Lorom Receives Investment from Cornell Capital
Taipei, Taiwan – 17 October 2019 – Lorom Holding Co., Ltd. (“Lorom” or the “Company”), a Taiwan-based manufacturer of cables and assemblies, today announced an investment from Cornell Capital LLC (“Cornell Capital”), a private investment firm with offices in New York and Hong Kong. Terms of the transaction were not disclosed.
Lorom is a leading manufacturer and developer of next generation interconnects and cable assembly related products to Fortune 500 companies across the automotive, medical, communications and industrial markets. A key driver of Lorom’s success is its vertically integrated approach to manufacturing, which benefits customers in terms of flexibility, cost, rapid prototyping and concept affirmation.
Cornell Capital focuses on investments in the consumer, industrial / business services and financial 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 Lorom. This 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.”
Thomas Yuan, Chairman of the Board and Chief Executive Officer of Lorom said, “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. 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.”
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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.
Formed in 1988 by a small group of engineers with a primary focus on developing new manufacturing techniques in cable and wire, Lorom has quickly grown into a globally recognised organisation renowned for its vertical integration capabilities and core company values.
Lorom are leaders in the manufacture of specialized cables the company also offer solutions in plastic injection, connector design & manufacture, die-casting & PCBA & the latest technologies in tooling and have an impressive global customer base consisting of a number of fortune 500 companies in the medical, automotive, industrial and media sectors.
Headquartered in Taipei (Taiwan) Lorom has manufacturing locations in Asia and India and is supported with a global network of customer service locations. For more information visit www.lorom.com