Buyouts
Baring Asia to buy Lumenis from XIO for $1b
Baring Private Equity Asia has agreed to buy Lumenis, an Israel-headquartered medical devices manufacturer that counts Asia as its largest market, from XIO Group for a valuation of $1 billion.
PE & QSR: Selling pizza in Japan
From delightfully indulgent pizza toppings to delivery world records, Domino’s Japan has added a splash of color to the food and beverage space. It also served up robust private equity returns
New Frontier Group: Another kind of platform
Led by two former executives with The Blackstone Group in Asia, New Frontier Group has so far looked beyond traditional PE funding channels as it builds large-scale Chinese healthcare platforms
Allegro acquires Australasian furniture retail portfolio
Allegro Funds has agreed to acquire a portfolio of Australian and New Zealand furniture and household goods brands – including Best & Less, Harris Scarfe, Postie, and Debenhams Australia – from South Africa-based retail holding company Steinhoff International.
Advent buys Indian biopharma player
Advent International has agreed to acquire a controlling position in Bharat Serums and Vaccines, an Indian biopharmaceuticals supplier focused on the women’s health segment.
GPs see more cross-border M&A within Asia – AVCJ Forum
The Asian M&A market, typically characterized by cross-border deals with Western entities, is seeing more intra-regional activity, industry participants told the AVCJ Forum.
Investors cautiously optimistic on China buyouts - AVCJ Forum
The emergence of willing sellers, a pullback in competition from strategic investors, and greater availability of leveraged financing are contributing to more buyout deal flow in China.
LPs going direct 'not a front of mind issue' in Asia - AVCJ Forum
Large institutional investors pursuing direct deals on a solo basis represents a logical evolution of the private equity industry and shouldn’t necessarily be regarded as a threat, Asia-focused buyout managers told the AVCJ Forum.
China VCs get more selective - AVCJ Forum
Chinese venture capital firms are doubling down on areas in which they have domain expertise as the spectrum of opportunities widens, industry participants told the AVCJ Forum.
GPs see specialization as antidote to challenging market - AVCJ Forum
Investors at the AVCJ Forum offered optimistic outlooks for 2020 but said tighter deal markets would demand specialization in defensive sectors and a closer watch on valuations.
Unison agrees $526m Japan pharma carve-out
Unison Capital has agreed to buy Kyowa Pharmaceutical Industry, a Japanese subsidiary of India-headquartered drug manufacturer Lupin for an enterprise valuation of JPY57.4 billion ($526 million).
PAG, Centurium win firm of the year prizes at AVCJ Awards
PAG Asia Capital and Centurium Capital secured the two firm of the year prizes at the 2019 AVCJ Private Equity & Venture Capital Awards, while Renuka Ramnath of India’s Multiples Alternative Asset Management won the AVCJ Special Achievement Award.
CPE adds to Australian defense, aerospace assets
CPE Capital – formerly known as CHAMP Private Equity – has secured its second Australian defense sector deal in eight months with an agreement to buy Levett Engineering.
CDIB completes acquisition of Taiwan's Jintex
CDIB Capital has confirmed completion of its NT$1.9 billion ($61 million) acquisition of Taiwanese chemicals producer Jintex.
Quadrant wins board approval for buyout of Australia's QMS Media
Quadrant Private Equity has agreed to buy Australian outdoor advertising business QMS Media Group for an enterprise valuation of A$571.6 million ($392 million) through a scheme of arrangement.
Deal focus: Cornell picks Lorom for Asia debut
Cornell Capital, a US-based mid-market buyout firm, is starting to realize its Asian ambitions with an investment in Taiwan-based industrial supplier Lorom Holding. Bolt-on expansions appear likely
Japan's J-Star forms media platform with three acquisitions
Japanese private equity firm J-Star has acquired three local internet media companies with a view to bundling them into an acquisition platform for the sector.
Deal focus: Navis pursues durian farm modernization
Nearly $100 million has been earmarked for the development of upstream farming and downstream processing so that Chinese buyers can have faith in Malaysia's durian suppliers
Cornell Capital completes first Asian investment
US-based mid-market buyout firm Cornell Capital has made its first investment in Asia with a commitment to Taiwan-headquartered cable manufacturer Lorom Holding.
Foreign divestments drive China deal flow - M&A Forum
Divestments by multinationals are expected to remain a key theme in China M&A as companies consider whether they still want direct exposure to a market in which growth is slowing and the competitive environment is increasingly complex.
Australia's BGH completes cybersecurity roll-up
BGH Capital is looking to bring scale, capital and cross-selling opportunities to the still fragmented cybersecurity space in Australia and New Zealand
Philippines PE: Power dynamics
A virtually impenetrable middle market under the control of incumbent conglomerates is the least governable of the systemic obstacles facing private equity hopefuls in the Philippines
Korea's ACE Equity buys stake in semiconductor testing player
ACE Equity Partners, a Korean private equity firm that operates on a project fund basis, has agreed to invest KRW205 billion ($174 million) in local semiconductor testing specialist Tesna.
Navis buys Malaysian durian producer
Navis Capital Partners has acquired Malaysian durian products exporter Hernan Corporation with a view to leveraging strong demand for the fruit in China and in Chinese communities globally.
