Clearwater International advises BWI on investment from a consortium led by Walden International

Clearwater International has advised BWI, BeijingWest Industries Co., Ltd. (BWI Group), a leading chassis supplier for the global automotive market, on investment from a consortium led by Walden International, a leading firm focused on cross-border venture investments.

BWI Group is a premier chassis supplier that designs and manufactures brake and suspension systems for the global automotive market. In 2009, BWI Group, along with its global subsidiaries, acquired what was formerly the Chassis Division of Delphi Corporation. BWI Group is a joint venture between Shougang Corporation and Beijing Fangshan State-Owned Asset Management Co. Ltd.

The consortium, consisting of Walden International, Beijing Innovation Industry Investment and Hongxin Capital, and the shareholders of BWI Group, have agreed on an equity financing of €315 million towards BWI Shanghai, a newly restructured business built around its automotive electronic control capabilities. After the transaction, BWI Shanghai will transform from a wholly-state-owned entity to a diversified one with 48% shares owned by BWI Group and 52% owned by the consortium.

The transaction will help BWI Shanghai to strengthen its focus on advanced braking systems and other autonomous driving enabling technologies and to capture market share of autonomous driving and NEVs in the future.