Buyouts
MSPEA buys control of Singapore-listed APAC Realty
Morgan Stanley Private Equity Asia (MSPEA) as agreed to buy Northstar Group’s majority stake in APAC Realty, a Singapore-listed real estate services company in Asia, for SGD 129.5m (USD 94.2m).
Japan's Hitachi mulls divestment of logistics unit
Hitachi has confirmed it may divest its logistics unit, Hitachi Transport System, following a report that KKR was poised to buy the asset for more than JPY 600bn (USD 4.69bn).
KKR pursues $15b Australia healthcare take-private
A KKR-led consortium has proposed to acquire Ramsay Health Care, an Australia-listed hospital operator with a footprint that encompasses Australia, Europe, and other parts of Asia, at a valuation of approximately AUD 20.1bn (USD 14.9bn).
KV Asia buys Malaysia industrial glove manufacturer
KV Asia Capital has acquired a majority stake in G.B. Industries (GBI), a Malaysia-based manufacturer of rubber insulating gloves and sleeves, for an undisclosed sum.
Bain launches tender offer for Japan marketing business
Bain Capital has launched a tender offer for Japan-based television and direct marketing business Tri-Stage that values the company at approximately JPY 17.2bn (USD 137.3m).
1Q analysis: Monetising managers
Baring Asia and PAG underline the value of their management entities; exits slump amid uncertainty; BGH Capital, renminbi GPs shore up fundraising; investment fails to extend the late 2021 flourish
Portfolio: Affinity Equity Partners and ServeOne
Affinity Equity Partners is redefining the B2B outsourcing industry by helping Korea’s ServeOne, escape the gravity of its chaebol parent to access new markets and business lines
ShawKwei buys Australia beauty, healthcare company
ShawKwei & Partners has acquired Australia’s Rauxel, a beauty and healthcare industry supplier, for an undisclosed sum. It will be merged with existing portfolio company Icons Beauty Group.
ChrysCapital, GIC back $593m India asset management carve-out
ChrysCapital Partners and GIC have teamed up with Bandhan Financial Holdings – an Indian banking and financial services company – to acquire IDFC’s asset management business for INR 45bn (USD 593m).
BGH continues fight for Australia's Virtus Health
BGH Capital is refusing to give up its pursuit of Australian fertility care business Virtus Health, tabling a revised buyout bid even after the company entered a binding agreement with CapVest Partners.
Deal focus: India EV set for mass mobility boom
India’s EverSource Capital sees a fast track to auto industry electrification in the B2B fleet services of Lithium Urban Technologies. The company plans more than fivefold growth in the next few years
Carlyle sells Japan construction materials supplier to Lone Star
The Carlyle Group has sold Senqcia Corporation, a Japanese construction materials supplier formerly known as Hitachi Metals Techno, to Lone Star Funds for an undisclosed sum.
Effissimo pledges to support Bain buyout of Toshiba
Bain Capital appears to be preparing a take-private bid for Toshiba Corporation, having secured the support of the company’s largest activist shareholder for a potential tender offer.
Riverside backs Australia events software provider
The Riverside Company has invested an undisclosed sum in EventsAIR, an Australian events management software provider for in-person, virtual, and hybrid events.
Deal focus: Jade Invest rides pest control M&A boom
Having offered a blueprint for pest control consolidation globally in Anticimex, EQT wants to repeat the trick in China with Guardian Hygiene Service. It meant a 3.3x return for previous owner Jade Invest
EQT and Baring Asia: Size matters
The significance of EQT’s acquisition of Baring Private Equity Asia is in the strategic machinations of global GPs as much as in the implications for on-the-ground dealmaking
Diageo divests Korean whisky brand to local PE consortium
Global beverage giant Diageo has agreed to sell Windsor, Korea’s best-selling whisky brand, to Bayside Private Equity and Metis Private Equity for KRW 200bn (USD 163.2m).
Liverpool Partners buys Australian fertility business
Australian healthcare player Healius has agreed to divest another asset to private equity, with the sale of its fertility business to Liverpool Partners for AUD 30.5m (USD 23m).
India's EverSource acquires local EV fleet operator
India’s EverSource Capital has acquired a majority stake in Lithium Urban Technologies, a local electric vehicle (EV) fleet and charging infrastructure operator, for an undisclosed sum.
EQT buys China pest control business
EQT Private Equity Asia has acquired majority stake in Guardian Hygiene Service, China’s largest domestic pest control company, for an undisclosed sum. It facilitates a full exit for Jade Invest.
Leveraged finance: ESG sells
Private equity firms in Asia are increasingly willing to consider sustainability-linked credit facilities, and banks are generally happy to provide them. Speed is currently delaying standardisation
Trustar buys China condiments supplier
Trustar Capital, formerly known as CITIC Capital Partners, has acquired China-based food condiments supplier Beijing Salion Foods for an undisclosed sum.
Brookfield buys Australia non-bank lender for $1.1b
Brookfield Asset Management has agreed to acquire Australian non-bank lender and asset manager La Trobe Financial for about USD 1.1bn, facilitating an exit for The Blackstone Group.
Livingbridge gets ESG-linked credit facility in Australia from Ares
Livingbridge has secured AUD 280m (USD 206m) in sustainability-linked credit facilities from Ares Management to support its acquisition of Australia-based waste management services provider Waste Services Group (WSG).