Buyouts
Bain set for $630m buyout of Australia's Estia Health
Bain Capital has won board approval to acquire Australia-listed aged care provider Estia Health through a scheme of implementation that gives the business an enterprise value of approximately AUD 959m (USD 630m).
KKR buys India pallet pooling business
KKR has paid an undisclosed sum for a majority stake in Leap India, a supply chain services provider focused on cost reduction through pallet pooling. It sets up exits for several PE investors.
Q&A: The Longreach Group's Mark Chiba
Mark Chiba, group chairman of North Asia-focused The Longreach Group, on deal flow in Japan’s middle market, pursuing platform acquisitions, the rise of digitalisation, and the complexities of take-privates
Deal focus: AGIC eyes beauty with industrial characteristics
Pure Trade runs a network of third-party manufacturers that provide packaging to global beauty brands. AGIC saw an asset that sat neatly in its Asia-Europe industrial supply chain sweet spot
BPEA EQT completes Vistra, Tricor merger
BPEA EQT has completed the merger of Asia-headquartered corporate services providers Vistra Group and Tricor Group through a transaction that values the combined business at USD 6.5bn.
BPEA EQT buys India fertility clinic business
BPEA EQT has agreed to acquire a controlling stake in Indira IVF, India’s largest fertility clinic chain, facilitating an exit for minority investor TA Associates.
Australia GP stakes investor Pacific Current gets buyout offer
Pacific Current Group, a listed Australian asset manager that takes economic interests in third-party investment managers, has become the subject of a bidding war between two industry peers.
AGIC buys French beauty packaging player
AGIC Capital, a specialist in Asia-Europe cross-border deals, has acquired Pure Trade, a Paris-headquartered packaging supplier to the global beauty industry.
Asia deal financing: A selective market
Regional buyout activity is weak but leveraged loans are available for the right kind of target – in Japan, Korea, Australia, and beyond – and with a suitably customised structure
Deal focus: Glow chooses B2B supplier for debut deal
Australia’s Glow Capital Partners took its time finding a maiden investment that ticked all the boxes of its consumer and brands strategy. This involved edging slightly down the supply chain
Asia-based football investment platform backs England's Charlton Athletic
ACA Football Partners (ACAFP), an investment platform established by professionals from Singapore-based ACA Investments, is part of a consortium that has acquired English football club Charlton Athletic.
Australia's Five V buys security alarm connectivity business
Australia’s Five V Capital has acquired a majority position in Permaconn, a locally based equipment supplier for the security alarm and smart home markets.
Bain acquires India's Adani Capital
Bain Capital has agreed to acquire 90% of Indian non-bank financial companies (NBFCs) Adani Capital and Adani Housing in a deal worth at least USD 170m.
Strategic co-investors commit to JIP's mega Toshiba buyout
Rohm Semiconductor and Niterra, component suppliers to the semiconductor and automotive industries, respectively, have confirmed their participation in the Japan Industrial Partners-led (JIP) JPY 2trn (USD 15.3bn) tender offer for Toshiba Corporation....
Australia's River Capital targets UK cake shop chain
River Capital, an Australian investment firm that owns speciality cake retailer The Cheesecake Shop, has been rebuffed by the board of UK-based Cake Box Holdings after submitting a buyout offer for the listed company.
Asia fundraising frustrates in first half of 2023
Asia PE fundraising reached USD 60.3bn in the first half of 2023, down 7.6% year-on-year, but the total was still skewed upwards by activity in the renminbi-denominated space. Capital committed to US dollar funds alone was USD 21.8bn, down from USD 48.2bn....
Glenwood takes legal action over disputed Korea transaction
An arbitration proceeding has been initiated in Singapore regarding a dispute between Glenwood Private Equity and BPEA EQT over the failed sale of Korea-based industrial films producer PI Advanced Materials.
Hahn acquires Korea medical devices player
Hahn & Company has acquired a nearly two-thirds stake in Korea-listed medical laser maker Lutronic through a tender offer for about KRW 629bn (USD 497m).
Australia's Glow buys clothing brand in debut deal
Australia’s Glow Capital has agreed its debut deal, acquiring 51% of Cargo Crew, a local workplace clothing brand specialising in restaurant uniforms.
Creature comforts: Why PE likes pet care
Private equity investors have long championed the resilient characteristics of pet care globally. The pandemic helped solidify a similar value proposition in Asia
2Q analysis: Still scrambling
State-supported deals prop up Asia private equity investment; GPs hustle for liquidity in an unforgiving exit landscape; ex-China mid-market players gain some traction in fundraising
China Merchants Capital moves for Bain target Chindata
China Merchants Capital is challenging Bain Capital for Chindata Group, a largely China-focused data centre operator, having submitted a USD 3.4bn all-cash offer for the US-listed company.
Portfolio: True North and Integrace
True North has spent five years transforming Integrace from a low-margin drug portfolio into a broader, better-performing platform with digital capabilities. The M&A story isn’t finished yet
Tower Capital buys payments unit from Singapore's DBS
Tower Capital Asia has completed the fourth investment from its debut Southeast Asia fund – taking deployment past 60% - with the acquisition of a majority stake in payment solutions provider AXS from DBS Bank.