Industrials
Navis exits Australian oil and gas services provider
Navis Capital Partners has exited Callidus Process Solutions, an Australian industry valve maintenance specialist serving mining and oil and gas sites, to Pon Holdings Australia (PHA).
Japan's Chiyoda acquires PE-backed energy consultancy
Chiyoda Corp, a Japanese engineering contractor, has acquired a majority stake in Scottish energy consultancy business Xodus Group from UK private equity backer Simmons Parallel Private and Dutch investor Sunrise Xodus. Financial details were not disclosed.
Temasek’s portfolio expands to $169b with greater focus on energy
Temasek Holdings saw its portfolio grow to S$215 billion ($169 billion) for the year ended March 2013, up 8.6% from the preceding 12 months.
Actis exits Chinese kitchen equipment maker to US trade buyer
Actis has sold its stakes in Chinese commercial kitchen equipment maker Vesta to Illinois Tool Works (ITW), a US industrial equipment manufacturer. Terms of the transaction were not disclosed.
Sun Capital exits US-based ASB to Japan's Lixil
Sun Capital Partners has exited its stake in American Standard Brands (ASB), a US maker of bathroom and kitchen fixtures, to Japanese toilet manufacturer Lixil Corp. for $542 million. The deal values the 138 year-old firm at around $342 million and includes...
Warburg Pincus-backed India coal washery firm re-files for IPO
Warburg Pincus is set for a partial exit from ACB, a provider of coal beneficiation services, after the company re-filed a draft red herring prospectus (DRHP) for an IPO. It hopes to raise INR4.15 billion ($69.4 million).
ChrysCap exits Ahmednagar Forgings, buys Sequoia's Infotech stake
ChrysCapital Partners has exited Ahmednagar Forgings (AFL), a manufacturer of automotive components, for INR363 million ($6.07 million) through a series of bulk deals on the open market. The firm originally bought the stake for INR295 million in 2008.
SEAVI Advent reaches $125m first close on Fund VI
SEAVI Advent Private Equity, the Asian arm of Advent International, has reached a first close of $125 million on its six fund - SEAVI Advent Equity Fund VI. Commitments came from high net worth individuals, corporate institutions and family offices, while...
PE investor fails to oust Intrepid board over Indonesia mining dispute
Hong Kong-based PE firm Quantum Pacific Investment has failed in its attempt to remove the directors at Australia's Intrepid Mines after the company lost control of a key Indonesia mining asset.
Yageo shareholders block private equity deal
Shareholders of Taiwanese electronic components manufacturer Yageo Corporation have blocked a $1.65 billion private equity deal put forward by company management.
CHAMP, Headland seek to oust Miclyn directors
Headland Capital Partners and CHAMP Private Equity, majority shareholders of Miclyn Express Offshore, are looking to jettison two of the company's independent directors, saying the move would be in the interests of shareholders.
Morgan Stanley-backed Hyundai Rotem gets green light for IPO
Hyundai Rotem, a South Korean railway vehicle manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), has received approval to list on the Korea Stock Exchange. It will likely be the country’s largest share offering so far this year and the...
Oaktree Cap invests $20m Indian pharma packager
Oaktree Capital Management has bought a 60% stake in Cogent Glass for around INR1.2 billion ($20.6 million). As part of the deal, Cogent has signed an agreement with Oaktree portfolio company SGD for technology sharing as well as marketing and management...
Safety first: Investing in China's food supply chain
Driven by rising disposable incomes and lower confidence in food safety, Chinese consumers are willing to pay a premium for quality. PE firms have identified the opportunity, but taking it can be difficult
Navis plugs into Southeast Asia energy demand
Southeast Asia's hunger for energy cannot be overstated. Of the region’s 600 million inhabitants, a staggering 160 million live without electricity. According to a report published last year by the National University of Singapore’s Energy Studies...
Japan's Marubeni scales back deal for PE-owned Gavilon
Marubeni has scaled back its offer for General Atlantic-owned US grain trader Gavilon by $1 billion after cutting the company's energy trading arm out of the deal.
Korea’s STX Pan Ocean files for bankruptcy after PE rescue fails
STX Pan Ocean, South Korea’s largest bulk shipping group, has filed for court receivership after attempts to secure a private equity-led restructuring of the beleaguered business failed.
PE-backed TVS Logistics makes second bolt-on this year
TVS Logistics, an Indian supply chain manager backed by KKR and Goldman Sachs, has acquired US-based Wainwright Industries for INR500 million ($8.8 million).
Warburg sells stake in Havells India
Warburg Pincus has sold an 8.35% stake in electrical products maker Havells India for INR7.2 billion ($129.5 million) on the open market. The private equity firm sold 10.4 million shares at INR700 apiece, below the NR708 price at which the stock had been...
CITIC PE to launch offshore energy fund with Canadian asset manager
CITIC Private Equity has entered into a joint venture with Canadian asset manager Sprott to set up an offshore global resources fund. The vehicle fits in with China’s strategic interest in acquiring overseas energy assets required to sustain economic...
Indonesia’s MPM to boost auto rental exposure, preps IPO
Mitra Pinasthika Mustika (MPM), the Indonesian motorcycle distributor in which Affinity Equity Partners and Saratoga Capital invested around $100 million last year, is looking to boost its car rental business. The comes as the company prepares to raise...
China Development Bank to provide financing for PE, Weichai-backed Kion
China Development Bank will provide EUR500 million ($647 million) in financing to support the partnership between Weichai Power, a Chinese automotive and equipment manufacturer, and Kion, a German forklift truck maker backed by KKR and Goldman Sachs....
Sequoia backs Chinese vegetable producer MBO
Sequoia Capital has teamed up with the chairman and CEO of Chinese vegetable producer Le Gaga Holdings to submit a buyout offer that values the NASDAQ-listed company at around $183 million. Le Gaga has seen its net profit increase fourfold over the last...
SEAVI invests $17m in Indonesian port manager
SEAVI Advent Private Equity, the Asian arm of Advent International, has made a $17 million investment into Multicon Indrajaya Terminal, an Indonesian port depot manager.