NEW YORK and TAIPEI, Taiwan, Oct. 17, 2019 /PRNewswire/ -- Cornell Capital LLC ("Cornell Capital" or the "Firm"), a private investment firm, today announced an investment in Lorom Holding Co., Ltd. ("Lorom" or the "Company"), a leading manufacturing solutions provider focusing on specialized cable manufacturing and assembly. Terms of the transaction were not disclosed.
Founded in 1988 by a small group of engineers with a focus on research and development, Lorom has grown to approximately 6,000 employees, including more than 500 highly skilled engineers across six factories and six sales offices globally. In addition to its core cable technologies, Lorom also offers plastic injection, stamping, die-casting, printed circuit board assembly and tooling processes, and possesses customized component design and manufacturing capabilities. Lorom's vertically integrated model enables the Company to provide a one-stop shopping platform for unique, proprietary manufacturing products and services to a blue-chip customer base, including Fortune 500 companies across the automotive, industrial, media, technology and medical sectors. The Company is headquartered in Taipei, Taiwan.
With offices in New York and Hong Kong, Cornell Capital focuses on investments in the consumer, industrial / business services and financial services sectors, often with a cross-border angle. Cornell Capital's investment in Lorom leverages decades of investing and operational experience in the region, often with founder-led businesses like the Company. The investment is consistent with Cornell Capital's strategy of partnering with strong management teams to further build businesses and unlock growth potential internationally.
"In today's technology-intensive product marketplace, supplier partners like Lorom are uniquely positioned with vertically integrated capabilities and long-term customer relationships to meet the increasing demand for specialty products," said Henry Cornell, Founder and Senior Partner of Cornell Capital. "We are impressed by Lorom's founding family and management team and are confident that we can continue to execute our Firm's successful partnership-oriented investment approach in the Asian market. Working closely with the Lorom team, we look forward to accelerating the Company's financial performance and capitalizing on opportunities to drive continued growth across Asia, Europe and North America."
"With a distinguished track record and nearly 50 years of combined on-the-ground experience in Asia, Cornell Capital's deep industry expertise makes them an ideal partner for Lorom as we enter this next chapter in our company's history," said Thomas Yuan, Chairman of the Board and Chief Executive Officer of Lorom. "With Cornell Capital's support, I am confident we can build upon our platform as the leading, preferred business partner providing the highest quality cable technologies, while staying true to our culture of entrepreneurial innovation and best-in-class customer service."
Lorom will continue to be led by Mr. Yuan, as well as its current management team.
About Lorom
Founded in 1988, Lorom is a leading manufacturing solutions provider focusing on specialized cable manufacturing and assembly. In addition to its core cable technologies, Lorom also offers plastic injection, stamping, die-casting, printed circuit board assembly and tooling processes, and also possesses customized component design and manufacturing capabilities. Its vertically integrated model enables Lorom to provide a one-stop shopping platform for unique, proprietary manufacturing products and services to a blue-chip customer base, including a number of Fortune 500 companies across the automotive, industrial, media, technology and medical sectors. Headquartered in Taipei, Taiwan, Lorom has approximately 6,000 employees, including more than 500 highly skilled engineers across six factories and six sales offices globally. For more information, visit www.lorom.com.
About Cornell Capital
Cornell Capital LLC is a private investment firm that takes a value-driven approach to investing. Partnering with strong and entrepreneurial management teams, the firm seeks opportunities in market- leading businesses across the consumer, financial and industrial/business services sectors. Founder and Senior Partner Henry Cornell, who served as the Vice Chairman of Goldman Sachs' Merchant Banking Division prior to founding Cornell Capital in 2013, leads a highly seasoned senior leadership team with decades of shared investing experience. The firm currently manages over $3.1 billion of assets and has offices in New York and Hong Kong. For more information, visit www.cornellcapllc.com.
Media Contact
Lorom:
Ged Riley
Ged.riley@loromeurope.com
www.lorom.com
Cornell Capital:
Jonathan Keehner / Julie Oakes / Tim Ragones
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
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SOURCE Cornell Capital LLC