31 October 2016

BDA advises CITIC Capital Partners on the sale of King Koil China to Advent International

Divested King Koil China to Advent International

2016

BDA Partners is pleased to announce that its client, CITIC Capital Partners, has completed the sale of its controlling stake in King Koil Shanghai Sleep System Co Ltd (“King Koil China”) to Advent International (“Advent”), one of the largest and most experienced global private equity investors. Terms of the transaction were not disclosed. BDA acted as exclusive financial advisor to CITIC Capital Partners.

Based in Shanghai, King Koil China is a manufacturer and retailer of premium mattresses and the exclusive licensee of several international mattress brands such as “King Koil”, “Aireloom”, and “Life Balance” in China. King Koil, a leading US brand founded in 1898, is one of the best-known premium mattress brands globally and is widely recognised by Chinese consumers. The company is also the leading supplier of premium sleep products to luxury hotels in China.

CITIC Capital Partners acquired King Koil China in June 2014. Since then, it has grown the business by expanding its retail footprint, strengthening brand recognition, streamlining operations and establishing alliances with leading retailers and shopping mall developers, using CITIC Capital’s resources.

Mark Webster, Managing Director, BDA Shanghai, said “We’re delighted to have helped CITIC Capital Partners successfully exit this investment and to have found such a strong new owner for King Koil. This transaction is a great example of BDA advising sophisticated financial sponsors on divesting Asian portfolio companies.”

Deal team

About CITIC Capital Partners

CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited, operates in China, the United States and Japan, and manages US$3.6 billion of committed capital on behalf of over 60 international investors. CITIC Capital Partners’ funds invest globally and work with management teams to help companies realize their full potential.

About Advent International

Advent International has invested in more than 315 private equity transactions in 40 countries, and has US$40 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 190 investment professionals across North America, Europe, Latin America and Asia.

About BDA

BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Dubai, Mumbai, Ho Chi Minh City, Singapore, Hong Kong, Shanghai, Seoul, and Tokyo. BDA was named M&A Advisory Firm of the Year at The ACG Champions Awards in 2015. BDA formed a partnership with William Blair & Company in 2011. bdapartdev.wpengine.com

BDA carries out its US securities business through BDA Advisors Inc, a broker-dealer registered with the US Securities and Exchange Commission (SEC) and a member of FINRA and SIPC. BDA’s UK subsidiary is authorised and regulated by the Financial Conduct Authority. BDA’s HK subsidiary is licensed and regulated by the Securities & Futures Commission.

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