China Auto Parts and Accessories Capital Holding Ltd. Acquires Tempo Group's Ownership in Andus-Leuliette LLC Dr. Zhang Houqi (led China purchase of IBM PC business) Named Andus-Leuliette Chairman
DETROIT and HONG KONG, Aug. 31, 2011 /PRNewswire/ -- Andus-Leuliette LLC today announced China Auto Parts and Accessories Capital Holding Ltd. (CAPACH) has acquired Tempo Group's 50% ownership in the finance and management firm. Andus-Leuliette is a partnership with the investment banking firm FINNEA Group.
The partnership with CAPACH will allow Andus-Leuliette to further expand its presence with the Chinese government and both state- and privately held Chinese businesses.
The announcement was made jointly by Dr. Zhang Houqi, vice president of China state-owned enterprise China Auto Parts & Accessories Corporation (CAPAC) and chairman of China Auto Parts and Accessories Capital Holding Ltd. (CAPACH), and Timothy Leuliette, president and CEO of Andus-Leuliette and managing director of the FINNEA Group.
As part of this transaction, Andus-Leuliette has named Dr. Zhang Houqi chairman of the board. Dr. Zhang Houqi, among his many accomplishments, led the purchase of IBM's personal computer business by the Chinese based multi-national company Lenovo, which is now one of the most successful personal computer providers in the world.
"Andus-Leuliette has had a very successful relationship with the Tempo Group and it made great contributions to our company," said Leuliette. "Together we were able to expand our footprint and relationships with both state-owned and privately held Chinese companies. We welcome our new partner, CAPACH and appreciate the added relationships and China-based leadership and infrastructure they will provide our firm. We are also especially proud to have Dr. Zhang Houqi as part of our leadership team."
"Andus-Leuliette represents a unique platform to facilitate business relationships, transactions and trade between China and other countries," added Dr. Zhang Houqi, "The growth of the Chinese economy will require support from all nations and the cooperative efforts of the global industrial base. We are pleased CAPACH has the opportunity to be a partner in Andus-Leuliette and participate in that economic opportunity."
Andus-Leuliette LLC (Andus-Leuliette) is a broad-based financial and management firm that focuses on Chinese/Western based mergers and acquisitions, trading activities, restructuring and operating assignments, equity investment, leasing and real estate development. The firm has offices in Detroit, Chicago, Los Angeles, Beijing, Shanghai and Hong Kong, and has extensive relationships with public- and state-owned enterprises and trade groups. The firm specifically focuses on businesses that would benefit from access to the Chinese consumer/industrial market or would gain from access to Asian capital and equity markets.
About FINNEA Group
FINNEA Group, LLC ("FINNEA") is a boutique investment banking, financial advisory and merchant banking firm led by a team of seasoned financial and industry professionals. FINNEA, with offices in Detroit, Chicago and West Palm Beach, Florida, provides financial and management services in the areas of M&A advisory, capital solutions, financial and operational restructuring, private equity solutions and strategic advisory. For more information, go to www.finneagroup.com.
China Auto Parts and Accessories Capital Holding Ltd. (CAPACH), headquartered in Hong Kong, is a capital and equity holding company with leading position in the China auto parts industry. It focuses on equity transactions, restructuring and management in the global auto industry.
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SOURCE Andus-Leuliette LLC