Henry Cai swoops on Italian robot maker

AGIC Capital, a $1 billion private equity firm founded by veteran China banker Henry Cai, has agreed to buy a majority stake in an Italian robotic company for more than 100 million $113 million.

Joining the recent surge of Chinese investment in automation technology and looking to close its second European deal in less than six months, AGIC Capital said it is acquiring Gimatic, which makes robotic arms for handling plastic injection and moulded parts for auto industry suppliers.

We hope to replicate its success stories in Europe into China, Heiko von Dewitz, managing director of AGIC Capital, told FinanceAsia in a phone...