Buyouts
Bain seeks delisting of Chindata within three years of listing
Bain Capital has submitted a USD 2.9bn take-private bid for Chindata Group, a largely China-focused data centre operator that it assembled through a buy-and-build and took public in October 2020.
Japan's J-Star buys freight forwarding company
Japan’s J-Star has acquired local freight forwarding business Japan Trust Holdings for an undisclosed sum as part of a transportation services consolidation play.
Bain boosts take-private offer for Australia's Estia
Bain Capital has increased its take-private offer for Australia-listed aged care provider Estia Health – to a point where the business is valued at about AUD 826.8m (USD 550m) – after an earlier bid was rejected.
Japan buyouts: Bucking the trend
Japan remains a private equity hotspot despite muted buyout activity elsewhere in Asia. Take-private and sponsor-to-sponsor opportunities make for a more textured local market
DCP agrees carve-out of Cargill's China poultry unit
DCP Capital has agreed to buy the China-based poultry business of US-headquartered food and agriculture corporation Cargill for an undisclosed sum.
Australia’s Real Pet Food taps investors for equity injection
Hosen Capital, New Hope Group, and Temasek Holdings have led a AUD 248m (USD 161.2m) equity injection into Australia-based chilled pet food supplier Real Pet Food to pay down debt and support growth.
Dymon backs take-private of Singapore’s Challenger Technologies
Dymon Asia Private Equity has launched a SGD 224m (USD 180m) take-private bid for Challenger Technologies in conjunction with the Singapore-listed electronics retailer's CEO.
Energy transition: An emerging speciality
Kerogen Capital is trying to plot a more nuanced course into energy transition than building renewables. It is one of a growing number of nascent specialists in the space.
Deal focus: Investcorp finds optimal entry point with Jianuo
Investcorp negotiated its debut China control deal in the shadow of COVID-19 but expects to see long-term gains through the target company’s exposure to electric vehicles and renewable energy
Deal focus: PrimeMovers buys Malaysia machinist in debut deal
PrimeMovers, which spun out from Platinum Equity last year, and UK-based Lingotto Investment Management have jointly acquired Malaysian precision manufacturing company EngTek
Potentia withdraws from talks to buy Australia-listed Tyro
Australia-based specialist B2B technology investor Potentia Capital has withdrawn from talks to acquire listed payments software provider Tyro Payments – marking the second time attempts to reach an agreement have failed.
Blackstone buys jewellery certification business, China's Fosun exits
The Blackstone Group has paid USD 569.7m for 100% of Belgium-headquartered jewellery certification business International Gemological Institute (IGI), taking out investors including China’s Fosun Group.
Bain buys Japan software player IDAJ
Bain Capital has acquired IDAJ, a Japan-based engineering solutions provider that provides digital platforms to facilitate project development and computer-based design simulation systems.
TPG re-engages with improved offer for Australia's Invocare
TPG Capital has been granted due diligence access to Invocare, a listed Australian provider of funeral services and operator of memorial parks and crematoria, after making an improved offer that values the business at approximately AUD 2.2bn (USD 1.5bn).
Investcorp completes debut China control deal
Investcorp has acquired a controlling stake in China’s Shandong Jianuo Electronics, a components supplier for the electric vehicle (EV) and renewable energy industries, for an undisclosed sum.
Macquarie Capital acquires majority stake in India’s CloudExtel
Macquarie Capital, the investment arm of Australia’s Macquarie Group, has acquired a 51% stake in Indian digital connectivity technology provider CloudExtel for about USD 100m.
KKR takes out Rakuten's stake in Japanese retailer Seiyu
KKR has increased its stake in Japanese supermarket operator Seiyu to 85%, having taken out a position held by local e-commerce giant Rakuten, which supported the private equity firm’s carve-out in 2020.
Blackstone falls short in bid to delist India's R Systems
The Blackstone Group has failed to delist Indian IT provider R Systems due to insufficient interest from public shareholders six months after agreeing on a majority acquisition.
Actis launches $500m Japan renewables platform
Actis has formed a USD 500m Japan renewables platform and acquired Hergo Japan Energy Corporation, which has around 230 megawatts in operating and development projects, as the seed asset.
CLSA exits Japan parking lot operator to Advantage
CLSA Capital Partners (CLSA CP) has agreed to sell Japanese coin-operated parking lot business Ecolocity to Advantage Partners for an undisclosed sum.
Q&A: ShawKwei & Partners’ Kyle Shaw
Kyle Shaw, founder and managing partner of ShawKwei & Partners, on bright spots in industrial manufacturing and becoming more Southeast Asia-centric as supply chains reduce China exposure
Dymon backs take-private of Singapore’s Penguin International
Dymon Asia Private Equity has teamed up with the executive chairman of Penguin International on a take-private bid that values the Singapore-listed shipbuilder at SGD 29.2m (USD 22m).
China: Who’s investing?
Private equity investment in China remains in the doldrums yet local investors claim to see green shoots. Where, when, and how they engage with the market is likely to differ from previous cycles
Quadria acquires Malaysia’s Straits Orthopaedics
Singapore-headquartered healthcare specialist Quadria Capital has acquired a majority stake in Malaysian contract devices manufacturer Straits Orthopaedics at an enterprise value of USD 240m.
