Latest News
Cedarlake Capital Closes Acquisition of Swiss Ropeway Manufacturer BMF Group
Monday 13 November 2017

13 November 2017 - China-focused investment management firm Cedarlake Capital has completed the acquisition of controlling equity stake of Swiss ropeway manufacturer BMF Group AG, the firm said.

The transaction, with definitive agreement signed in September, is made through one of the managed private equity funds by Cedarlake and marks the third acquisition since its establishment in 2016.

Founded in 1962, BMF Group AG is in the fields of ropeway systems and amusement park facilities as well as mechanical engineering.

With over 50 years of proven track record in planning, designing and realization of complex projects globally, BMF has built up a product portfolio, including aerial tramways, detachable gondola and chair lifts, and offers its uniquely designed and engineered solutions to customers in various sectors such as urban/mountain transportation, winter sports facilities, ski resorts and amusement/leisure parks.

In recent years, BMF has achieved a rapid expansion beyond its home market and installed its signature product at locations and tourism destinations, spanning from mountain/ski resorts in Alps to the city landmark in Paris, from passenger trains at Niagara Fall in North America to the world's tallest Ferris Wheel in the Middle East.

The acquisition of BMF advances Cedarlake's commitment to bringing advanced manufacturing to China, but also highlights its recent strategic move into consumer and tourism industry of the world's second largest economy.

BMF already formed a strategic partnership with Beijing North Vehicle Group Corp., a Norinco Group company, one of China's largest said-owned companies in this field.

Under this partnership, Cedarlake and BMF would join hands with BNVG to establish solid business presence in China's ropeway market, and aim to achieve further penetration into other Belt and Road Initiative countries, following the China's global initiative launched in 2013 which connects 4.5bn people and 40% of World's GDP.

Cedarlake Capital is an investment management firm with strategic focus on China-related and cross-border investments and aspires to create synergies and alliance among global major industries, economies and capital markets.

The firm was founded by Yi Bao, a top deal maker with more than 20 years of experience and track record in investment banking and private equity investments and former chief executive officer of Morgan Stanley Huaxin Securities, Morgan Stanley's securities platform in China.
Date Published: 13/11/2017
Target: BMF Group AG
Country: Switzerland
Sector: Machinery/Engineering
Type: LBO
Status: Closed
Buyer: Cedarlake Capital
Terms of the deal were not disclosed