SHANGHAI – May 15, 2013 – Advent International, the global private equity firm, today announced that it has appointed Michael Ming-Yue Zhu, Country General Manager of Solvay China, to its Operating Partner Program. Mr. Zhu will advise Advent on investment opportunities in the chemicals sector, one of the firm’s core sectors. Advent has also appointed William Tsao, who worked at DuPont for more than 35 years, as an industry advisor in the chemicals sector in China.

Mr. Zhu is a highly respected executive in the Chinese chemicals sector and has over 30 years of industry and government experience. He has recently assumed the position as China Country General Manager of Solvay following its merger with Rhodia, where he has worked since 1994. During his tenure at Rhodia, he has been a driving force behind the company’s growth, including building 12 new factories and acquiring six local Chinese firms. Prior to Rhodia, Mr. Zhu was head of ICI’s Shanghai representative office and was instrumental in setting up three joint ventures for ICI in China.

In the 1980s, Mr. Zhu worked at two government organizations, the Economic Commission of the P.R.C. and the Chemical Industry Bureau of Wuxi, Jiangsu province. He also plays an active role in industry associations and is a Vice Chairman of AICM (Association of International Chemical Manufacturers) and Vice Chairman of ECFIC (Executive Committee of Foreign Investment Corporations).

This is the first appointment made to Advent’s Operating Partner Program in China, following the opening of its Shanghai office in April. Advent’s Operating Partner Program is a long-established and successful element of the firm’s highly operational approach to investing. The Program includes over 60 senior industry executives, a number of whom have been involved in multiple Advent investments. These executives typically assist in activities such as identifying attractive investment opportunities, conducting due diligence and creating and driving value creation plans for Advent’s portfolio companies.

William Tsao, during his long tenure at DuPont, held leadership roles in various disciplines and business units in Taiwan, Singapore, Bangkok and Shanghai. In his last position with the company, he headed up DuPont’s entire Performance Coating business in China.

Filippo de Vecchi, Advent Managing Director and Co-head of Greater China, said: “We are delighted to partner with Mr. Zhu and Mr. Tsao, who bring valuable industry experience and local expertise to Advent globally and to our portfolio companies. The chemicals sector is a core area of focus for Advent in China. We are committed to helping our portfolio companies in this sector achieve expansion and long-term sustainable performance.”

Commenting on his new role, Michael Zhu said: “Advent‘s sector-focused approach and partnership culture is well regarded. It has a proven track record of successfully helping portfolio companies grow and succeed, and I am excited to be part of such a distinguished institution. I look forward to working closely with the Advent team to identify opportunities in leading Chinese companies and help the firm’s global portfolio companies expand in this market.”

Advent has been active in the chemicals industry for more than 25 years and has invested in over 30 companies in the sector globally. The firm has developed a strong track record in carving out these businesses from multinational corporations and enabling them to become successful independent companies. Advent’s recent investments in the chemicals sector include Cytec, H.C. Starck, Maxam, Mondo Minerals, Oxea and Vinnolit.