Seta Capital advised Tenova SpA in the sale of HTC

SETA CAPITAL ADVISED TENOVA SPA IN THE SALE OF HTC GROUP TO NINGBO QIJING HOLDINGS

On July 17, 2019, Tenova SpA announced that the company has sold 100% stake of HTC Group to Shanghai Qiqi Information Technology Co., Ltd., which was jointly established by Ningbo Qijing Holdings and Shanghai Oriental Securities Capital Investment Co., Ltd. In 2019, the annual revenue of HTC Group is expected to be approximately €100 million. In this transaction, Seta Capital, a cross-border M&A advisor, acts as the exclusive financial advisor to Tenova SpA. As a subsidiary of Tenova SpA, HTC group consists of four companies: IVA Schmetz (Germany), Mahler(Germany), Fours Industriels B.M.I. (France) and IVA Schmetz Furnaces (China). The group specializes on heat treatment of metal workpieces. Its revenue in 2019 is expected to be approximately €100 million. Currently, the demand for heat treatment in the aerospace industry is growing rapidly, and the demand in medicine and metal powder will also expand rapidly soon.

About Tenova:

Tenova SpA, a member of Techint group, provides innovative solutions for metals and mining with advanced technology, products and engineering services. The group is headquartered in Italy. Its parent company, Techint Group, is a world-famous industrial group. Techint Group was founded in 1945. It has six industrial groups, two of which are listed in the US and Europe. The Group’s industries span engineering, construction, steel, mining, oil and gas, industrial plants and healthcare. It has subsidiaries and plants in more than 35 countries and regions around the world. In 2019, Techint Group ranked 90th in the Fortune Global 500 Family Business, with an annual revenue of $18.5 billion.

About Qijing Holdings Co., Ltd.:

The buyer of this transaction is Shanghai Qiqi Information Technology Co., Ltd., which was jointly established by Ningbo Qijing Holdings Co., Ltd. and Shanghai Oriental Securities Capital Investment Co., Ltd. Ningbo Qijing Holdings Co., Ltd. is the parent company of Qijing Machinery Co., Ltd. (603677.SH). Qijing Machinery Co., Ltd. is a listed company specializing in mechanical product research and development and precision processing. Its product structure includes home appliance parts, power tool parts and auto parts. Its clients include Haier, Whirlpool, Samsung, Bosch, Panasonic, TCL, Hisense, Skyworth, Makita, Hilti and other high-quality premium customer groups. The company has become one of the largest manufacturers of fine machining workpieces in China.

For any information regarding the deal, please contact:

Tommaso tlazzari@seta-capital.com

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