Industrials
China flexible display developer Royole raises $58m
Royole Corporation, a China-based flexible display technology developer, has received RMB400 million ($58 million) in Series D funding from a domestic GP Beijing Zhongtai Chuanghui Equity Investment Fund.
One Belt One Road: Critical mass
One Belt One Road aims to recast two continents’ worth of disconnected developing markets as a global economic nucleus. It is a geopolitical watershed with deep and complex investment potential
PAG set for $1.4b privatization of Yingde Gases
Chinese industrial gases supplier Yingde Gases is scheduled to be delisted in September after shareholders voted in favor of a buyout offer from PAG Asia Capital that values the company at approximately HK$11.3 billion ($1.45 billion).
Hony ups stake in Australia’s Santos
Chinese private equity firm Hony Capital has invested A$184.3 million ($136.8 million) to increase its minority stake in Australia-listed oil and gas supplier Santos.
DBAG sells Romaco Group to Chinese strategic
German PE firm Deutsche Beteiligungs AG (DBAG) has agree to sell its entire stake in packaging and processing technology specialist Romaco Group to China-based mechanical engineering company Truking Group.
CRCI, Chinese strategic agree $595m carve-out of Bosch unit
China Renaissance Capital Investment (CRCI) and Chinese industrial group Zhengzhou Coal Mining Machinery (ZMJ) have agreed to buy a starter and generator (SG) manufacturing business from German engineering multinational Robert Bosch for EUR545 ($595 million).
Allegro acquires Australian resources sector contractor
Allegro Funds Group has acquired a controlling stake in Terrex Seismic, an Australia-based services provider for the oil and gas, minerals and government geoscience research industries.
Advantage closes fifth Japan fund at $535m
Advantage Partners has reached a final close on its fifth Japan-focused mid-market buyout fund at the hard cap of JPY60 billion ($535 million).
HQ exits vehicle parts supplier to Japan’s Hitachi Chemical
HQ Equita, a Germany-based mid-market buyout firm controlled by HQ Capital, has agreed the sale of transportation industry supplier Isolite to Japan’s Hitachi Chemical.
Navis buys New Zealand egg producer Mainland Poultry
Navis Capital Partners has agreed to buy a majority stake in New Zealand-based egg producer Mainland Poultry. The size of the deal was not disclosed but local media reports put it at NZ$300-350 million ($207-242 million).
KKR, JIP seek $2.3b buyout of Japan's Hitachi Kokusai Electric
KKR has announced its third tender offer for a Japanese company in six months, teaming up with Japan Industrial Partners (JIP) and Hitachi on a JPY257.1 billion ($2.3 billion) bid for Hitachi Kokusai Electric.
New Horizon acquires Japan firefighting business
New Horizon Capital has agreed to acquire the firefighting equipment business of Japanese manufacturing firm IHI Shibaura Machinery Corporation (ISM).
CITIC Capital to exit Japanese chemicals manufacturer
CITIC Capital has agreed to exit 100% of Japanese chemicals manufacturer Polymatech to two domestic strategics.
IMM commits $266m to Korean shipbuilder
IMM Investment has agreed to invest KRW300 billion ($266 million) in Korean shipbuilder Hyundai Samho Heavy Industries (HSHI).
KKR exits India's Dalmia Bharat for $238m
KKR has sold its entire stake in Indian conglomerate Dalmia Bharat (DBL) for INR15.3 billion ($238 million).
Creador exits India’s Somany Ceramics for $50m
South and Southeast Asia-focused mid-market GP Creador has fully exited its investment in Indian tile maker Somany Ceramics for INR3.26 billion ($50.4 million).
India's PE-backed Capacite files for $62m IPO
Capacite Infraprojects, an Indian construction firm backed by Paragon Partners and NewQuest Capital Partners, has filed for a INR4 billion ($62 million) IPO.
Japan's Kobe Steel buys Quintus from Milestone
US private equity firm Milestone Partners has exited its controlling stake in Sweden and US-based industrial equipment company Quintus Technologies to Japan’s Kobe Steel.
China semiconductor fund to buy Xcerra for $580m
Sino IC Capital, a technology-focused private equity fund manager backed by the Chinese government, has agreed to acquire US semiconductor and electronics manufacturer Xcerra in a deal that values the company at about $580 million.
Indonesia resources: Storms and blue sky
Indonesia’s resources sector has proven a socially and politically tumultuous investment environment in recent years. GPs are monitoring the headline issues and maintaining long-term confidence
WL Ross backs joint venture to acquire China steel assets
WL Ross & Co, the private equity firm founded by recently appointed US Commerce Secretary Wilbur Ross, has announced its first China investment in over five years, backing a joint venture to acquire steel industry assets in the country.
China’s first One Belt One Road project secures $1.4b facility
Pakistan’s Karot hydroelectric power project has secured a $1.4 billion facility from a group of Chinese investors and the International Finance Corporation (IFC). It is considered the first infrastructure deal under China’s One Belt One Road initiative.
HgCapital invests $25m in New Zealand's Gentrack
HgCapital has agreed to invest NZ35.5 million ($25 million) in New Zealand industrial software specialist Gentrack to support an acquisition and expansion process in the UK.
CDB, Sino IC Capital commit $22b to Tsinghua Unigroup
Tsinghua Unigroup, which is controlled by an investment arm of Tsinghua University, has secured RMB150 billion ($22 billion) financing from two government-backed investors - China Development Bank (CDB) and Sino IC Capital.