manufacturing
Ascendent supports buyout of HK-listed China Automation
Ascendent Capital Partners has teamed up with the chairman and founder of China Automation Group to invest HK$549.5 million ($70.8 million) in the Hong Kong-listed company, triggering a mandatory buyout offer.
India's PE-backed Varun Beverages files for IPO
Varun Beverages, a major drinks manufacturer and bottler for PepsiCo in South Asia backed by several PE investors, has filed for an IPO.
Deal focus: AGIC boosts Gimatic's global automation ambitions
Sino-European investor AGIC Capital has acquired Italy-based Gimatic with a view to boosting sales of the company's robotics components in Asia
VinaCapital leads $30m round for Vietnam's An Cuong
VinaCapital Investment Management has led a $30 million funding round for Vietnamese wood-working and decorative materials manufacturer An Cuong.
AGIC to buy Italian robotics manufacturer
China-Europe cross-border private equity firm AGIC Capital has acquired a large majority stake in Gimatic, an Italian robotics supplier planning an Asian expansion.
Navis acquires Macau-based ISA Industrial
Navis Capital Partners has agreed to acquire a controlling stake in Macau-based footwear component supplier ISA Industrial.
EQT exits Modern Metal to China's JD Capital
EQT Partners has exited Modern Metal & Precision, a Chinese aluminum die casting manufacturer, to China-based private equity firm JD Capital.
INCJ leads $10m round for Japan robotics start-up
Japanese robotics company 3D Media has received a JPY1.1 billion ($10 million) investment from Innovation Network Corporation of Japan (INCJ), Sparx Group and Mitsubishi UFJ Capital.
Deal focus: CITIC exits a bigger Tri-Wall
CITIC Capital Partners overcame strategic competition to buy a majority stake in Tri-Wall. After six years and significant financial and geographic expansion, it is exiting to a strategic player
Chinese manufacturer buys PE-owned Thermal Dynamics
China Zhejiang Yinlun Machinery, a Shenzhen-listed manufacturer of heat exchangers, has acquired US-based counterpart Thermal Dynamics International (TDL) for $56.65 million, facilitating a full exit to US private equity backer Evergreen Pacific Partners....
China's Fujian Grand Chip offers $751m for Aixtron
Fujian Grand Chip Investment Fund (FGC), an investment vehicle controlled by Chinese entrepreneur Zhendong Liu, has offered to buy German semiconductor equipment maker Aixtron for EUR670 million ($751 million).
CITIC Capital exits Tri-Wall to Japan's Rengo
CITIC Capital Partners has agreed to sell its majority stake in Tri-Wall Holdings, an Asia-focused heavy duty packaging business, to Japanese packaging manufacturer Rengo for $221.7 million.
Fund focus: UC Capital looks to play matchmaker
UC Capital's Lions Growth Fund will give European manufacturers access to the connections and the capital in Asia they cannot get on their own.
Temasek, Advent seek majority stake in Crompton Greaves unit
Temasek Holdings and Advent International have launched an open offer to acquire a controlling stake in Crompton Greaves Consumer Electricals (CGCEL), the former consumer products unit of India's Crompton Greaves, for up to INR16.9 billion ($253 million)....
UC Capital launches Euro-India fund
UC Capital, a joint venture between Urdaneta Capital and Capvent, has launched a fund that will invest in European companies and help them open up new growth channels through exposure to India.
ICICI Venture commits $18m to India's Anthea Aromatics
ICICI Venture has invested INR 1.2 billion ($18 million) in specialty chemicals maker Anthea Aromatics for what AVCJ understands to be a significant minority stake.
Deal focus: Navis to grow Texon outside the shoebox
After a major turnaround for Texon International, Navis aims to reinforce management's strengths and help the company reach the next level
IMM PE, Mirae agree to sell stake in Korea defense business
IMM Private Equity and Mirae Asset Private Equity are set to exit South Korea-based Doosan Defense Systems & Technology (DST) after Hanwha Techwin agreed to buy the business for KRW695 billion ($607 million).
Fairfax India invests $300m in Sanmar Chemicals
Fairfax Financial Holdings’ India unit has made a $300 million investment in Sanmar Chemicals, a major domestic producer of the plastic construction material PVC.
Shaw Kwei merges precision parts makers Beyonics and Chosen
Shaw Kwei & Partners has merged two Singapore-headquartered portfolio companies – Beyonics and Chosen – to form a leading Asian-based precision parts manufacturing group.
WestBridge commits $12m to India's Relaxo
WestBridge Capital Partners has invested INR790 million ($12 million) in listed Indian footwear maker Relaxo Footwears.
Navis invests in Hong Kong-based Texon - update
Navis Capital Partners has acquired Hong Kong-based footwear component manufacturer Texon International Group for $75-$125 million, AVCJ understands, buying a controlling stake held by Barclays Ventures.
KKR to exit Alliance Tire to Japan's Yokohama
Japanese tire manufacturer Yokohama Rubber has agreed to acquire India's KKR-backed Alliance Tire Group for $1.2 billion.
Baring, Glenwood to buy LafargeHolcim's Korea business
Baring Private Equity Asia has agreed to buy LafargeHolcim’s Korea-based cement business in a joint deal with local GP Glenwood Private Equity worth approximately KRW560 million ($482 million).