A new materials industry fund co-managed by QFAT Investment Management ("QFAT") and Integrity Capital Partners ("ICP") has completed its purchase of a controlling shareholding of COTESA. Post-investment, Advanced Technology & Materials Co., Ltd ("AT&M"), anchor investor of the Fund, will assist COTESA in expanding its production and sales operations to the China market through leveraging its existing network and industrial leadership in China. Additionally, the expanded financial resources from the new shareholders will enable faster growth of existing business with European and American aircraft manufacturers.
Mr Joerg Huesken, CEO of COTESA, commented: "Over the last 16 years COTESA has grown from an unknown start-up company to a well-respected manufacturer of high performance fibre-reinforced structures, especially in the aerospace industry. Together with our shareholders we will gain access to the important Chinese market with its new aircraft programs, as well as expanding business with our current customers Airbus and Boeing".
Mr Jinhua Zhang, Chairman of the Board of QFAT remarked: "We believe that carbon fibre composite material, which plays an important role in the light-weighting trend, is finding more and more applications across multiple industries and has a large potential market, especially in China. COTESA has already made significant achievements in the aerospace and automotive areas through years of growth led by its founders. Post-investment, the shareholders will expand COTESA's existing business areas and develop COTESA's potential Chinese market, as well as enhancing COTESA's global competitiveness".
Ms Sarah Li, Managing Partner of ICP, added: "COTESA is a company that we have been tracking for several years. We identified the business as offering carbon fibre solutions highly relevant to the China market so we are delighted to finally partner together in order to drive COTESA's Chinese expansion".