Industrials
SCPE makes second investment in PepsiCo's South Asian bottler
Standard Chartered Private Equity (SCPE) has invested a further INR1.7 billion ($32 million) in Varun Beverages (VBIL), the largest bottler for PepsiCo in South Asia.
Blackstone pays $100m for minority stake in International Tractors
The Blackstone Group has committed $100 million for a 12.5% stake in India's International Tractors (ITL). The capital will be used to expand production and pursue overseas acquisitions.
Oaktree exits aircraft leasing firm to Japan’s Mitsubishi UFJ
Oaktree Capital Group has sold aircraft leasing firm Jackson Square Aviation to Japan’s Mitsubishi UFJ Lease & Finance Co. for JPY100 billion ($1.3 billion).
Next-backed Hirepool in talks to buy Tasman Capital-owned HireQuip - report
Hirepool, the New Zealand rental equipment specialist owned by Australian private equity firm Next Capital, is reportedly in exclusive talks to purchase its indebted rival, HireQuip, which is owned by Sydney-based Tasman Capital.
Australia’s CHAMP PE secures $206m Southeast Asia deal
CHAMP Private Equity has acquired a significant minority stake in shipping services provider Miclyn Express Offshore (MEO) from Macquarie Capital Group for around A$199 million ($206 million). It represents another step in the Australian GP’s strategy...
Carlyle Japan in Walbro Engine Management SBO
The Carlyle Group has wholly acquired Walbro Engine Management, a US-based small engine parts manufacturer, from global investment firm Sun Capital Partners via a secondary buyout. The deal was structured through Carlyle Japan Partners II.
Carlyle-backed Tsubaki Nakashima drops IPO plan
Tsubaki Nakashima, a Japanese steel ball-bearings maker 95% owned by The Carlyle Group, has called off plans for a $555 million IPO, citing weak market conditions. This is the second time in six months that a Carlyle portfolio company in Japan has tried...
Orix named preferred bidder for Korea’s STX Energy
Japan’s Orix Corp. has been selected as the preferred bidder for a significant stake in STX Energy, an unlisted affiliate of South Korean conglomerate STX Group.
INCJ-led consortium may thwart KKR’s Renesas pledge
Japanese state-sponsored fund Innovation Network Corp of Japan (INCJ) has formed a consortium with several local companies, which is said to be mulling making an offer of more than JPY100 billion ($1.3 billion) for the unprofitable Tokyo-listed chipmaker,...
Carlyle’s General Lighting completes Malaysia acquisition
General Lighting (GLC), a Saudi Arabia-based portfolio company of The Carlyle Group, has agreed to buy Davex, Malaysia’s largest lighting fixtures manufacturer and supplier, for MYR183 million ($60 million). The company sees the acquisition as a platform...
Chinese bidder to buy PE-backed KraussMaffei – report
A Chinese machinery group is reportedly in exclusive talks with US-based Madison Capital to buy its German rival KraussMaffei Technologies. The deal - which is likely to fetch as much as EUR700 million ($908 million) - would be the latest in a string...
CVCI achieves 2x return on Chinfon Vietnam exit
Citi Venture Capital International (CVCI) has achieved a return of 2x on its exit from Chinfon Vietnam, after holding the company for four years.
Northstar, GIC in $200m Indonesian oil deal
Northstar Pacific Partners and Government of Singapore Investment Corporate (GIC) have reportedly invested $200 million in Triputra Agro Persada, an Indonesia oil producer. It isn’t the first time the two have co-invested in natural resources deal,...
IFC, Mount Kellett back India’s Jain Irrigation Systems
International Finance Corporation (IFC) and Mount Kellett Capital Management are part of a group that has agreed to invest around INR11 billion ($200 million) in Jain Irrigation Systems. The company, which manufactures drip and sprinkler systems as well...
Blackstone commits $44m to Indian fragrance maker
The Blackstone Group has paid INR2.43 billion ($43.69 million) for a 33% stake in SH Kelkar & Company (SHK), India's largest fragrance and flavor company.
Shandong Heavy invests $922m in PE-backed Kion
Weichai Power, a Chinese automotive and equipment manufacturer owned by Shandong Heavy Industry, will invest EUR738 million ($922 million) in Kion, the German forklift truckmaker backed by KKR and Goldman Sachs. It is the largest Chinese direct investment...
Mandarin, Hony to support Zoomlion spin-off
Mandarin Capital Partners will team up with Hony Capital to finance the spin-off of Chinese construction equipment manufacturer Zoomlion's sanitation machinery business. It is one of two deals - together worth around EUR100 million ($125 million) - that...
Bain, KKR target 30% stake in Lanco power business - report
Bain Capital and KKR are reportedly in discussions with Lanco Infratech to buy a 30% stake in its power projects. Lanco has been trying to raise around $750 million in equity since the start of the year.
Hellman & Friedman sells Goodman to Japan’s Daikin
US-based private equity firm Hellman & Friedman has sold its air conditioner maker, Goodman Global, to its Japanese rival, Daikin, for $3.7 billion.
Renesas shares spike on report of KKR investment
Shares in Japan’s Renesas Electronics Corp. have soared to their highest level in almost three months after it was reported that KKR will invest JPY100 billion ($1.3 billion) in the company.
SCPE scores proprietary cryogenic storage deal
A captive private equity firm has a number of advantages. Fundraising is never an issue, there is an abundance of manpower and the parent’s contacts can be leveraged for deal origination purposes.
Actis backs Chinese kitchen equipment designer
Emerging markets private equity firm Actis has invested in Vesta, a major Chinese commercial kitchen equipment company.
Warburg Pincus sets up JV to restructure Titan Petrochemicals
Warburg Pincus affiliate Saturn Petrochemical and SouthernPec Corporation have formed a joint venture to restructure portfolio company Titan Petrochemicals Group. It comes after China's Guangdong Zhenrong Energy made a HK$175 million ($22.57 million)...
KKR sells Unisteel to Swiss trade buyer
KKR has sold its Singapore-based disk drive components and assemblies manufacturer, Unisteel Technology, to Swiss trade buyer SFS intec, a unit of SFS Group.