Buyout Firms FountainVest, CPE Invest in Hong Kong’s SML Group

Private equity firms FountainVest Partners and CPE are investing in RFID and brand identification firm SML Group Ltd.

The move will help SML to expand its geographic reach and customer base, as well as support innovation and digital integration, the Hong Kong-based company said in a statement Monday, without disclosing financial terms.

Bloomberg News reported in September that FountainVest and CPE were nearing an agreement to buy SML in a deal that could value it at over $600 million.

SML makes labels, price tickets and hangtags, as well as zippers and buttons for fashion brands and retailers using radio frequency ...