Month: November 2021

November 16, 2021, Hong Kong – The Centurium Capital-led privatization of leading plasma-based biopharmaceutical company China Biologic Products Holdings Inc. (“China Biologic” or the “Company”) was awarded “Deal of the Year – Large Cap” by Asia Venture Capital Journal (AVCJ) at its annual award ceremony on November 15 in Hong Kong.

A buyer consortium led by Centurium Capital first announced its indicative proposal to privatize the Nasdaq-listed China Biologic (Nasdaq: CBPO) on September 18, 2019. On November 19, 2020, the two sides had reached an agreement for the consortium to purchase the outstanding shares not already owned by the consortium members at US$120 per share, implying a valuation of US$4.76 billion for the Company. The consortium members also included CITIC Capital, Hillhouse Capital, Temasek and the management team. The privatization transaction was closed on April 20, 2021.

Zhixing Chen, Managing Director of Centurium Capital, commented, “It was a long journey for us to close the China Biologic transaction, which is one of the largest privatization deals in China’s healthcare space in recent years. I want to take this opportunity to thank our investors, our team and friends who supported us along the way. Going forward, we will continue to work closely with the management team at China Biologic and bring the Company to the next level.”

Centurium Capital first invested in China Biologic in August 2018. Founded in 2002, China Biologic Products is a leading fully integrated plasma-based biopharmaceutical company in China. The Company’s products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. China Biologic is headquartered in Beijing and manufactures over 20 different dosage forms of plasma products.

China Biologic is also engaged in the sale of medical devices, primarily regenerative medical biomaterial products. The Company sells its products to hospitals, distributors and other healthcare facilities in China.

AVCJ has been the leading source of information on private equity and venture capital activities in Asia since its establishment in 1987. AVCJ presents annual awards across categories recognizing excellence in fundraising, investment, exits, responsible investment, and value creation.

Centurium Capital is a leading private equity investment firm in China and primarily focuses on investing in China’s consumer, business services and healthcare sectors. As a transformational capital provider with a focus on business model innovation and resolving structural deficiencies to unlock growth potential, Centurium pursues a hands-on and operations-centric investment approach to drive value creation and generate long term shareholder value.

November 10, 2021, Beijing, China – Meican (the “Company”), a leading Chinese SaaS-based group catering technology company, announced today that it has completed E-round financing of US$100 million invested by Centurium Capital, a leading private equity investment management firm in China. The financing is expected to enhance Meican’s capabilities and investments in product research and development, global customer acquisition, supply chain diversification, and human resources development.

Founded in 2011, Meican is China’s largest group catering solutions provider. The Company offers comprehensive catering solutions to corporate clients and their employees, including both on-premise and off-premise catering and SaaS solutions. It also offers SaaS solutions to traditional group dining players, including digital ordering, integrated payment processing, catering operation, corporate fee control, as well as reporting & analytics.

The Company’s clients include Bytedance, Alibaba, SF Express, China CITIC Bank, Pacific Insurance, SASAC, Peking University People’s Hospital and China Southwest Aviation University, and numerous others. Through its SaaS technology and innovative solutions, Meican has transformed and modernized the traditional group catering industry.

Statistics show that the group catering market in China exceeded RMB1.5 trillion in 2020, serving 670 million customers while growing at over 15 percent annually. However, the Chinese group catering industry is still very fragmented, with a CR10 (market share of top 10 players) of less than five percent in China, which is in sharp contrast with a CR10 of 60 to 80 percent in developed markets such as the United States, Europe, Japan and South Korea. This demonstrates huge growth and consolidation potential.

Xiao Zhao, Co-founder and CEO of Meican, commented, “Thanks to increasing penetration of digitalization and demand for a better group catering experience, the industry is going through a profound transformation. We will continue to invest in the diversification and digitalization of our supply chain to further upgrade the overall industry infrastructure and solidify our market-leading position. With synergies from our core advantages in SaaS solutions and unique product offering, we are confident that Meican will accelerate its growth and expansion to further tap into the trillion-yuan group catering market.”

Gary Liu, Managing Director of Centurium Capital, commented, “Serving two huge markets of business services and catering, Meican has built a very unique business model and developed innovative solutions through years of hard work. We believe there is still a huge unmet demand from corporate clients and their employees for modern, standardized and diversified group catering services. Meican has grown significantly over the past several years, connected a large number of traditional catering service providers, and accumulated deep industry expertise. We are pleased to partner with Meican to support the Company’s expansion and help them to continue to upgrade their product and service offerings.”

Today, Meican’s products and services cover nearly 100 cities across China, including Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Nanjing, Hangzhou, Suzhou, Wuhan, and serve thousands of corporate customers and merchant partners.

Centurium Capital is a leading private equity investment firm in China and primarily focuses on investing in China’s consumer, business services and healthcare sectors. As a transformational capital provider with a focus on business model innovation and resolving structural deficiencies to unlock growth potential, Centurium pursues a hands-on and operations-centric investment approach to drive value creation and generate long term shareholder value.