Bain Capital recently decided to acquire the equity of Chinese auto parts manufacturer ASIMCO Industrial Technology Co., Ltd. (hereinafter referred to as "ASIMCO") with a capital contribution of US $ 150 million.

According to sources, the transaction will acquire the entire equity of ASIMCO and assume $ 10 million in debt. The two parties to the transaction have reached an agreement in the past month, but still require the approval of the relevant regulatory authorities.

Bain Capital said it is very optimistic about ASIMCO's 16 years of business experience in China and its market positioning. "Due to the new emission standards, auto manufacturers will buy more parts to upgrade their products, and market trends give ASIMCO a very good prospect."

In November 2009, it was reported that ASIMCO will seek to sell for more than 200 million US dollars.

ASIMCO Industrial Technology Co., Ltd. Wall Street tycoon Jack Perkowski invested in an auto parts manufacturer established in Beijing 15 years ago, and is currently China's largest independent auto and heavy truck parts manufacturer. Heavy vehicles in 2009 Engine component sales reached 500 million US dollars, and this sales will increase in 2010.

ASIMCO ’s former holding consortium includes American International Group ’s (AIG) private equity department and financial services company Keycorp.

ASIMCO declined to comment.

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