Arsenal Capital Partners, a New York private equity firm that invests in industrial, healthcare and financial services businesses, said Wednesday it opened an office in Shanghai.
Steve Li, a former senior executive with Arch Chemicals, was hired by Arsenal to help it establish its first full-time presence in China. At Arch Chemicals, Li oversaw their offices and personnel in China.
Arsenal is no stranger to China, though. The private equity firm's portfolio companies, China-based subsidiaries and joint ventures have been involved with setting up lower cost manufacturing facilities in that nation.
"By leveraging that experience and broadening our resources with a local presence in China, we will further assist our portfolio companies in capitalizing on the ongoing globalization of economies and the increasing importance of China and Asia," Arsenal managing director Jeffrey Kovach said in a company statement.
Some of Arsenal's portfolio companies include Innovative Medical Device Sourcing, Sermatech International, and Source Refrigeration & HVAC.
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