Industrials
Carlyle sells Japan construction materials supplier to Lone Star
The Carlyle Group has sold Senqcia Corporation, a Japanese construction materials supplier formerly known as Hitachi Metals Techno, to Lone Star Funds for an undisclosed sum.
Effissimo pledges to support Bain buyout of Toshiba
Bain Capital appears to be preparing a take-private bid for Toshiba Corporation, having secured the support of the company’s largest activist shareholder for a potential tender offer.
India's Ofbusiness secures $200m round for lending unit
OfBusiness, an India-based B2B platform focused on industrial supply chain and procurement services, has raised USD 200m in Series A funding for its lending unit.
Trustar buys China condiments supplier
Trustar Capital, formerly known as CITIC Capital Partners, has acquired China-based food condiments supplier Beijing Salion Foods for an undisclosed sum.
Livingbridge gets ESG-linked credit facility in Australia from Ares
Livingbridge has secured AUD 280m (USD 206m) in sustainability-linked credit facilities from Ares Management to support its acquisition of Australia-based waste management services provider Waste Services Group (WSG).
Warburg Pincus buys majority stake in India's Imperial Auto
Warburg Pincus has acquired Imperial Auto Industries, one of India’s oldest automotive parts manufacturers, for an undisclosed sum.
Creador makes second SE Asia food investment in five months
Malaysia-based Creador has acquired a significant minority stake in local food industry supplier Custom Food Ingredients for an undisclosed sum as part of a category platform play.
Deal focus: ADV’s Asia hygiene platform play
ISS Environmental Services is well-positioned as Hong Kong’s preferred provider of portable toilets. But ADV Partners has acquired the business with a view to executing a regional roll-up strategy
Crescendo closes third Korea fund on $910m
Korean middle-market private equity firm Crescendo Equity Partners has confirmed a final close of USD 910m on its third flagship fund, beating a target of USD 700m.
Navis poised for 6x return on TES-Envirocorp
Navis Capital Partners is set to generate a 6x return on its investment in Singapore-based TES-Enivrocorp, following an agreement to sell the environmental services provider to Korea’s SK Ecoplant at a valuation of USD 1bn.
Legend leads $63m round for China's Hoteam Software
Legend Capital has led a CNY 400m (USD 63m) Series C round for Chinese industrial software supplier Hoteam Software
India's Moglix raises $250m at $2.6b valuation
Tiger Global Management and Alpha Wave Global have led a USD 250m Series F round for India’s Moglix. It more than doubles the industrial B2B start-up’s valuation in the past eight months to USD 2.6bn.
Indonesia fishery app Aruna extends Series A to $65m
Indonesian fishing industry app Aruna has raised USD 30m led by Vertex Ventures Southeast Asia & India. It is described as an extension of a Series A round launched in mid-2020.
India smart devices producer Smartron raises $200m
Smartron, an India-focused smart devices brand backed by cricket legend Sachin Tendulkar, has received USD 200m in funding from Global Emerging Markets Group (GEM).
Potentia joins round for Australia construction tender platform
Australia’s Potentia Capital has joined a AUD 35m (USD 25m) round for local construction tender and procurement platform EstimateOne.
EQT exits Hong Kong ESG business Elevate
EQT has sold Elevate, a Hong Kong-based environment, social, and governance (ESG) and supply chain services provider it has backed since 2016, to LRQA, a larger peer in the assurance space.
Deal focus: Baring Asia completes Interplex turnaround
Refocusing on high-growth segments like electric vehicles – plus a smarter approach to sales and operations – underpinned Baring Private Equity Asia’s 4x return on engineering business Interplex
Baring Asia sells Interplex to Blackstone for $1.6b
Baring Private Equity Asia (BPEA) has sold Interplex, a Singapore-headquartered precision engineering business, to The Blackstone Group for an enterprise value of USD 1.6bn.
EverSource closes India climate impact fund on $741m
EverSource Capital has reached a final close of USD 741m on what is being called India’s largest climate impact fund.
Impact investors commit $60m to India agtech platform
Quona Capital, Lightrock India, and Asia Impact SA have co-led a USD 60m Series C round for Indian agriculture technology platform Arya.
Novo Tellus targets $111m Singapore SPAC
Novo Tellus Capital Partners, a Southeast Asia-based private equity firm that focuses on middle-market industrial technology opportunities, has filed to list a special purpose acquisition company (SPAC) in Singapore.
Indonesia's eFishery raises $90m Series C
Temasek Holdings, SoftBank Vision Fund 2, and Sequoia Capital India have co-led a USD 90m Series C round for Indonesian aquaculture technology start-up eFishery.
India's OfBusiness achieves $5b valuation with Series G
OfBusiness, an India-based B2B platform focused on industrial supply chain and procurement services, has raised $325 million in Series G funding at a valuation of $5 billion.
ADV backs Asia, North America flooring manufacturer
ADV Partners has acquired a significant minority interest in CFL Technologies, a flooring materials business with a presence in multiple locations in the US, China, and Vietnam.