EQT Greater China Exits From Modern Metal & & Precision

EQT Greater China has sold its 30% interest in Chinese aluminum die casting manufacturer Modern Metal & Precision Holdings Ltd. to JD Capital, completing an exit from an investment it made six years ago.

In an announcement, EQT says the company’s founders also sold a 49% stake to JD Capital in the same deal.

Financial details were not disclosed.

Geadquartered in Hong Kong with manufacturing facilities in Dongguan and Wuzhou, Modern Metal is a high-pressure aluminum die-casting maker serving the automotive, climate control, industrial automation and telecommunication industries.

EQT Greater China II invested in Modern Metal in December 2010 for an undisclosed amount.

Since then, it has helped the company strengthen its corporate governance and strategic planning, marketing strategies, and efficiency enhancement.

Modern Metal reported top line growth of 15% per year from the financial year of 2010 to Sep 2015, says the announcement.