Unitas in $200m China deal

The Hong Kong-based firm has acquired a controlling stake in an industrial operation divested by China’s ZTE Corporation.

Unitas Capital has acquired a controlling stake in Shenzhen ZTE Netview Technology for RMB 1.3 billion (€151 million; $200 million), according to a company statement. 

The deal involved a divestment from ZTE Corporation, which is shedding non-core assets.

ZNV has two divisions. One supplies systems to monitor telecommunications radio base stations and internet data centres and another is the video surveillance unit, which supplies surveillance systems. 

Upon completion of the transaction, Unitas will become a majority shareholder and will work in partnership with ZNV’s management and ZTE Corporation.

“ZNV has a market-leading position in China and is well-positioned for further growth,” said Jim Tsao, Partner of Unitas Capital, in the statement. 

“This transaction also demonstrates strongly our ability to move quickly and efficiently, with full funding in place, to be able to close deals with industrial as well as branded consumer and retail groups who are considering divesting their non-core operations.”

Unitas Capital has $4 billion in assets under management. In June last year, Unitas invested $162 million in NEPA, an outdoor apparel and equipment producer in Korea and in February the firm acquired the Chinese restaurant chain Babela Foods Group from the Carlyle Group for $40 million.