EQT Greater China II sells PSM International

  • EQT Greater China II has sold its entire stake in PSM International, a multinational fastener manufacturer to Bulten AB, a full-service provider of fasteners solutions to the international automotive industry
  • PSM has continued to strengthen its manufacturing capabilities, improve efficiency and expand sales and supplier networks during EQT’s ownership

The EQT Greater China II fund (“EQT Greater China” or “EQT”) today announced that it has signed an agreement to sell its entire stake in PSM International (“PSM” or “the Company”), a multinational leading fastener manufacturer, to Bulten AB (“Bulten”), a full-service provider of fasteners solutions to the international automotive industry.

Established in 1931, PSM International is a leading provider of fastening solutions to a diverse customer base in the automotive, notebook, mobile phone and general manufacturing industries. The business has a strong presence in the Asia-Pacific, Europe and US markets. With manufacturing facilities in China, Taiwan and the UK, PSM's products include a complete range of inserts for plastics, as well as multiple fastening solutions for sheet metal. PSM works with customers throughout the product life cycle, from design conception through product launch and general production.

EQT invested into PSM in 2007 and during EQT’s holding period, the corporate governance and management have been strengthened with the addition of key management hires and experienced board members. PSM has leveraged EQT’s network and expertise in the industrial sector to support the Company in further developing its manufacturing capabilities, sales channels and supplier networks.

Martin Mok, Partner at EQT Partners and Investment Advisor to EQT Greater China, commented: “During EQT Greater China’s ownership, PSM has continued to strengthen its cold-forming capabilities, upgrade production facilities, improve efficiency and expand sales and supplier networks. We are grateful for the insightful contribution of the board members and the management team's relentless pursuit of excellence and business development. We are convinced that PSM will continue its growth path with Bulten as their new partner”

The transaction was signed on 20 December 2019.

Contact
Martin Mok, Partner at EQT Partners and Investment Advisor to EQT Greater China II, +852 2801 6823
EQT Press Office, [email protected], +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com

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About PSM International
Established in 1931, PSM International is a leading provider of fastening solutions to a diverse customer base in the automotive, notebook, mobile phone and general manufacturing industries. The business has a strong presence in the Asia-Pacific, Europe and US markets. With manufacturing facilities in China, Taiwan and the UK, PSM's products include a complete range of inserts for plastics, as well as multiple fastening solutions for sheet metal. PSM works with customers throughout the product life cycle, from design conception through product launch and general production. 

About Bulten AB
Bulten AB (publ) is one of the leading suppliers of fasteners to the international automotive industry. The company’s product range includes everything from customer-specific standard products to customized special fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. Bulten offers a Full Service Provider concept or parts thereof. The company was founded in 1873, has some 1,400 employees in eight countries and head office in Gothenburg. The share (BULTEN) is listed on Nasdaq Stockholm. Read more at www.bulten.com