Agic Capital, the Chinese-European private equity fund launched last year, has bought a European industrial robotics business — in the latest example of the country’s push to gain access to western automation technology.
On Sunday, Agic said it had agreed to acquire Gimatic, an Italian supplier of robotic end-of-arm tools valued at between €100m and €150m. It did not disclose a specific price.
Agic was founded by former Deutsche Bank executive Henry Cai, a veteran dealmaker who started Agic with the goal of “shaping smart industries”, focusing on the so-called fourth industrial revolution, in automation and connectivity.
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