Buyouts
Acquisition finance: Familiar territory?
Once regarded warily by banks due to the lack of security in providing offshore financing against onshore assets, Asia buyouts that rely on offshore holdco structures are increasingly sought after.
CITIC Capital, Crestview buy machinery supplier Stackpole
CITIC Capital Partners has teamed up with New York-based Crestview Partners to buy Stackpole International, a North American machinery supplier, from Sterling Group and Current Capital. The transaction value was not disclosed but it is reportedly $512...
Stepstone completes Greenpark deal
StepStone Group has merged with secondaries specialist Greenpark Capital. The widely-anticipated transaction has been confirmed, but a spokesperson declined to give more information on how it was structured, citing confidentiality requirements.
Apax buys VC-backed IT developer GlobalLogic
Apax Partners is to acquire a majority stake in outsourced software product developer GlobalLogic (GL) in an all secondary deal. It has agreed to buyout existing investors WestBridge Capital, New Atlantic Ventures (NAV), New Enterprise Associates (NEA),...
Will buyouts boss the 2013 India Awards?
India buyouts have crossed the $1 billion threshold in only two years since private equity first came to the country. Those years were, unsurprisingly, 2006 and 2007, the peak of the pre-global financial crisis boom, when total PE investment reached $7.7...
China retail: Asset-heavy to asset-light
Facing competition from e-commerce platforms, China’s traditional offline retailers are moving online – and the ideal combination is a combination of the two. PE investors are seeking opportunity in the disruption
J-Star buys 'fourth hand' Primagest
Primagest, a firm whose primary business is using optical character recognition (OCR) to turn documents in data, appears every bit the tech-savvy up and comer. However, it has been doing the same thing – in one form or another – for 45 years.
Panasonic unit gets KKR cure
KKR's acquisition of Panasonic Healthcare marks a return to form for the firm after its earlier efforts to acquire Japanese chipmaker Renesas were frustrated by the government-backed Innovation Network Corporation of Japan (INCJ). The deal had raised...
Australia's Ironbridge completes Bravura take-private
Ironbridge Capital has completed the take-private of Australia-based financial services administrator Bravura Solutions after minority shareholders approved a deal that values the company around A$173 million ($158 million).
J-Star ups stake in Primagest
Japanese GP J-Star has completed its acquisition of a majority stake in image processing firm Primagest. The financial details of this second tranche of investment were not disclosed, but a source with direct knowledge of the matter said the mid-market...
DRC Capital exits Japan's Casa to Ant Capital
DRC Capital has sold Japan's Casa, a rent guarantee provider formerly known as Rento Go, to Ant Capital Partners and the firm's management. The financial details of the deal were not disclosed.
China Media Capital backs Charm Communications take-private
Hong Kong-based China Media Capital is backing management buyout of Charm Communications, a US-listed Chinese advertising agency. The bid values the company at about $180 million.
Portfolio: CVC Capital Partners and Hong Kong Broadband Network
Hong Kong has one of the most saturated and advanced broadband markets in the world. Finding new areas of growth is difficult but not impossible, says Hong Kong Broadband owner CVC Capital Partners
MSPEA completes quiet Korea acquisition
Morgan Stanley Private Equity Asia’s (MSPEA) investment in Ssangyong C&B and Monalisa is like an iceberg: only one sixth was immediately visible. When the deal was first announced earlier this year, the information disclosed concerned a South Korean listed...
NSR has an appetite for Moshe's
“The typical Indian family stereotype today is different to that of my parents’ generation,” says Parag Saxena, founding general partner and CEO of New Silk Route (NSR). “Back then my mother would cook the meals and keep the house running while my father...
KKR acquires Panasonic healthcare unit for $1.67b
KKR has agreed to acquire an 80% stake in Panasonic Healthcare, a unit of the Japanese electronics giant, for JPY165 billion ($1.67 billion) - the buyout firm's biggest deal in the country to date.
Fosun, Axa's Club Med takeover delayed
Axa Private Equity and China’s Fosun International have suffered a setback in their takeover of France-based vacation resort operator Club Méditerranée (Club Med), as French regulators decided not to rule on shareholder opposition to the deal before mid-March...
Shareholders approve Shuanghui's $4.7b acquisition of Smithfield Foods
Shareholders of US pork producer Smithfield Foods have approved the company's $4.7 billion acquisition by its PE-backed Chinese counterpart Shuanghui International.
MSPEA-backed privatization of Yongye wins board approval
A $339 million management buyout offer for Yongye International, supported by Morgan Stanley Private Equity Asia (MSPEA), has won board approval. The US-listed Chinese animal and plant feed maker is now set to be taken private, pending a shareholder vote....
KKR, CDH invest in $140m China dairy farm joint venture
KKR has completed its first majority investment in China, partnering with CDH Investments and China Modern Dairy in a $140 million greenfield farming joint venture that will deliver premium raw milk to domestic consumers.
NSR buys Moshe's Fine Foods
New Silk Route (NSR) has acquired a majority stake in Mumbai-based Moshe’s Fine Foods, which runs a chain of Mediterranean cuisine restaurants and cafés. The financial terms of the deal were not disclosed.
Hony still committed to China SOE restructuring, more focused on value creation
Hony Capital has pledged to remain a China-focused investor despite the country’s slowing economic growth and forays by other private equity firms into new markets in order to diversify risk. Hony’s emphasis will be on value creation, particularly in...
Mediaflag moves to acquire J-Star-owned sweets maker Tokachi
Mediaflag - a company which provides distribution support services to consumer goods manufacturers - has offered to acquire a 100% stake in Tokachi, a traditional Japanese sweets maker owned by Japanese mid-market buyout firm J-Star. The financial terms...
Archer Capital revives interest in NZ's Abano Healthcare
Archer Capital obtained a five-month standstill agreement with shareholders of New Zealand's Abano Healthcare, potentially allowing time for a new takeover bid to come together after its latest effort was rejected earlier this week.