Industrials
Tata-backed Varroc files for India IPO
Varroc Engineering, an Indian auto component manufacturer owned by the Varroc Group, has filed for an IPO that will see its private equity backer Tata Capital exit the bulk of its holding.
EMR Capital, Adaro agree $2.25b deal for Rio Tinto mine
Natural resources-focused GP EMR Capital and Indonesian energy firm Adaro Energy have agreed to buy an Australia coal mine owned by mining company Rio Tinto for $2.25 billion.
Q&A: IMM Private Equity’s Joseph Lee
IMM Private Equity’s Joseph Lee discusses the new sectors taking focus away from Korea’s traditional manufacturers, along with the potential for tender offers, IPOs and secondary sales in the market
Carlyle exits Asia containership joint venture
The Carlyle Group has fully exited Greater China Intermodal Investments (GCI), its Asia-focused containership-building joint venture with US-based Seaspan Corporation.
Delos Capital buys India's Sage Metals
US-based private equity firm Delos Capital has acquired Indian specialty metal products manufacturer Sage Metals for an undisclosed amount.
Australia invests $12m in domestic agtech ecosystem
The state government of Victoria in Australia has confirmed a plan to invest A$15 million ($12 million) in the local agricultural technology sector.
TPG secures partial exit from Australian poultry player
TPG Capital has made a partial exit from Inghams Group, the Australian poultry producer it acquired in 2013 and took public in November 2016.
Hong Kong's EmergeVest makes UK logistics acquisition
Hong Kong-based EmergeVest – a PE firm established by former executives from HSBC’s Asia principal investments division – has made its seventh logistics acquisition in the UK with the purchase of CM Downton for GBP75 million ($103 million).
Toyota launches $2.8b car technology investment program
Toyota Group has confirmed it will establish a Tokyo-based investment program that will commit more than JPY300 billion ($2.8 billion) to autonomous driving development.
Tokio Marine exits Japanese machinery parts maker
Tokio Marine Capital has agreed to sell its entire stake in Tonichi Kosan, a Japanese manufacturer of parts used in construction and agricultural machinery, to machinery wholesaler Wakita & Co.
Cathay Capital to acquire German auto parts supplier
Cathay Capital Private Equity, a cross-border PE firm focusing on China, Europe and the US, has agreed to acquire a majority stake in German auto-parts maker E. Winkemann from Equistone Partners Europe.
Warburg Pincus establishes Vietnam infrastructure platform
Warburg Pincus and industrial conglomerate Becamex IDC have agreed to set up a $200 million platform to develop institutional-grade infrastructure and logistics properties in Vietnam.
VC-backed Chinese wearables maker seals $110m US IPO
Huami, a Chinese wearables manufacturer that has a strategic relationship with smart phone maker Xiaomi and several venture capital backers, has raised $110 million in its US IPO.
GLP, China Life establish $1.6b China logistics fund
GLP, a Singapore-headquartered warehouse operator formerly known as Global Logistic Properties that was acquired by a PE consortium last year, has established a RMB10 billion ($1.6 billion) China fund with China Life Insurance as the sole LP.
Advantech, Redview target $1.5b for China deals
Advantech Capital and Redview Capital – parallel entities formed following the restructuring of Chinese GP New Horizon Capital – are seeking a combined $1.5 billion for their latest funds.
Deal focus: Navis thinks long, goes fast with MFS
Navis Capital Partners sees MFS Technology - the first exit from its seventh fund - as the initial manifestation of a strategy that takes a long-term view on a target industry's development but focuses on rapid implementation of value creation plans
Quadria-backed Capricorn files for India IPO
India-based food processing company Capricorn Food Products has filed for an IPO that will provide a partial exit for private equity backer Quadria Capital.
Warburg Pincus abandons Tata Technologies investment
Warburg Pincus has called off a planned $360 million investment in Tata Technologies, the engineering outsourcing and product development IT services arm of Indian conglomerate Tata Group.
ACE Equity buys Korean electric machinery maker
ACE Equity Partners, a Korean private equity firm established last year by former SkyLake Investment executive David Ko, has purchased a 100% interest in Woojin Electric Machinery for approximately $200 million.
Japan's Polaris to buy Fujitsu mobile phone unit
Japanese middle market GP Polaris Capital has agreed its second corporate carve-out in three months with a deal to buy Fujitsu’s mobile devices business.
Partners Group nets 3.2x on Japan Solar through Equis Energy sale
Partners Group has confirmed a 3.2x return on its investment in Japan Solar as part of a previously announced larger Asia energy acquisition by Global Investment Partners (GIP).
COPE exits Malaysia-based Serba Dinamik with 8.9x return
COPE Private Equity, previously known as CMS Opus Private Equity, has completed its exit from Malaysian oil and gas services provider Serba Dinamik Holdings with a gross 8.9x money multiple and a 79.2% IRR.
Affinity buys Trimco from Partners Group for $520m
Affinity Equity Partners has bought Hong Kong-based garment label manufacturer Trimco from Partners Group for $520 million.
Japan's J-Star announces trio of investments
Japan’s J-Star has continued the rapid deployment of its third fund, securing buyouts across the lifestyle retail, recycling, and fire safety equipment manufacturing spaces.