Trade sale
Carlyle, Trustar pursue partial exit, rollover of McDonald's China
The Carlyle Group and Trustar Capital, private equity owners of McDonald’s China, are poised to abandon plans for a single asset continuation fund in favour of exiting part of their holdings and rolling over the rest into other funds.
Deal focus: Patience pays off for Trustar on Moritex
Trustar Capital’s 20x return on Japanese precision manufacturing business Moritex was driven by greater geographic diversification in production and distribution and a shakeup of the product portfolio
Endeavour exits Japan automotive components maker
Japanese GP Endeavour United has exited local automotive components maker Crefact to local strategic Hiruta Kogyo for an undisclosed sum.
Trustar exits Japan's Moritex via $275m trade sale
Trustar Capital has sold Japanese machine vision lenses maker Moritex Corporation to a strategic buyer for about USD 275m after a nearly nine-year hold.
Deal focus: Family offices flock to FirstCry
FirstCry’s USD 52m funding round underscores the willingness of certain Indian family offices to lead sizeable technology deals and the importance attached by companies to investor base diversification
Dymon exits Singapore's AMES via trade sale
Dymon Asia Private Equity has sold 100% of Singapore-based biohazardous waste disposal business Asia Medical Enviro Services (AMES) to Indonesia-listed coal miner TBS Energi Utama.
PAG buys Australian hospitality business from KKR
PAG has acquired Australian Venue, which owns a portfolio of pubs, bars, and restaurants across Australia, from KKR for more than AUD 1.4bn (USD 900m).
Indian family offices invest $52m in FirstCry
Three Indian family offices have committed INR 4.35bn (USD 52.7m) to domestic mother-and-baby retailer FirstCry through a secondary transaction that facilitated a partial exit for SoftBank Vision Fund, among others.
WestBridge buys investment platform FundsIndia
WestBridge Capital has acquired a majority stake in FundsIndia, an online investment platform that offers access to mutual funds, public equities, and fixed deposit products, for an undisclosed sum.
CLSA exits Japanese uniform rental business Uni-Mate
Japan’s CLSA Capital Partners (CLSA CP) has sold 100% of uniform rental and cleaning business Uni-Mate to local private equity firm Karita & Company (K&C) for an undisclosed sum.
Deal focus: Longreach hits homerun with Quasar
The Longreach Group transitioned Quasar Medical to professional management, took it into new markets, and diversified the company’s manufacturing footprint. A 7x return was its reward
TA sells Australia's Honan Insurance to global strategic player
TA Associates has agreed to sell Honan Insurance Group, an Australia-based insurance broker specializing in corporate risk, employee benefits, and strata and real estate insurance, to Marsh McLennan.
Japan's Advantage sells Wavedash to US-listed strategic for $61m
Japan’s Advantage Partners has sold online ticket marketplace Wavedash to Vivid Seats, a US-listed ticketing technology company, for JPY 8.7bn (USD 61m).
Carlyle backs Quest Global, Bain, Advent exit
The Carlyle Group has agreed to acquire a significant minority stake in Singapore-based engineering services company Quest Global, facilitating exits for Bain Capital and Advent International.
Advent buys Australian fashion brand Zimmermann
Advent International has agreed to acquire a controlling interest in Australia-headquartered fashion brand Zimmerman, facilitating a partial exit for Italy-based private equity firm Style Capital.
AVCJ Awards 2023 - nominations have closed
Nominations for the 2023 AVCJ Private Equity & Venture Capital Awards have now closed. Thanks to all who participated. Voting will open in about two weeks.
L Catterton exits Australia’s Seafolly
L Catterton Asia has sold Australian swimwear brand Seafolly to an unidentified Asian strategic buyer in a deal that values the company at AUD 70m (USD 46m).
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.
Longreach sells Hong Kong medical devices player to Boyu
The Longreach Group has sold Quasar Medical, a Hong Kong-headquartered medical devices manufacturer it has owned since 2019, to Boyu Capital for an undisclosed sum.
Olympus part-exits Singapore's Constant Energy via trade sale
Olympus Capital Asia has made a partial exit from Singapore-based renewables platform Constant Energy through a sale to Europe-headquartered Virya Energy.
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.
DCP sells MFS Technology to Chinese strategic for $460m
DCP Capital Partners has agreed to sell MFS Technology, a manufacturer of customised printed circuit boards (PCB) that has a presence across Asia, to Shenzhen-listed Victory Giant Technology for USD 460m.
Aspirant exits Japanese fish retailer to local strategic
Japanese middle market private equity firm Aspirant Group has sold Yamato, a local seafood company with interests stretching from fish wholesaling to conveyor belt sushi restaurants, to kitchen-wear supplier Tenpos HD.