CITIC Capital Makes Strategic Exit From Japanese Packaging Firm Tri-Wall

CITIC Capital Partners Ltd. has agreed to sell all of the 67.1% stake of Japanese heavy-duty packaging material firm Tri-Wall Holdings Ltd. to a Japanese corporate buyer, according to an announcement.

Financial details of the deal were not disclosed. The sale is expected to be completed in October.

Since investing in Tri-Wall for an undisclosed amoutn in 2010, CITIC Capital has helped the company expand its global presence and enhanced its customer base in China and other Asian regions.

"We believe…both companies will benefit from tremendous synergies and will certainly enhance their value further and advance to the next level," says Hironobu Nakano, head of Japan operations and senior managing director at CITIC Capital.

Rengo is headquartered in Osaka and is a paperboard and packaging company.

This marks the fifth exit for CITIC Capital’s Japan funds, and the seventh exit for its international funds, which focus on buyouts of middle-market companies wishing to accelerate their expansion outside of their home markets, particularly in China and other Asian countries.

Previously, CITIC Capital exited from Japanese portfolio companies Pokka Corporation, Higashiyama Film, Shinwa International and Narumi.

It’s international funds have exited from Lincoln Industrial, MW Industries, RAE Systems, Henniges Automotive, Stackpole International and Deltatech Controls.