automobiles
Goldman to raise up to $315m in Geely Auto sell down
Goldman Sachs Principal Investment Area, an investment unit of Goldman Sachs, plans to sell-down its entire stake in Hong Kong-listed Geely Automobile Holdings, raising up to HK$2.44 billion ($315 million).
Sequoia leads Series B round for China second-hand car platform
Sequoia Capital led a Series B round of investment for Souche Holdings, an online second-hand car trading platform. Existing backers Morningside Technologies and Ferry Venture Capital also participated.
TPG-backed China Grand Auto plans $500m Hong Kong IPO – report
TPG Capital-backed China Grand Automotive Group reportedly plans to raise at least $500 million through a Hong Kong IPO early next year.
Car Clubs enters the fast lane
Bicycles are thje kings of the road in Hangzhou. Following a program that was successfully introduced in Paris, the city in China's Zhejiang province has made a stock of about 66,500 bicycles available for hire. Journeys begin at one of 2,700 stations...
Clearlake Capital buys Australia-based auto interiors firm
Clearlake Capital Group, the Los Angeles-headquartered PE firm, has made its first investment in Australia, buying Elders’ automotive business for A$69 million ($62 million), including debt. The divestment allows Elders to become a pure-play rural and...
Blackstone to acquire India’s Agile Electric Works for $110m
The Blackstone Group has agreed to buy a majority stake in Indian auto parts maker Agile Electric Sub-assembly Limited (AESPL) and its listed subsidiary Igarashi Motors India(IMIL) for $110 million.
Fatfish acquires 65% of Indonesian auto insurance portal RajaPremi
Singapore-based tech investor Fatfish Internet has acquired Indonesian car insurance price comparison site RajaPremi.com, marking its first foray into the country. Financial details of the deal were not disclosed.
J-Star, supply chain fund back Tokai Trim
Japanese mid-cap buyout firm J-Star has joined the Supply Chain Support Fund (SCSF) - a vehicle backed Japan Auto Parts Industries Association and Development Bank of Japan (DBJ) - in investing around JPY1-2billion ($10-20 million) in auto parts firm...
CVCI invests $56m in Indian automotive parts maker
Citi Venture Capital International (CVCI) has invested INR3.4 billion ($56.48 million) in automotive and aerospace component maker Sansera Engineering for a “substantial” stake, the firm said.
China’s Sailing Capital supports $400m round for Mobileye
China’s Sailing Capital participated in a $400 million round of funding round for Mobileye, a Netherlands-based operator of driver assistance systems, valuing the company at about $1.5 billion. It is one of five investors that will between them own...
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).
CITIC, CDH exit early days China SOE buyout
Two facts worth noting about Chinese private equity: first, there is almost always a willing strategic buyer for a well positioned domestic business; second, the vast majority of PE investments are for minority stakes so if the entrepreneur has set his...
CITIC, CDH generate 4x return through China auto parts exit
CITIC Capital Partners and CDH Investments Management have exited Chinese auto components manufacturer Nanjing Aotecar to a domestic buyer. According to sources familiar with the transaction, CITIC has secured an approximately 4x money multiple on an...
Unitas sees 3x return on Australia auto parts turnaround
Unitas Capital has secured a 3.3x return on its investment in Australian car parts supplier Exego, after selling the business to US-based Genuine Parts in two tranches worth a combined $950 million, including debt. The private equity firm was unable to...
Unitas to complete $800m Exego exit to Genuine Parts
Unitas Capital will complete its exit from Australian car parts supplier Exego in April through an $800 million sale, including debt, to Genuine Parts.
HIG Capital sells Anvis to Japan's Tokai Rubber
HIG Capital has sold German car parts maker Anvis to Japan's Tokai Rubber Industries for EUR132 million ($177.91 million). Financial terms of the deal were not undisclosed.
PE-backed Amtek sells 5% stake in subsidiary
Auto component maker Amtek Auto, which is backed by Warburg Pincus and ChrysCapital, has sold a 5% stake in its subsidiary Amtek Crankshafts (India) to an unnamed foreign investor for INR223 million ($4.1 million).
Buyout firms chase Warburg’s Alliance Tire stake - report
Private equity investors are said to be eying Alliance Tire Group after Warburg Pincus put a 70% stake in the Indian tire manufacturer on the block. Should the transaction go through, the price is likely to exceed $500 million, making it one of India’s...
Wanxiang-backed fund exits D&R to strategic buyer
Summit Strategic Investments, a private equity fund controlled by Chinese auto parts manufacturer Wanxiang Group, has exited US-based D&R Technology to CTS Corporation.
Affinity secures first Indonesia deal
Regional buyout firms have struggled to gain traction in Indonesia. In some cases, private equity investors have opened offices in Jakarta or Singapore and, years later, still haven’t a deal to their name. Affinity Equity Partners is no longer part...
Affinity completes debut Indonesia deal
Affinity Equity Partners has completed its first Indonesian investment, securing a significant minority stake in local auto services group Mitra Pinasthika Mustika (MPM) for about $100 million.
China Baoxin Auto to buy PE-backed NCGA for $305m
Hong Kong-listed China Baoxin Auto has agreed to pay $305 million for NCGA Holdings, a Beijing-based high-end car dealership owned by the Citigroup, Apollo Global Management and Pangaea One.
Warburg Pincus in China car hire play
Two months ago, China Auto Rental was preparing to list on NASDAQ. The car hire provider set a target of $138 million for what would be only the second IPO by a Chinese company in the US this year. The experiences of the first did not bode well: VC-backed...
Warburg Pincus commits $200m to China Auto Rental
Warburg Pincus has invested $200 million in China Auto Rental, said to be the country’s largest car rental network in terms of revenue. It is the largest equity financing the industry has seen since Legend Holdings made a RMB1 billion strategic investment...