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Announced

Completed

Source Code Capital and Starnach Capital led a $460m Series C round in Zhongneng.

Financials

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Transaction Value£332m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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China

Equipment Rental

Minority

Completed

Private

Friendly

equipment leasing

Domestic

Single Bidder

Acquisition

Venture Capital

Private Equity

Synopsis

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Source Code Capital and Starnach Capital led a $460m Series C round in Zhongneng, a domestic one-stop engineering equipment leasing platform, with participation from Shanghai North High-tech, Yimei Capital, Fuyu Venture Capital, Ruixiang Capital and Yibo Finance. "Zhongneng United is a leader in the field of industrial Internet and a representative enterprise of intelligent construction machinery industry. After continuous innovation and iteration, the company reconstructed the new ecology of the leasing industry," Cao Yi, Source Code Capital Founding Partner.

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