Industrials
CHAMP in $192m take-private bid for Gerard Lighting
CHAMP Private Equity has launched a A$186 million ($192 million) takeover bid for Australian light fittings distributor Gerard Lighting Group. The bid has won unanimous approval from Gerard’s board and the Gerard family, which has a 52% stake, has said...
PE-backed Whitehaven Coal receives $5.5b takeover bid
Private equity firms First Reserve and Farallon Capital have reportedly expressed their support for a A$5.3 billion ($5.46 billion) takeover bid for their portfolio company Whitehaven Coal. Coal magnate Nathan Tinkler last Friday offered A$5.20 per share...
Titan considers stake sale as Warburg takes legal action
Titan Petrochemicals, the Hong Kong-listed shipping and oil storage firm, is in talks to sell a controlling stake to an unnamed third-party investor. The announcement comes as the company faces a winding up lawsuit filed by Warburg Pincus.
Unison launches $104m offer for South Korea’s Nexcon
Japanese private equity firm Unison Capital has launched a KRW119.8 billion ($104 million) tender offer for Nexcon Technology, a manufacturer of products for lithium-ion secondary batteries.
GSR Ventures leads $84m round in Protean Electric
GSR Ventures has led an $84 million funding round in US-based Protean Electric, a developer of in-wheel electric drive systems. The capital will be used to set up manufacturing facilities in Liyang, Jiangsu province, bringing Protean's electric drive...
OTPP, Unitas target PE-owned Infastech – report
Ontario Teachers’ Pension Plan (OTPP) and Unitas Capital have reportedly teamed up to bid for Singapore-based industrial fasteners manufacturer Infastech, currently owned by CVC Capital and Standard Chartered Private Equity (SCPE). The deal could be...
Carlyle exits Sinorgchem to China’s Sinochem
The Carlyle Group has exited its holding in rubber additives producer Jiangsu Sinorgchem Technology through a trade sale to Sinochem International, the overseas arm of the Chinese state-owned chemicals company. This is one of a series of transactions...
AIF invests in Southeast Asian consumer packaging firm
AIF Capital has completed a $40 million investment in Pacific Plas, one of the largest participants in Southeast Asia’s resin distribution and consumer packaging markets. AIF is the first private equity investor in the Singapore-based family-owned company.
Sprint Capital backs Australian coal miner
Sprint Capital has invested A$36 million ($36.4 million) for a 25% stake in Australian mining company Stanmore Coal. Capital from the Hong Kong-based private equity firm, which specializes in mining and natural resources sector transactions, will go towards...
CNEI secures 9.4x return on partial exit from Liyuan Aluminum
China New Enterprise Investment (CNEI) has completed a partial exit from Jilin Liyuan Aluminum, one of the country’s leading aluminum extrusion product manufacturers, securing a 9.4x gross return.
KKR puts Bis Industries on the block
KKR has put its mining services and logistics business Bis Industries on the block. The Australian company has been valued at around $1.8 billion including debt.
Blackstone suspends payments to Visa Power – report
The Blackstone Group is said to have deferred payments on its $111 million investment in Visa Power after the Indian company failed to meet certain targets set out in the deal.
KKR funds $22m Air Works bolt-on
KKR has provided Air Works India Engineering with INR1.2 billion ($22 million) of structured debt financing to help fund its acquisition of Dubai-based private aviation specialist Empire Aviation Group (EAG).
PE firms consider bid for Australian packaging firm – report
The Blackstone Group, KKR and The Carlyle Group are said to be in talks with banks over a bid for Australian packaging company Pact. The deal could value the firm at as much as $1.4 billion.
Temasek buys stake in Asia-focused Ivanhoe Mines
Temasek Holdings has purchased a 5.5% stake in Canada’s Ivanhoe Mines, a move seen as part of ongoing efforts to increase the natural resources share of its portfolio. The transaction was channeled through Tembusu Capital, a private equity firm affiliated...
Qantas appoints Macquarie to defend against PE bids
Qantas Airways has hired Macquarie Group to set up an internal team “to advise on the defense against potential private equity bids,” a company spokesman has confirmed. The news prompted an 11% spike in the airline’s share price to A$1.08 during...
Carlyle, Apollo miss out as Brambles cancels $2b asset sale
ASX-listed Brambles has announced that it has canceled it plans to raise cash by selling Recall, its information management business. The 10-month process was called to a halt because of low offers from potential buyers, which included a number of private...
Hawkesbridge backs Colemans
Australian private equity firm Hawkesbridge has acquired a stake in Australian fencing infrastructure firm the Colemans Group.
Unitas mulls buyout of PE-backed Infastech - report
Pan-Asia buyout fund Unitas Capital has expressed interest in bidding for Singapore-based Infastech, which has been put on the block by CVC Capital Partners and Standard Chartered Private Equity (SCPE).
Energy investing: Keeping Asia’s lights on
North American PE firms have become established oil and gas investors. Asian GPs are only just coming around to the idea, but the long-term potential is huge – provided you hire the right management
Reliance Capital backs kitchen appliance manufacturer
Reliance Capital has acquired a 13.71% stake in Butterfly Gandhimathi Appliances for INR1 billion ($18 million) via its Reliance Alternative Investments Fund.
Goldman Sachs invests in Alok Industries, CORE Education
Goldman Sachs has invested in Indian real estate asset Alok Industries and education solutions provider CORE Education & Technologies through two PIPE transactions.
Private equity firms target $500m for Myanmar investments
Leopard Capital and Cube Capital are among the Asian private equity firms looking to raise nearly $500 million for investments in Myanmar. It is hoped that the removal of trade sanctions imposed on the Southeast Asian nation will create opportunities...
Lazard-backed Hastie Group enters administration
Hastie Group, the Australian engineering company backed by Lazard, has entered into voluntary administration after recapitalization talks failed. It comes after recapitalization talks failed due to “accounting irregularities” led to a profits charge...