Advising leading PE firm, CPE, on its investment into SML Group

DLA Piper has advised CPE, a leading private equity firm based in Greater China, on its investment in SML Group (SML), a global leader in Radio Frequency Identification (RFID) and brand identification solutions. CPE co-invested in SML alongside FountainVest, another private equity firm.

SML is a trusted supply chain and digital transformation partner to the world’s leading apparel and retail brands. It specialises in delivering innovative end-to-end solutions across RFID, Digital Product Passports, Factory Care Solutions, Digital IDs and Tags & Labels. Operating in more than 20 countries, SML helps clients to enhance inventory accuracy, operational efficiency, sustainability tracking, and consumer engagement through advanced digital technologies and its robust global manufacturing footprint. The company’s ongoing investment in R&D positions it as a leading innovator within the brand identification and digital intelligence ecosystem.

CPE is a leading Asia-based alternative asset manager with extensive China experience and approximately USD 22 billion in assets under management. Focused on long-term value creation and sustainable growth, CPE invests across technology and industrials, consumer and healthcare, and infrastructure. CPE's funds under management are supported by over 200 institutional investors worldwide and its core investment team has completed more than 300 global investments, leveraging deep sector expertise and an extensive international network.

The DLA Piper team was led by Corporate partner James Chang with support from of counsel Shuting Lu and consultant Hao Guo, all based in Beijing. Additional corporate law advice was provided by Roy Chan, senior partner and co-country managing partner for China, while Corporate partner Yang Ge managed the relationship with CPE. Intellectual property advice was provided by US Patent Litigation partner Shaobin Zhu, along with Beijing-based of counsel Asher Yan. Amanda Ge, also of counsel in Beijing, advised on data privacy aspects.

In Singapore, Nathan Bush, Litigation & Regulatory partner, advised on competition and regulatory issues, while David Smail, Head of Employment, provided employment law support.

From the Hong Kong office, Corporate partner Heng Loong Cheong, senior associate Tommy Lam, and associate Charmaine Li all provided additional corporate support. Tax advice was provided by partner Anderson Lam and senior associate Lilian Ip. Finance partner Trinh Hoang and senior associate Tracy Wong advised on banking aspects, while associate Melanie Yuen provided employment support.

Additional corporate support came from Stewart Wang, Head of Corporate at Shanghai Kaiman Law Firm, along with his team: consultant Zhiyuan Wu, and associates Sophia Sun and Jenny Wang.

James commented: “This deal underscores DLA Piper's strength in advising on large scale, complex private equity transactions involving multinational businesses. By leveraging our global network and cross-border capabilities, we were able to deliver seamless legal advice to CPE, working collaboratively across jurisdictions and with trusted co-counsels to support its international growth ambitions.”