Beijing Jingcheng Heavy Industry Co., Ltd. (“JCHI”) acquired Nagano Industry Co., Ltd. (“Nagano”) based on a Civil Rehabilitation plan which had been approved by a majority of creditors and authorized by the Nagano District Court on December 27, 2011. BDA acted as financial advisor to Nagano on its sale process and strategy with respect to international parties.
Established in 1968, Nagano is a major Japanese designer, manufacturer and distributor of construction machines sold under its own Nagano and Hanixbrands, as well as manufacturing for OEMs. Nagano’s main products include mini-excavators, aerial work platforms and crawler cranes. Nagano also designs and manufactures control equipment for construction machines. Nagano had filed for an application of commencement of Civil Rehabilitation procedures to the Court in May 2011.
JCHI is a subsidiary under Beijing Jingcheng Mechanical and Electrical Holding Company, an equipment manufacturing company established by Beijing Municipal Government and one of the 500 largest enterprises in China. It specializes in manufacturing, selling and exporting construction machineries, and maintains shareholdings in several companies in the construction machinery sector in China and overseas.
BDA Deal Team
Jeff Acton, Managing Director, Tokyo
Jeffrey Wang, Managing Director, Shanghai
Noriyuki Sonoda, Senior Advisor, Tokyo
Shan Yue, Assistant Director, Shanghai
Alicia Cao, Analyst, Shanghai
About Business Development Asia
Business Development Asia LLC (“BDA”) assists multinational corporate and financial sector clients to identify and execute acquisitions, divestments, JVs, restructuring and capital raising, in Asia and internationally. The company is headquartered in New York with offices in London, Bahrain, Mumbai, Hong Kong, Shanghai, Seoul, and Tokyo. BDA employs 60 full-time professional staff across its eight offices, supplemented by a team of senior advisors around the world. BDA’s clients include Areva, AXA Private Equity, Celestica, Clariant, Dai Nippon Ink and Chemicals, Ecolab, Hercules, Kennametal, Molex, Nalco, Pfizer, Rexel, Reuters, Ryder, SigmaKalon, Sun Chemical, Tredegar, WestLB, the Weir Group and the British Government. Further information on BDA is available at www.bdallc.com
For more information regarding this transaction, please contact please contact Jeff Acton in Tokyo on (81) 3 3433 5803 or Jeffrey Wang in Shanghai on (86) 21 5407 5580.