Buyouts
TPG, Potentia pursue Australia's Smartgroup
TPG Capital and Potentia Capital have submitted a buyout offer for employee management services provider Smartgroup that values the Australia-listed business at a market capitalization of A$1.38 billon ($993 million).
Australia's Liverpool Partners acquires coffee brand
Australian private equity firm Liverpool Partners has acquired a majority stake in Seven Miles Coffee Roasters, a branded coffee supplier to the local cafe segment.
FountainVest buys New Zealand pet food business
China-focused private equity firm FountainVest Partners has agreed to buy Ziwi, New Zealand’s leading exporter of pet food.
EQT extends Australia IT rollup play
EQT-owned Nexon Asia Pacific, an Australia-based IT services provider, has acquired local counterpart Veridian Solutions for an undisclosed sum. This is its third bolt-on in as many months.
Deal focus: Affinity capitalizes on enforced divestment
Delivery Hero was instructed to offload Yogiyo as a condition of buying Woowa Brothers. Affinity, Permira, and GS Retail made the most of a $685 million opportunity to enter Korea’s food delivery space
China take-privates: Holding pattern
Pressure is mounting on Chinese companies listed in New York, from domestic and US regulators. Is another wave of PE-backed take-privates imminent?
VIG buys Korea waste-to-energy business
Korean private equity firm VIG Partners has acquired a controlling stake in waste-to-energy (WTE) facility operator BioEnergyFarmAsan for about $100 million.
Japan's Shiseido sells US makeup brands to Advent
Japan’s Shiseido has extended a program of non-core divestments with the sale of three of its US makeup brands to Advent International for $700 million.
Advent sells Chinese mattress maker to Hillhouse
Advent International has sold its controlling stake in AI Dream – operator of the Serta and King Koil mattress brands in China – to Hillhouse Capital.
CBC-led consortium buys Bain's stake in Korean botox maker
A consortium led by Asia healthcare-focused private equity firm CBC Group has agreed to acquire a 46.9% interest in Hugel, a South Korean manufacturer of botox and other health-related pharmaceuticals, for KRW1.7 trillion ($1.5 billion).
BGH-owned Abano to buy Australia dentistry business
Abano Healthcare, a New Zealand dentistry chain owned by BGH Capital and Ontario Teachers’ Pension Plan (OTPP), has agreed to acquire Australian peer 1300 Smiles for an enterprise valuation of A$165 million ($120 million).
KKR, OTPP, PSP to buy Australia's Spark Infrastructure for $7.2b
KKR, Ontario Teachers’ Pension Plan (OTPP), PSP Investments have agreed to buy Australia-listed Spark Infrastructure, which has extensive interests in electricity transmission and distribution, for an enterprise valuation of A$10.1 billion ($7.2 billion)....
Quadrant buys Australia sleepwear brand
Quadrant Private Equity has acquired Australian women’s sleepwear brand Papinelle for an undisclosed sum with plans for international expansion.
Partners Group buys India broadband provider for $1.2b
Partners Group has agreed to buy India-based broadband provider Atria Convergence Technologies for an enterprise valuation of nearly $1.2 billion, facilitating a full exit for True North and a partial exit for TA Associates.
Australia's Advent buys VR gaming business
Australian lower middle-market private equity firm Advent Partners has agreed to take a majority stake in Melbourne-based virtual reality gaming company Zero Latency VR.
Baring acquires Hinduja healthcare business for $1.2b
Baring Private Equity Asia has agreed to buy a healthcare services unit of Anglo-Indian conglomerate Hinduja Group at an enterprise valuation of $1.2 billion.
Tower Capital backs $230m Singapore business services carve-out
Tower Capital is backing a consortium seeking to carve out business services provider Boardroom from Singapore-listed GK Goh Holdings at a valuation of S$312 million ($230 million).
Primavera pursues China online education take-private
Primavera Capital Group has submitted a $33.3 million take-private bid for Liulishuo, a China-based operator of an English language learning app. The company's stock has struggled following a recent crackdown on online education platforms in China.
Affirma invests $77m in Korean steelmakers
Affirma Capital has acquired a majority stake in two steel manufacturing subsidiaries of Korea-based industrial conglomerate SeAH Group for $76.9 million.
Accel-KKR buys majority stake in New Zealand's Unimarket
Accel-KKR, a PE firm created by Accel Partners and KKR, has acquired a majority stake in New Zealand’s Unimarket, a diversified procurement marketplace, for an undisclosed sum.
Activist target Japan Asia Group agrees asset sale to Carlyle
Japan Asia Group (JAG) has revived plans to sell stakes in two key subsidiaries to The Carlyle Group, six months after a similar transaction was abandoned in the face of opposition from activist investors. The deal is worth JPY58.5 billion ($534 million)....
EQT pursues $2.2b Australia software take-private
Iress, an Australia-listed software developer that serves the financial services sector, has invited EQT to conduct further due diligence following receipt of a take-private offer worth up to A$3 billion ($2.2 billion).
PAG acquires Indian CDMO Acme for $145m
PAG has acquired a controlling stake in Acme Formulation Private, an India-based contract development and manufacturing organization (CDMO), for approximately $145 million.
J-GIA carves out furniture business from Japan's Seven & i
Japan Growth Investments Alliance (J-GIA) has agreed to buy a majority stake in furniture and home décor business Francfranc – which has stores in Japan and Hong Kong – from Seven & i Holdings, the parent of 7-Eleven.