PE Deal of the Year – Hyva
UNITAS CAPITAL’S BUYOUT OF DUTCH cylinder-maker Hyva earlier this year was a landmark private equity deal in that it was the first in Asia to be backed by a high-yield bond. Not only did the company’s $375 million bond issue set a precedent for other Asian investors to consider less traditional leverage options, but Unitas’ John Lewis, who led the deal, said it has provided Hyva with a “lot more flexibility” in terms of repayments than the typical Asian syndicated loan structure.
Unitas purchased Hyva from 3i Group as part of a secondary buyout in May. Unitas was the only bidder able to secure interim bank financing by the final deadline for the deal. "That was critical," says...
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