Affinity completes largest China cleantech buyout

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    Affinity Equity Partners has completed China's largest ever private equity buyout involving a single overseas fund with its purchase of 92.7% of the…

    Affinity Equity Partners has completed China's largest ever private equity buyout involving a single overseas fund with its purchase of 92.7% of the shares of Beijing Leader & Harvest Electric Technologies, a supplier of medium-voltage variable frequency drive (VFD) technology, for US$200 million.

    VFD technology is used to improve the efficiency of electric motors in energy-intensive industries, such as power generation, mining and chemicals and is likely to be in demand as China shifts its focus to clean technology for its future industrial development.

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