Consumer
Blue Sky pumps $2m into Australian skincare firm
Blue Sky Alternative Investments has invested $2 million in Milk & Co, the Australian skincare company founded by Olympic swimmer Michael Klim.
Navis exits Indonesia education business to Pearson
Navis Capital Partners has exited the Indonesian arm of English-language education business Wall Street Institute (WSI) to Pearson. The global publishing and education company is paying $16.3 million for the asset, which represents a 10x return for Navis.
Billabong opens its books to TPG, says buyout offer too low
Billabong International's board has agreed to let TPG Capital conduct due diligence on the company, although it maintains that the private equity firm’s A$694 million ($712 million) buyout offer is too low in the context of a control transaction. TPG’s...
Carlyle mulls Coates Hire IPO
The Carlyle Group, together with Australia's Seven Group, is considering an IPO of Australian equipment rental company Coates Hire. The news comes weeks after banks agreed to refinance the company’s A$1.85 billion ($1.9 billion) in debt.
VCs back Indian taxi firm BookMyCab
Mumbai Angels and YourNest Angel Fund, two Indian investment firms focused on early stage investments, have backed a Series A round for taxi start-up BookMyCab.
TPG confirms acquisition of China’s HCP
TPG Capital has acquired Chinese packaging company HCP Holdings from its family owners. Sources close to the development told AVCJ the deal is worth around $500 million.
Archer Growth invests in Best Friends Pet Supercentre
Archer Capital Growth Funds, the Australian GP’s lower mid-market unit, has set up a partnership with Best Friends Pet Supercentre and plans to expand the chain to 44 outlets. The company currently operates 11 supercenters that sell pet products and...
A Capital bets on B&O’s China growth story
Just three months ago, 87-year-old Danish electronics manufacturer Bang & Olufsen (B&O) announced worse-than-expected third quarter results: revenue was down 7% year-on-year while pre-tax profit fell by 37%. The company blamed poor sales in Europe and...
TPG resumes Billabong pursuit with $712m buyout offer
TPG Capital has renewed its interest in Billabong International, tabling a A$694 million ($712 million) takeover bid for the Australian surfwear manufacturer. The offer is A$147 million lower than the private equity firm’s previous bid for Billabong,...
Navis sells Nirula's to Indian trade buyer
Malaysia-based private equity firm Navis Capital Partners has sold its 100% stake in Indian restaurant chain Nirula's Corner House to hotel and real estate group A2Z Excursions.
TLG Capital bets on Myanmar cruise company
UK private equity firm TLG Capital is reportedly planning to establish a company that will operate cruises in Myanmar, investing via its holding in Compagnie Fluviale du Mekong, one of Cambodia's oldest river cruise businesses.
A Capital backs Bang & Olufsen for China growth
A Capital has teamed up with Chinese luxury goods distributor Sparkle Roll to pay $30 million for a 7.71% stake in Denmark's Bang & Olufsen (B&O). The electronics manufacturer is looking to increase sales in China to offset weak demand in Europe and the...
Carlyle sees value in mid-market hotels
Marriott to Hilton to Shangri-La, international hotel brands are buys expanding their footprints in China. Among the country’s 600 five-star hotels, more than 500 are still under construction, and average occupancy rates are barely 60%, the lowest in...
Warburg Pincus in China car hire play
Two months ago, China Auto Rental was preparing to list on NASDAQ. The car hire provider set a target of $138 million for what would be only the second IPO by a Chinese company in the US this year. The experiences of the first did not bode well: VC-backed...
Potential PE target Ingham Chicken goes on the block
Ingham Enterprises, Australia’s largest poultry producer, has put itself up for sale, alerting potential private equity bidders. Sole shareholder Bob Ingham he had decided to exit “after long and careful consideration.” Investec has been appointed...
TPG buys China packaging firm HCP for $600m - report
TPG Capital has reportedly acquired Chinese packaging company HCP Holdings for around $600 million through a leveraged buyout. The news comes after an earlier attempt by Morgan Stanley's Asia private equity arm to purchase 80% of the company for around...
Fidelity, Qualcomm lead Series C round for Bigshoebazaar
Fidelity Growth Partners and Qualcomm Ventures have led a Series C round of funding worth INR1 billion (US$18 million) for Indian online wholesaler Bigshoebazaar. Existing investors Nexus Venture Partners and Catamaran Ventures also participated.
Warburg Pincus commits $200m to China Auto Rental
Warburg Pincus has invested $200 million in China Auto Rental, said to be the country’s largest car rental network in terms of revenue. It is the largest equity financing the industry has seen since Legend Holdings made a RMB1 billion strategic investment...
Standard Chartered PE takes Smoothies Korea overseas
Standard Chartered Private Equity (SCPE) has completed its fourth transaction in partnership with South Korea’s National Pension Service (NPS), making a $46 million investment in nutritional beverage brand Smoothies Korea. The company will use the capital...
MBK beaten by Lotte in $1.1b Hi-Mart take-private
MBK Partners has officially been beaten to the punch in its attempt to privatize Hi-Mart, as Lotte Shopping signed a deal to acquire the South Korean electronics retailer for KRW1.25 trillion ($1.1 billion).
VC-backed Yatra bolts on Travelguru
Yatra, the Indian digital travel services operator backed by VC firms including Norwest Venture Partners (NVP), has acquired Travelguru, a hotel distribution network owned by online travel agency Travelocity.
TPG partner brought in to help turn around Li Ning
TPG Capital's Jin-goon Kim has been named executive vice-chairman of Li Ning as the private equity firm tries to stabilize the struggling Chinese sports retailer. The appointment comes as Li Ning searches for a replacement for CEO Zhiyong Zhang, who has...
Baring increases stake in Chinese retailer Magic Holdings
Baring Private Equity Asia has increased its stake in Magic Holdings, a Hong Kong-listed skincare brand. The PE firm bought 50 million shares - approximately 5% of Magic Holdings' total issued share capital - at HK$2.9 apiece for a total consideration...
Carlyle takes controlling stake in China hotel operator
The Carlyle Group has acquired a controlling stake of 49% in Mandarin Hotel Holdings, which manages a mid-market hotel chain in China under the Crystal Orange Hotel and Orange Hotel brands. The private equity firm sees the investment as a means of tapping...