Fangda Partners advised LTW Capital on the acquisition of a 100% equity interest in Shanghai Dacromet Coating Industrial Co., Ltd. (“Shanghai Dacromet”), a wholly owned subsidiary of Zhejiang Wanfeng Auto Wheel Co., Ltd. (SZSE: 002085), a company listed on the Shenzhen Stock Exchange. The CNY 500 million acquisition was completed by a private equity fund managed by LTW Capital together with the management team of Shanghai Dacromet.

Established in 1995, Shanghai Dacromet has, through years of development, become a leading enterprise in the environmentally friendly chromium-free zinc-aluminum coating industry. Shanghai Dacromet and its subsidiaries offer more than 60 types of chromium-free zinc-aluminum coating services, primarily serving the automotive, new energy, rail transit, and aerospace sectors. The company is capable of meeting a wide range of surface treatment requirements for metal components from customers across various industries.

Fangda Partners acted as legal counsel to LTW Capital and provided comprehensive legal services throughout the transaction, including conducting legal due diligence; drafting, negotiating and revising transaction documents; and assisting with transaction closing. 

The transaction was led by corporate partners TAN Peng and WANG Mengjie. Team members included counsel CHEN Yanming and Sarah WANG, and associates Yee ZHANG, LI Taiyu, WU Siling, LI Yucheng, and HE Yumeng. Banking & Finance partner Rock WANG and associate Grace ZHANG also provided support on the transaction.