Hong Kong, June 17, 2021 – Hong Kong-based advanced manufacturing and material science leader CNI Group announced today that its major subsidiary Maxford Group (“Maxford”) has taken significant minority investment from Bain Capital, with CNI remaining the controlling shareholder of Maxford.
Maxford is a leading surface treatment and material processing company with multiple processing facilities across Asia, serving global clients primarily in consumer electronics and consumer product segments.
“Bain Capital’s endorsement is a recognition of the efforts and commitment of the management and staffs, especially from a prominent global private equity fund who understand both our industry and the region well,” said HS Chong, Chairman of Chungnam Group.
“Maxford is a global leader in surface treatment and materials processing. We are particularly impressed by its technology leadership and state-of-the-art manufacturing capabilities,” said Jonathan Zhu, Managing Director and Co-head of Private Equity Asia at Bain Capital. “We look forward to partnering with shareholders and management team to build on Maxford’s leadership position and support the company in realizing its strong vision for the future.”
“Maxford will benefit from Bain Capital’s global network and industry knowledge,” adds Bob Chong, Chairman of CNI Group. “Their contribution will make a difference for Maxford’s future growth strategy.”
About CNI Group
CNI Group is an advanced manufacturing and material science company with headquarters in Hong Kong, offering innovative technical and supply chain solutions to major industries. Products and services provided include metal processing & precision stamping, metal injection molding, touch panels, glass and polymer composite processing, and surface treatment covering both decorative and functional purposes. Other ventures include new energy vehicles, IC packaging equipment and in-vitro cell culture solutions. CNI is founded and owned by HS Chong, Bob Chong and Charles Chong, and part of the wider Chungnam Group, founded in 1935.
About Bain Capital
Bain Capital is one of the world’s leading private multi-asset alternative investment firms with approximately $130 billion in assets under management that creates lasting impact for our investors, teams, businesses and the communities in which we live. Founded in 1984, we pioneered a consulting-based approach to private equity investing, partnering closely with management teams to offer the insights that challenge conventional thinking, build great businesses and improve operations. Over time, we have organically expanded this approach across asset classes to build one of the strongest alternative asset platforms in the world.
Today, our teams strive to create value through private equity, public equity, fixed income, credit, venture capital and real estate investments across multiple sectors, industries, and geographies. We believe that our people and the shared values we’ve espoused since our founding remain the core of our competitive advantage. This has empowered us to deliver an enduring impact to a diverse group of investors including pensions, endowments, foundations and individuals.