Buyouts
Baring Asia to merge with EQT
EQT has agreed a EUR 6.8bn (USD 7.5bn) acquisition of Baring Private Equity Asia (BPEA), having decided that organic expansion would unlikely deliver the Asia platform it desires to create a truly global business.
J-Star exits Japan nursing care provider
J-Star has exited dementia-focused nursing care provider Platia to Bain Capital-owned counterpart Nichii Gakkan for an undisclosed sum.
Farallon calls on Toshiba to reconsider PE buyout
Farallon Capital Management, a minority shareholder in Toshiba Corporation, has called on the company to reconsider bringing in a private equity investor amid mounting opposition to a two-way spinoff.
Warburg Pincus buys majority stake in India's Imperial Auto
Warburg Pincus has acquired Imperial Auto Industries, one of India’s oldest automotive parts manufacturers, for an undisclosed sum.
Warburg Pincus buys control of Indonesian insurer
Warburg Pincus has acquired stakes in two Indonesian insurance businesses from Spain-headquartered multinational insurance company Mapfre for EUR 56.6m (USD 62.9m).
Dymon pursues take-private of Singapore healthcare business
Dymon Asia Private Equity has made a take-private offer for Singapore-listed healthcare services provider Singapore O&G that values the company at approximately SGD 141m (USD 103.3m).
AVCJ Awards 2021: Responsible Investment: The Arnott’s Group
In taking ownership of an iconic Australian brand like Tim Tam, KKR was conscious of the need to be a market leader on sustainability. Progress is being made across sourcing, emissions, and packaging
Deal focus: Inspiration snares rare China mid-cap tech buyout
Antute, a third-party IT maintenance provider, became an orphan asset following a larger M&A deal. Inspiration Capital Partners sees it as an attractive play on China’s digitalisation drive
Portfolio: Aspirant Group and Yamato Group
Improving cost controls and realising efficiencies underpinned Aspirant Group’s investment thesis for Japanese fish retailer Yamato Group, and they have helped the company withstand external pressures
Deal focus: Nexus Point doubles down on dentistry
With a dentist clinic chain already in the portfolio, Nexus Point Capital has backed a B2B procurement platform that services clinics. It is a firm believer in the industry’s tailwinds
Australia's AGL rejects Brookfield, Grok Ventures bid
Australia-based utility AGL Energy has rebuffed another acquisition attempt from Brookfield Asset Management and Grok Ventures, a private investment firm established by Mike Cannon-Brookes, co-founder of Atlassian.
BGH seeks regulatory action amid battle for Australia's Virtus
BGH Capital has asked Australia’s Takeovers Panel to intervene a second time in its pursuit of Virtus Health after the fertility care business resolved to engage with CapVest Partners and not entertain BGH’s improved offer.
CLSA acquires Japan childcare operator
CLSA Capital Partners (CLSA CP) has acquired a majority stake in Japanese childcare facility operator Task-Force for an undisclosed sum.
Deal focus: ADV’s Asia hygiene platform play
ISS Environmental Services is well-positioned as Hong Kong’s preferred provider of portable toilets. But ADV Partners has acquired the business with a view to executing a regional roll-up strategy
Infrastructure: Out of the comfort zone
Infrastructure managers in Australia are pushing into the PE space, competing with GPs for assets and buying businesses from them. It falls under the core-plus umbrella, but is the definition being stretched too far?
AVCJ Awards 2021: Operational Value Add: Best & Less Group
Allegro Funds plucked Australian baby and kids retailer Best & Less from its underperforming parent and defied pandemic-related uncertainty to complete a turnaround that culminated in an IPO
AVCJ Awards 2021: Deal of the Year – Large Cap: China Biologic
For Centurium Capital, China Biologic was no ordinary take-private. It was the culmination of a multi-year effort to tighten the company’s shareholding structure and root out management inefficiencies
Blackstone buys majority stake in Indian wealth manager
The Blackstone Group has acquired a majority stake in Indian wealth manager Ask Investment Managers, taking out positions held by Advent International and other investors.
AVCJ Awards 2021: Firm of the Year – Large Cap: Baring Private Equity Asia
Baring Private Equity Asia claims that a thematic approach to origination and flexibility on deal structure allow it to pursue opportunities with greater conviction in a high-valuation environment
Blackstone agrees $6.3b buyout of Australian casino operator
Australian casino operator Crown Resorts has agreed to an acquisition by The Blackstone Group at an equity valuation of AUD 8.9bn (USD 6.34bn), ending a nearly one-year pursuit.
Longreach expands Japan coffee shop footprint
The Longreach Group has completed a third investment in Japan’s coffee shop space with the acquisition of Pokka Create Corporation, which operates more than 200 stores under the Café de Crie brand.
India's Kedaara creates digital services platform
India’s Kedaara Capital is forming an outsourced digital services platform through the merger of Gavs Technologies and Great Software Laboratory (GS Lab), having acquired majority interests in the two companies over the past three months.
Affirma buys Singapore preschool chain
Affirma Capital has acquired Singaporean premium preschool operator Little Paddington for an undisclosed sum.
CVC moves to exit Indonesia's Link Net, buys Malaysia's Affin Hwang
CVC Capital Partners is shaking up its Southeast Asia portfolio with a renewed attempt to exit Indonesian broadband and cable TV provider Link Net and the acquisition of Malaysia-based asset manager Affin Hwang Asset Management.