(Reuters) – The Catalyst CEL Fund said on Thursday it had agreed to invest $42 million in Lamina Technologies, a Swiss-based maker of metal-cutting tools.
The fund said it would invest $10 million of new capital into Lamina, which was founded in Israel, to fuel global expansion and up to $32 million will be distributed to the company’s existing shareholders.
As a result, Catalyst CEL will take on a controlling stake in Lamina in partnership with the firm’s current management team, it said. Co-founder and Chief Executive Peleg Amir will remain in his post.
“We see significant opportunities for expansion into the China market,” said Edouard Cukierman, managing partner of Catalyst CEL, noting that Lamina already has a strong presence in Europe, North and South America and Asia-Pacific.
Catalyst CEL is a joint venture between China Everbright Ltd and Israel’s Catalyst Equity Management. The fund has raised more than $100 million and aims to reach as much as $300 million to invest in Israel-focused companies.Get your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.