Industrials
Hahn & Co. buys Korean cement firm out of bankruptcy
One of the standout PE investment trends in Korea is taking ownership of assets from second-tier conglomerates that have run into difficulty and are forced to divest non-core assets. MBK Partners acquired Kumho Rent-A-Car in this fashion and it was also...
Hong Kong’s ADM buys stake in Prista Oil
ADM Capital and the European Bank for Reconstruction and Development (EBRD) have provided EUR48 million ($62 million) of replacement capital for a 30% stake in Bulgaria’s Prista Oil Group.
Navis sees 10x return on Trimco exit
There is always a danger that private equity investors will fall in love with certain portfolio companies and never want to exit. Navis Capital Partners came close with Trimco International Holdings. The Malaysia-based PE player took a controlling stake...
RRJ, Temasek invest $468m in US natural gas company
Asia-focused private equity firm RRJ Capital and Temasek Holdings have invested $468 million in US-based liquefied natural gas (LNG) company Cheniere Energy.
Navis exits label manufacturer Trimco to Partners Group
Navis Capital Partners has sold its majority stake in Trimco International Holdings to Partners Group. The size of the deal was not disclosed but the combination of exit proceeds and dividends received over a seven-year holding period will leave Navis...
PEP finally seals $752m Spotless buyout
Australian cleaning and catering contractor Spotless Group has accepted an A$720 million ($752 million) buyout offer from Pacific Equity Partners (PEP). The total consideration of A$2.71 per share is higher than the private equity firm’s original bid...
KKR, Goldman back Indian logistics provider
Ford Motors sold nearly 100,000 cars in India last year and a further 22,000 units manufactured in the country were exported overseas. Every single component that went into each vehicle was handled by TVS Logistics.
KKR, Goldman invest $53m in India’s TVS Logistics
KKR has agreed to invest $47 million in TVS Logistics, an Indian supply chain manager that services the auto, distribution, electronics and component manufacturing industries. As part of the transaction, existing investor Goldman Sachs will inject a further...
Navis’ Adampak takeover offer now unconditional
Navis Capital Partners has announced that its S$110.7 million ($87.9 million) takeover offer for Singapore-listed Adampak has become unconditional, making its proposed acquisition of the label company almost guaranteed.
Carlyle-backed AvanStrate nixes IPO again - report
AvanStrate, the Japanese LCD glass manufacturer owned by The Carlyle Group, appears to have called off its plans for a $266 million initial public offering for the second time in a year.
Frontline Strategy backs India railways supplier
Frontline Strategy’s India Industrial Growth Fund (IIGF) has committed $9 million to DTL Ancillaries, a Pune-based company that manufactures components used in the rail and automotive industries. The investment is structured in two tranches, the first...
CHAMP Private Equity exits IES to McAleese Group
CHAMP Private Equity has sold International Energy Services (IES), a logistics firm that specializes in the transportation of fuel products and hazardous chemicals, to McAleese Group. It is further confirmation of trade sales as the preferred exit channel...
Sino-Forest’s major shareholder proposes restructuring plan
The largest shareholder in Sino-Forest has proposed a restructuring plan for the Chinese forestry company following last week’s board announcement that a Canadian court had granted protection from creditors as it looked into sale options.
India Agri Business Fund backs Super Agri Seeds
Rabo Equity Advisors’ India Agri Business Fund has committed INR500 million ($9.8 million) to Super Agri Seeds for a significant minority stake. It is the fund’s eighth investment and the first in a seeds company.
OCBC subscribes to Tonglin Precision Parts bond
Singapore-based OCBC Bank, the second largest financial group Southeast Asia, has subscribed to a convertible bond issued by China’s Tonglin Precision Parts (TPP) via its mezzanine arm.
Shaw Kwei completes second Singapore take-private in two months
Greater China and Southeast Asia-focused private equity firm Shaw Kwei & Partners has completed the privatization and delisting of CHT, the largest global PVC adhesive tape manufacturer. It is Shaw Kwei’s second Singapore take-private deal in two months.
MSPE Asia secures its largest ever Asia deal
Supporting domestic companies keen to expand into overseas markets has become a core element of most PE investors’ China strategies. Morgan Stanley Private Equity (MSPE) Asia found the prospect of working on such efforts with Tianhe Chemicals Group...
Buffett-backed NetJets forms China JV with local PE players
NetJets, a private aviation company owned by Warren Buffett’s Berkshire Hathaway, will form a China joint venture with local private equity players Hony Capital and Fung Investments. It is seen as a move to tap the growing demand for private jet management...
KNOC backs Apollo-led purchase of US oil assets
Korea National Oil Corp. (KNOC) will join a consortium led by Apollo Global Management that has agreed to buy US-based El Paso’s oil and gas exploration business for $7.15 billion. The assets are being sold by Kinder Morgan as part of its $21 billion...
MSPE Asia invests $300m in China’s Tianhe Chemicals
Morgan Stanley Private Equity Asia (MSPE Asia) has invested $300 million in China’s Tianhe Chemicals Group and created a strategic partnership with the specialty chemicals company in order to aid its expansion overseas. It is the largest single investment...
Carlyle reinitiates AvanStrate IPO
The Carlyle Group has re-initiated proceedings to list Japanese LCD glass manufacturer AvanStrate, thanks to improved stock market conditions in Japan.
Subsea backs NZ mining project
Subsea Investments II, a private equity fund backed by US-based LPs, will invest up to $7 million for shares issued by NZAX-listed Chatham Rock Phosphate (CRP).
Craftsman Automation seeks $20m from PE investors
Coimbatore-based auto component manufacturer Craftsman Automation is in talks with private equity investors to raise a corpus worth between INR850 million and INRI billion.
IFC backs Saratoga-led investment in power producer
International Finance Corp. (IFC), the World Bank’s investment arm, has paid up to $25 million for an 11% stake in Indonesian electricity producer Medco Power International (MPI). It is part of a $112 million investment by a Saratoga Capital-led consortium...