Nordic Capital acquires majority stake in Max-Inf, the China-based manufacturer of child restraint systems
Nordic Capital Fund VII (“Nordic Capital”) expands its holdings in the child safety market with an investment in Max-Inf, manufacturer of children’s car seats based in China. The transaction allows Britax and Max-Inf to further develop their relationship and accelerate growth in the key Asian markets.
Max-Inf is headquartered in Ningbo, China. In 2014 the company had revenues of approximately USD 73mn and over 700 employees. The company manufactures child restraint systems, some of which are exported and some marketed in China under its own brand Baby First.
“Max-Inf has been our exclusive distributor for Britax products in China for several years and has been instrumental in establishing Britax as the #1 brand for child restraint systems in China. We have increased our sales in China more than ten-fold since 2010 and are excited to continue this success story by having Britax and Max-Inf working side by side going forward”, said Paul Gustavsson, CEO of Britax Group.
The Founder of Max-Inf Mr Leo Xu Lihong retains a substantial interest in the business and continues to lead Max-Inf. “We are very excited to continue our strong relationship with Britax. With Nordic Capital as new shareholder Max-Inf will seek to make an even broader range of Britax products accessible to the Chinese consumer in the future and seek to further strengthen its export business”, said Leo Xu Lihong, CEO and founder of Max-Inf.
“We see a substantial share of global growth in child restraint systems for the coming years coming from the Chinese market, given an increasing awareness of child safety among consumers and a tightening of safety standards and regulation. Bringing Britax and Max-Inf under Nordic Capital ownership enhances the potential for the two Groups to best capture growth opportunities with their respective brands Britax and Baby First”, says Hans Eckerström, NC Advisory AB, advisor to the Nordic Capital Funds.
The companies will continue to operate at arm’s length distance. The acquisition is subject to customary regulatory approvals.
Max-Inf is a leading child car seat manufacturer in China, with more than 17 years of experience in designing and manufacturing its products. Max-Inf offers a full range of child car seats that meet various international standards, which are sold to nearly 70 countries and regions around the world. Max-Inf’s own brand Baby First is one of the fastest growing brands in China and Max-Inf has been the exclusive distributor for Britax products in China since 2010. For further information about Max-Inf, please visit www.max-inf.com
Britax is a global leader and innovator in child mobility dedicated to making family travel safer and easier throughout the journey of parenthood – enabling family freedom. Specialising in a complete range of premium car seats, strollers, baby carriers and accessories that meet modern family lifestyle needs, Britax’s mission is to inspire families to travel more freely, confident of safety, sure of style. Britax was founded in Britain in 1938 focusing initially on safety developments such as adult seat belts. In the 1960s they launched the company’s first child car seat. In 1978, it merged with established German car safety counterpart Römer. More recently, Britax acquired the hugely popular outdoor stroller brand BOB in 2011 and the BRIO pushchair and car safety business in 2013. Today Britax maintains offices in 12 countries, operates in almost all countries globally and employs more than 1,000 people. For further information about Britax, please visit www.britax.com
Source: Nordic Capital Press Release