HONG KONG, Feb 25, 2021 – FountainVest Partners, a leading private equity firm in Asia, entered into a binding agreement to acquire the controlling stake in CJ Rokin (“Rokin”) from Rokin’s Korea-based parent, CJ Logistics.
This transaction is subject to customary closing conditions, including merger clearance by the relevant authorities in PRC. Rokin’s founding family and management team will retain their existing shares after the transaction.
China’s cold chain and third-party contract logistics markets have demonstrated consistent and robust growth. As a leading integrated contract logistics company in China, Rokin enjoys competitive advantages especially in food cold chain, medical cold chain, and chemicals logistics industries. Rokin has built a nationwide network of warehouses and transportation coverage, providing high quality logistics services to multinational and top Chinese corporate customers. Despite the impact of the COVID-19 epidemic, Rokin continued to generate sustainable growth and profitability.
Following the transaction, FountainVest Partners will leverage its resources in consumer & retail, healthcare, and chemical industries to assist Rokin in expanding customer base. Furthermore, FountainVest Partners will bring expertise to the company in talent acquisition, operations improvement, and best practices in corporate management.
About CJ Rokin
Rokin started business in 1985 and was officially established in 1997 by Mr Zhang Yurong and Mr Zhang Yuqing. Headquartered in Shanghai, Rokin is one of China’s leading third-party contract logistics companies with core capabilities in cold chain, chemicals logistics and general cargo. Rokin provides customers with an integrated supply chain solution that covers transportation and warehousing nationwide, with ~5,000 employees, ~740,000 square meters of warehouse area, and access to 60,000+ vehicles. In 2015, Rokin was acquired by CJ Logistics and private equity firm STIC, who collectively owned a controlling stake following the acquisition.
About FountainVest Partners
FountainVest Partners is one of the most established independent private equity firms in Asia. The firm focuses on long-term investments in industry leaders, partnering closely with management teams to accelerate growth and create value in strategy, operations, finance, and capital markets. Sectors of focus include consumer, media & technology, healthcare, industrials, and financial services. FountainVest manages assets on behalf of world leading public pensions, sovereign wealth funds, and other institutional investors. FountainVest’s landmark investments include Amer Sports, Pure Fitness, LOSCAM, Key Safety System (KSS), BMTS Technology, Kehua Bio-Engineering, Chang An Hospital, and Aidi Eye Hospital.