Trade sale
FountainVest buys China logistics business
FountainVest Partners has agreed to acquire a majority stake in China-based CJ Rokin Logistics from Korea’s CJ Logistics for KRW733.8 billion ($661.3 million).
Everstone exits India bakery business
Everstone Capital has exited Indian bread brand Modern Foods to a local subsidiary of Grupo Bimbo, a global strategic headquartered in Mexico, for an undisclosed sum.
MBK exits China's Apex International
MBK Partners has agreed to sell Apex International, China’s second-largest air freight forwarder, to Swiss logistics giant Kuehne + Nagel.
China's CITIC sells US dental business
CITIC Capital Partners has exited US-based dental business DDS Lab – the private equity firm’s first acquisition in the US as a lead investor – to RoundTable Healthcare Partners for an undisclosed sum.
Deal focus: Potentia exits Ascender, closes debut fund
Potentia Capital's debut fundraise was given extra impetus by an impending exit from Australia-based software provider Ascender, which delivered a 30x return
New Frontier to privatize US-listed China hospital business
The New Frontier Group-led consortium that acquired Chinese hospital operator United Family Healthcare (UFH) through a special purpose acquisition company (SPAC) in 2019 is now looking to take the US-listed business private at a valuation of around $1.6...
Match buys VC-backed Korean social platform for $1.7b
Hyperconnect, a Korean social media platform backed by Altos Ventures and SoftBank Ventures Korea, has agreed to an acquisition by online dating giant Match Group for $1.73 billion in cash and stock.
Advent buys majority stake in India's ZCL, MSPEA exits
Advent International has agreed to acquire Indian pharmaceuticals supplier ZCL Chemicals, setting up a minority exit for Morgan Stanley Private Equity Asia (MSPEA).
CDH exits Singapore equipment rental business
Japanese conglomerate Sumitomo Corporation has acquired Singapore-based construction equipment rental business Aver Asia, facilitating a full exit for CDH Investments.
India's Moonfrog Labs acquired by Swedish gaming studio
Swedish free-to-play gaming studio Stillfront has agreed to acquire 100% of Indian mobile games developer Moonfrog Labs, setting up exits for Tiger Global Management and Sequoia Capital India.
US strategic to buy PE-backed Australia payroll business
Ceridian, a US-based human resources technology provider has agreed to acquire Australian payroll software specialist Ascender, setting up exits for Potentia Capital and Five V Capital.
CLSA partially exits Japan medical IT provider
CLSA Capital Partners (CLSA CP) has partially exited its position in NHOSA Corporation, a Japanese IT provider for dental clinics and medical institutions.
AVCJ Awards 2020: Exit of the Year - Mid Cap: EMC Holdings
Taking full ownership of EMC Holdings wasn’t on Affirma Capital’s agenda, but it performed a successful pivot when the business started moving in the wrong direction
Longreach sells Japanese jeweler to Integral
The Longreach Group has exited Primo Japan to Integral Corporation for an undisclosed sum. This makes Integral the jewelry retailer’s fourth consecutive private equity owner.
AVCJ Awards 2020: Operational Value Add: Nexus Day Hospitals
Having formed Australia-based Nexus Day Hospitals by merging two smaller operators, Mercury Capital led a wholesale expansion and professionalization of the business
Deal focus: Monetizing mice
ORI Capital’s 2.8x return on its investment in Kymab was in part based on helping the company make the transition from antibody-based discovery platform to drug development engine
AVCJ Awards 2020: Operational Value Add: TEG
Affinity Equity Partners turned TEG from a ticketing business into a broad-based live events promoter, while simultaneously taking it from Australia-centric to global
Hong Kong's ORI hits first close on Fund II, exits Kymab
Hong Kong healthcare-focused VC firm ORI Capital has reached a first close of $112 million on its second fund and exited its largest investment, UK biotech developer Kymab, as part of a $1.1 billion deal.
Adamantem sells Australia's Servian to US strategic
Australia’s Adamantem Capital has agreed to sell its position local data analytics consultancy Servian to US counterpart Cognizant for an undisclosed sum.
Japan's J-Star confirms two exits
Japan’s J-Star has confirmed trade sale exits of healthcare coverage specialist NHS Insurance and fire safety equipment supplier Yokoi Manufacturing.
Applied Materials revises offer for Japan's Kokusai Electric
Applied Materials, which agreed to acquire Japanese semiconductor industry supplier Kokusai Electric from KKR 18 months ago, has increased its offer for the company from $2.2 billion to $3.5 billion.
Delivery Hero wins approval for Woowa deal in Korea
Private equity investors in Korean food delivery business Woowa Brothers look set for a liquidity event after regulators gave conditional approval for a $4 billion acquisition by Delivery Hero.
Platinum agrees $398m exit from Asia precision manufacturer
Platinum Equity has sold Compart Systems, a Singapore-headquartered metal components manufacturer, to Shanghai Wanye Enterprises for a valuation of approximately $398 million.
OTPP backs Korean fried chicken chain at $1.6b valuation
Ontario Teachers’ Pension Plan (OTPP) has invested in Korean fried chicken restaurant franchisor BHC Group at an enterprise valuation of KRW1.8 trillion ($1.6 billion), facilitating a full exit for Elevation Equity Partners.
