Cordenka is the world’s leading producer of industrial rayon. Rayon is a fibre derived from cellulose and used as a heat-resistant reinforcement material in high-performance tires. Cordenka supplies tire manufacturers serving premium car brands. Cordenka has 650 employees and is headquartered in Obernburg, Germany.

Mr Karl Hammer, CEO of Cordenka, commented:

“Cordenka is a long established Mittelstand manufacturing company with a strong market position in Europe. We are very pleased to welcome BMC as our new shareholder and partner to help us develop our business in China. This is an important moment for Cordenka and we see significant growth and value creation opportunities together.”

Dr Xinya Vivian Wang and Mr Sebastian Grigg, Partners at BMC, said:

“BMC is a new private equity fund specifically established to acquire exceptional European businesses like Cordenka with growth opportunities in China. Together with Mr Karl Hammer and his team, we have developed an action plan to support Cordenka through our network and access in Shanghai. We look forward to developing our partnership over the coming years.”

Mr. Gu Jianzhong, Vice President of Shanghai International Group (SIG), said, "BMC is a brand new cross-border M & A fund established by SIG earlier this year. We are very pleased to see that the professional teams in Shanghai and London have achieved their first cross-border investment within only six months after their establishment.

The investment has positive significance for promoting supply-side reforms and promoting consumption upgrades. Goldman Sachs Bank and Barings Global provided syndicated loans in Europe, and ABC International participated in co-investment in Hong Kong. "

The transaction was supported by KPMG and GOERG.