Trade sale
Sun Capital sells US-based Lexington Home Brands to Chinese buyers
Sun Capital Partners has exited Lexington Home Brands, a US-based manufacturer of residential and contract furnishings, to Shenzhen-listed Luolai Lifestyle Technology and Chinese PE firm Yixing Capital.
4Q analysis: Big ticket bias
Ausgrid deal obscures weak investment environment; fundraising returns to normal after state-backed blitz; China’s IPO market is on the mend, but public market problems undermine Asia exits
IDG sees 15 start-ups achieve unicorn status in 2016
Fifteen start-ups backed by IDG Capital Partners achieved valuations of $1 billion or more in 2016, taking the total number of unicorns in the China-focused VC firm’s portfolio to 26 over the past 12 years.
KKR, CDH to exit China Modern Dairy for a second time
KKR and CDH Investments have agreed to sell HK$1.87 billion ($241.5 million) worth of shares in China Modern Dairy – which will see them fully exit a position they received when selling part of a greenfield cattle farming joint venture to Modern Dairy...
AVCJ Awards 2016: AVCJ Special Achievement: K.Y. Tang
K.Y. Tang was among the pioneers of leveraged buyouts in Asia while at UBS Capital Asia. He subsequently spun out to form Affinity Equity Partners, where the success continues
AVCJ Awards 2016: Exit of the Year - Mid Cap: Golden Foods Siam
Golden Foods Siam was struggling when Navis Capital Partners took it over, but the GP’s willingness to give management the needed tools helped generate a 3.4x return
AVCJ Awards 2016: Exit of the Year - Large Cap: Loen Entertainment
Vertical integration and growing interest in Korean media assets enabled Affinity Equity Partners to secure a strong return on Loen Entertainment, far quicker than anticipated
Japan's AGC Asahi Glass buys PE-owned CMC Biologics
Japanese glass, ceramic and chemicals maker AGC Asahi Glass has paid JPY60 billion ($510 million) for CMC Biologics, a Denmark-based biopharmaceutical manufacturer backed by several private equity firms.
CHAMP Ventures, Frontenac exit H-E Parts to Japan's Hitachi
Australia's CHAMP Ventures and its US-based partner Frontenac will exit H-E Parts – a leading provider of replacement parts for mining and construction vehicles – as Hitachi Construction Machinery agreed to buy the business for an enterprise valuation...
AVCJ Awards 2016: Operational Value Add: China Hydroelectric
NewQuest Capital Partners inspired fellow shareholders in China Hydroelectric to back an aggressive take-private and achieve a seven-fold hike in equity value
AVCJ Awards 2016: Firm of the Year & Fundraising of the Year - Mid Cap: Quadrant Private Equity
Australia-based Quadrant Private Equity has made a habit of six-week fundraises. The capital continues to target middle-market consolidation plays
KTB, Q Capital agree $354m exit from Korea's Dongbu Express
A consortium led by KTB Private Equity and Q Capital Partners has agreed to sell Korea-based logistics provider Dongwu Express to local conglomerate Dongwon Group for KRW420 billion ($354 million).
Japan's Outsourcing buys Orizon from European GP
Japanese employment services company Outsourcing has agreed to acquire German jobs portal operator Orizon, providing an exit for UK-based private equity firm Silverfleet Capital.
Cassia backs $40m investment in China retail
Cassia Investments has supported Japanese clothing maker Evisu Group's $40 million buy-back of its China retail and franchising rights.
2016 in review: Uncertainty reigns
Infrastructure and late-stage technology among the few investment bright spots; renminbi vehicles dominate the fundraising landscape; public market instability undermines exit plans
Two Korean strategics confirm bids for PE-owned Daesung
South Korean conglomerates Hyosung Corporation and SK Group have both entered the bidding for Daesung Industrial Gases, an industrial gas maker controlled by a Goldman Sachs-led consortium.
Rocket Internet sells Foodpanda to Delivery Hero
Germany-based start-up developer Rocket Internet has sold its entire stake in emerging markets-focused food delivery app Foodpanda to the company's main global competitor, Delivery Hero.
Japan's Polaris agrees sale of SWP to Isetan Mitsukoshi
Polaris Capital has agreed to sell SWP Holdings, a Japanese salon and sports club operator it acquired in 2013, to department store group Isetan Mitsukoshi Holdings (IMH) for an undisclosed sum.
KDDI to buy Biglobe from Japan Industrial Partners
Japan Industrial Partners (JIP) has agreed to sell Japanese internet service provider Biglobe to KDDI Group for approximately JPY80 billion ($699 million), nearly three years after it carved out the asset from NEC.
India exits: Diamonds in the rough
Exit opportunities are available for savvy investors in India, and market professionals say prospects are good in the long term. But GPs are likely to continue to find the near future difficult
China’s Ctrip to acquire VC-backed UK travel site Skyscanner
China’s largest online travel site Ctrip.com has agreed to buy Skyscanner, an airfare comparison website backed by VC investors, in a deal valuing the UK-based company at approximately GBP1.4 billion ($1.74 billion).
Deal focus: Mitsui makes medical inroads
Having lost out to KKR when bidding for Panasonic Healthcare two years ago, Mitsui & Co. seized upon a second chance to get involved and offer the company access to its global network of medical assets
India's Quikr buys Sequoia, Kalaari-backed Grabhouse
Indian classifieds site Quikr has purchased Grabhouse, a rental property listing platform backed by Sequoia Capital and Kalaari Capital.
Thailand's Charoen Pokphand buys Bellisio from US GP
Thai agro-industrial giant Charoen Pokphand Foods (CPF) has acquired frozen meals specialist Bellisio from US private equity firm Centre Partners for $1.1 billion.