include caps, plugs, edge liners and grommets, wrap-around tapes and discs, netting and tubing, which are marketed under the brand name Caplugs®.
About ShoreView Industries
Based in Minneapolis, ShoreView Industries manages $600 million in private equity funds. ShoreView invests this partnership in established, middle-market companies with operations in North America, across a wide range of industries. ShoreView structures a variety of acquisition, recapitalization and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million.
About Transworld Capital Group
Transworld Capital Group is a financial advisory and consulting firm specializing in cross border transactions between the Western World and Greater China, servicing clients both in the West and in China. The company advises both on M&A and capital-raising transactions as well as partnerships to help businesses access the Greater China market. The Company has offices in Los Angeles, Shanghai and Beijing. Its web address is www.transworldgroups.com.