Capricorn Venture Partners announces Punch Powertrain sale agreement
March 11, 2016
Along with other shareholders, Capricorn Venture Partners has agreed to sell Punch Powertrain to the Chinese Yinyi group in a transaction that gives the company an enterprise value of about €1 billion. Upon closing of the agreement, the Capricorn Cleantech Fund will receive a multiple of 17x its original investment and realize a gross IRR of roughly 60%. Punch Powertrain develops and produces continuously variable transmissions for cars.