Gravic Group Formed an Alliance with GLPoly China, Advised by Armor Capital

Gravic Group, a France-based international industrial printing and die-cutting company with half a century’s history, recently formed a strategic alliance with GLPoly, a Shenzhen-based high-quality thermal interface materials (TIM) provider and manufacturer, as an effort to bring high-quality products and become a leader in the TIM industry. Armor Capital, a Hong Kong-based Mergers and Acquisitions (M&A) advisory firm, initiated and spearheaded this partnership.

With the help of this business collaboration, Gravic aims to become the most competitive and international TIM provider in Europe, while GLPoly strives to be the best TIM producer in China with top-class international standards. Both Gravic and GLPoly appreciate the guidance, coordination, and liaison endeavours Armor Capital made to set up the stage for this international cooperation.

?“We want to thank Armor Capital, who made this moment happen,” said Patrice Jacquemin, CEO of Gravic Group. “We have been very professionally advised in all steps and cannot wait to start a long and prosperous partnership.”?

The TIM industry has been growing steadily in the last decade. In 2021, the global TIM market was valued at USD$2.3 billion, estimated to reach USD$5.25 billion by 2030. TIM is mostly used to facilitate the?thermal?transfer, usually between a?heat-generating device and a?heat?sink. It is a crucial component in a multitude of electronic and energy storage devices. Therefore, the industry boom results from an increasing consumer dependence on electronic products such as tablets and smartphones and the advent of electric vehicles (EV), as TIM plays a vital role in the longevity of EV batteries by offering the solution for heat dissipation and thermal management.

“GLPoly has formed a preliminary layout of related products in the new energy vehicle market, especially in the fields of power batteries, motors, electronic control systems, energy storage, autonomous driving, and lidar millimetre-wave radar cameras,” said Kemmy Kang, Chairman of GLPoly. “We look forward to cooperating with Gravic to make concrete progress in the European new energy power battery market in the near future.”

In the past two years, cross-border trade and global supply chains have been disrupted by the Covid-19 outbreak, leading to supply bottlenecks and logistics gumming up. Facing the pandemic uncertainty, Gravic Group decided to expand its business landscape to China and approached Armor Capital for Chinese business know-how and cross-border strategic advice. “We are glad to have Gravic’s trust in Armor,” said Fabrice Govin, Partner of Armor Capital. “Not only coronavirus and its economic side-impacts, but also the Russia-Ukraine crisis are compounding the global logistics strain. Considering that, we embrace an agile approach to adjust this project’s scope in reference to the uncertain supply chain, inflation, and geopolitical shockwaves. The work was not easy, but we managed to accommodate our deliverables to Gravic’s involving objectives and transfer GLPoly’s thermal pad technology to Gravic Europe. Grounded on this alliance, Gravic now has the capacity to support more clients in China through GLPoly’s South China plant.”?

• About Gravic Group

Gravic Group is a recognized European leader with over 50 years of operation experience in technical printing and die-cutting services and trading supply thermal management products to key international actors in the automotive, electronics, industrial, and medical industries. Gravic has three production facilities which are located at Mouans-Sartoux (France), Debrecen (Hungary), and Monastir (Tunisia).

• About GLPoly

GLPoly is committed to becoming a leading enterprise in the field of thermal interface material. GLPoly serves a multitude of industries worldwide including automotive, computer, 5G telecommunications, consumer electronics, LED lighting, solar, military, and power conversion. As a professional TIM manufacturer, GLPoly focuses on a single purpose: discovering the need, then developing and delivering the advanced thermal solutions through devotion and innovation.

• About Armor Capital

Armor Capital has supported mid-cap business owners in capital financing, M&A advisory, and valuation since 2009. We are served by a core team of experienced professionals and a global network of expert sources. Our partners, Guillaume Caillet, Jean Giorgis, and Fabrice Govin, combine 60 years of experience in the US, Europe, and Asia-Pacific. Enhanced by practical knowledge and motivated by the success of our clients, our team has a commitment to ethics, integrity, and performance. We boast expertise in corporate finance, private equity, cross-border business development, and entrepreneurship.