Exits
PAG in partial exit from Haitong Securities
PAG has made a partial exit from Haitong Securities, 10 months after participating in the Chinese brokerage’s IPO as a cornerstone investor.
Vogo, KTB-backed LG Siltron withdraws IPO
LG Siltron, a silicon wafer manufacturer owned by LG Group, Vogo Investment and KTB Private Equity, has abandoned plans to raise at least $275 million through an IPO. The company won listing approval on October 31 but decided not to proceed because domestic...
Australia's Advent sees 2.5x return on Locker investment
Advent Private Capital has sold metal products manufacturer Locker Group Holdings to US-based Valmont Industries, generating a 2.5x money multiple on its investment. According to AVCJ Research, the Australian GP acquired an 80% stake in Locker just over...
Baring PE Asia exits Taiwan-listed Airtac
Baring Private Equity Asia (BPEA) has completed its exit from Airtac International Group, a Taiwan-founded but now mainland China-headquartered manufacturer of pneumatic components.
Ironbridge-backed FleetPartners to tap debt markets
Fleet Partners, an Australian vehicle-leasing firm backed by Ironbridge Equity Partners and the Government of Singapore Investment Corporation (GIC), plans to raise more than $200 million in debt ahead of its IPO.
Quadrant-owned Virtus Health targets IPO in 2013
Quadrant Private Equity is targeting a A$500 million ($520 million) IPO this year for its portfolio company Virtus Health, Australia's largest fertility business.
Aditya Birla-backed V-Mart raises $2.6m from anchor investors
Aditya Birla-backed V Mart Retail, a budget Indian retailer, has raised INR141 million ($2.6 million) from anchor investors, after finalizing the allocation of 674,000 shares at INRR210 apiece.
Trafigura subsidiary buys Ausfuel from Archer Capital
Archer Capital has exited Ausfuel to Puma Energy, a subsidiary of Trafigura, for a reported cash sum of $650 million. The Australian GP acquired a majority stake in the company from CHAMP Ventures in 2010, paying around A$120 million ($125 million).
NSR targets exit as India's Ortel files for IPO
New Silk Route (NSR) is set to exit Indian cable TV provider Ortel Communications with the company planning to raise as much as INR1 billion ($18.7 million) through an IPO. This is the second time Ortel has tried to go public, having pulled out of an...
HIG Capital sells Anvis to Japan's Tokai Rubber
HIG Capital has sold German car parts maker Anvis to Japan's Tokai Rubber Industries for EUR132 million ($177.91 million). Financial terms of the deal were not undisclosed.
Chinese firms say red tape hinders M&A in Europe – survey
More than three-quarters of Chinese companies encounter operating difficulties in the EU while nearly half have been obstructed by regulatory issues, according to a survey by the EU Chamber of Commerce in China. The findings represent a mixed blessing...
Caterpillar's China scandal draws attention to ex-PE asset IMM
International Mining Machinery (IMM), a Chinese mining equipment manufacturer acquired by Joy Global from private equity investors in 2011, has been thrust into the spotlight as a result of Caterpillar’s China accounting scandal.
ePlanet exits agro-chemicals firm as Japan's SDS enters
ePlanet will exit Indian agro-chemicals firm Sree Ramcides Chemicals as Japan's SDS Biotech invests INR1 billion ($18.8 million) in the company for a 65% stake.
Goldman Sachs completes another partial exit from ICBC
Goldman Sachs has completed another partial exit from its holding in Industrial and Commercial Bank of China (ICBC), selling $1 billion worth of H-shares. The investment bank's merchant banking division has offloaded ICBC shares at least four times prior...
IL&FS Private Equity invests $33m in real estate in third quarter
IL&FS Investment Managers (IIML), the India's largest private equity firm by assets under management, invested INR1.8 billion ($33 million) in real estate during the quarter ended December 2012. It also recorded exits worth INR2.45 billion across private...
PE-backed Chinese baby skincare brand bought by Johnson & Johnson
Private equity-backed Shanghai Elsker Mother & Baby, a Chinese manufacturer of natural baby skincare products, has been acquired by Johnson & Johnson. Terms of the transaction were not disclosed but the price is said to be around RMB650 million ($104...
Japan's Aeon eyes CVC's Matahari - report
Japan's Aeon Group and a unit of Thailand's Central Group are said to be eyeing CVC Capital Partners-owned Indonesian retail group Matahari Department Store.
PE firms compete for Everstone's stake in VLCC – report
Several global and regional private equity firms are reportedly in the hunt for Everstone Capital’s 16% interest in Indian health and beauty treatment specialist VLCC.
Asia PE fundraising drops by one third to $46.8b in 2012
Private equity fundraising in Asia Pacific slumped by more than one third to $46.8 billion in 2012 from $72.9 billion a year ago as capital committed to China-focused vehicles dropped off markedly over the course of the year. It is the lowest annual total...
J-Star completes clothing brand turnaround
Three and-a-half years ago, Olive des Olive, a hip teen clothing-brand based out of Tokyo, was suffering. Having filed for bankruptcy, its reputation frayed by allegations that its clothing came from a factory in China and had been re-labeled “Made in...
Advantage sees 7x return on coffee chain deal
When Advantage Partenrs paid JPY15 billion ($146 million) for a 78% stake in Komeda Coffee in 2008, the chain was to a certain extent a victim of its own success. After more than 40 years of expansion the company had grown to around 300 stores and its...
Everstone acquires stake in India's Transpole
Everstone Capital has invested INR2.2 billion ($41 million) to acquire a significant minority stake in Transpole Logistics, one of the leading freight forwarders in India. The company will use to proceeds to expand overseas operations in China, Malaysia,...
J-Star exit sees 3x return on Olive des Olive exit
J-Star, a Japanese mid-market buyout firm, has exited Tokyo clothing brand Olive des Olive to wholesale company Takisada-Osaka, securing a return of more than 3x and an estimated IRR of 35-40%.
Apollo Hospitals founder interested in Apax stake
Apax Partners is preparing to exit Indian healthcare chain Apollo Hospitals, with Prathap C. Reddy, the company’s founder and chairman, open to buying part of the stake.