A shift in dynamics in the technical textile industry
Beaulieu International Group (B.I.G.) has sold one of its major Chinese subsidiaries, Beaulieu Technical Textiles (Weihai) Co. Limited (Beaulieu Weihai), to Yangzhou HaiZhong Fabric Co., Ltd. (Yangzhou Haizhong).
Beaulieu Weihai manufactures and markets woven technical textiles, focusing on carpet backing, artificial grass backing and agro-textile products. These are sold both overseas and at home. Beaulieu Weihai is one of the best-known brands in this segment and is highly regarded within the industry due to the high quality of its products.
During an extremely challenging period due to COVID restrictions, and with several pre-closing complications, Oaklins still managed to steer the transaction to a successful end. I am very impressed with their professionalism and flexibility. It has been a real pleasure working with them.TOM CHEN, HEAD OF STRATEGY FOR ASIA REGION, BEAULIEU INTERNATIONAL GROUP
Oaklins played a key role in facilitating this deal
Oaklins’ team in Shanghai assisted B.I.G. in completing this divestiture through a global bidding process, and led vendor due diligence, buyer identification and valuation guidance, as well as different stages of the negotiations and closing. Oaklins’ teams in other countries also assisted the transaction by identifying potential buyers.
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