Actis Exits a 70 Percent Stake in Vesta (Asia)
Source: Actis, Private Equity News | Author: Alec Macfarlane
Pan-emerging markets private equity firm Actis has sold its 70 percent stake in Vesta, a Chinese commercial kitchen equipment maker, to Illinois Tool Works, a U.S.-based developer and processor of engineered components, industrial systems and consumables. Vesta designs and makes Western style mid-range commercial kitchen equipment in China. Actis originally invested in May 2011; financial details of the transaction were not disclosed.