Carlyle Group Invests in Chinese Lab Equipment Firm
A publicly held Chinese multinational company, Haier’s primary business is home appliances and electronics. HBML’s customers include pharmacies, research labs, blood banks and corporations, according to Carlyle. This is another investment by a private equity firm involving lab equipment, following Kohlberg Kravis Roberts & Co.’s purchase of Panasonic Healthcare last year (see IBO 10/15/13).
Beijing, China 4/29/14—Global alternative-asset manager the Carlyle Group has agreed to acquire a 30% stake in Haier Bio-Medical and Laboratory (HBML) for CNY 405 million ($65 million = CNY 6.23 = $1) through its Carlyle Beijing Partners Fund. A subsidiary of Haier, HBML develops and manufactures biomedical and lab equipment for the Chinese and global markets, including ultralow-temperature freezers, medical refrigerators, biosafety hoods and storage-safety solutions. “Through the investment in HBML, we expect to work closely with Haier Group, the company’s management team and other investors to support the company’s new business and global expansion by leveraging our global network and deep expertise in the health care industry,” stated Janine Feng, managing director of Carlyle.
