M&A
Japan middle market: Going local
Private equity firms looking for an edge in Japan’s middle market are leveraging relationships with brokers and banks – including LPs in their funds – to access company founders in the hinterlands
Legal tech segment to see consolidation
Rapid growth in the legal tech segment globally will create M&A opportunities as the market consolidates, according to Dan Jansen, CEO of US-based specialist investor Nextlaw Ventures.
Southeast Asia buyouts: Flexibility first
Southeast Asia has yet to deliver a consistent stream of large-cap buyout deals. Private equity investors must be creative, flexible and patient in trying to crack the market
Southeast Asia exits: Greener pastures
Southeast Asia’s internal growth and rising appeal among global investors in recent years have fed expectations that PE and VC exits will follow. The logic is sturdy but detailed projections are elusive
Korea's CJ CheilJedang brings Bain into Schwan's deal
Korean consumer conglomerate CJ CheilJedang Corporation has agreed to sell a 27% stake in CJ Foods America – a vehicle established for the acquisition of US frozen foods provider Schwan’s – to Bain Capital for $320 million.
Vietnam inbound investment: Regional rivals
Strategic interest in Vietnam is growing, especially among companies within Asia looking to tap growth no longer available at home. PE investors see them as partners – and sometimes as competitors
Japanese strategic to buy Australia's Allied Pinnacle from PEP
Pacific Equity Partners (PEP) has exited Allied Pinnacle, an Australia-based roll-up of multiple bakery supply investments, to Japanese strategic Nisshin Foods.
China-US tensions: Foggy flashpoints
Rhetoric shaping the debate over China's ambitions to become the prime mover in global technology - and what the US could do in response - reflects the geopolitical significance of the issue. Private equity investors are not immune to its impact
Deal focus: Investcorp takes the plunge into India
With the acquisition of IDFC Alternatives' private equity and real estate businesses, Investcorp secured a ready-made India investment platform
Shenzhen Capital hits first close on debut M&A fund
Shenzhen Capital Group has reached a first close of RMB1.8 billion ($263 million) on its debut M&A fund. The vehicle has an overall target of RMB3.6 billion.
SGG acquires PE fund administrator Augentius
Private equity and real estate fund administrator Augentius has been acquired by SGG Group, an investor services provider to alternative asset managers, corporations, and high net worth families.
KKR-owned Calsonic Kansei agrees $7.1b bolt-on
Calsonic Kansei Corporation, a Japanese automotive components manufacturer acquired by KKR last year, has agreed to buy Fiat Chrysler Automobiles’ (FCA) components business for EUR6.2 billion ($7.1 billion).
China looks further afield for deals as US tensions mount - M&A Forum
The escalating Sino-US trade war and tighter US regulatory scrutiny of inbound deals has promoted Chinese buyers to pursue investments in new markets, but they must be prepared to overcome opposition in these destinations as well, the China M&A Forum...
China outbound deal structure: Risk factors
Many Chinese A-share companies have wholeheartedly pursued outbound acquisitions, sometimes bringing in local PE funds for support. But integrating the target into the listed vehicle can be problematic
China-Europe: A sense of uncertainty
Chinese interest in European assets – from industrial technology to consumer brands – is undimmed, but certain governments, as well as the EU itself, are taking steps to protect their crown jewels
Q&A: Eurazeo's Eddie Chen
Eurazeo is a publicly-listed French private equity firm, formed in 2001 through the merger of Eurafrance and Azeo. China head Eddie Chen explains why the GP opened a Shanghai office five years ago
GIC-backed Greenko makes add-on acquisitions
Greenko Energy, an Indian renewable energy producer owned by GIC Private, has completed the acquisition of Orange Renewables and agreed to buy Skeiron Green Renewables. The two deals will increase Greenko’s overall operational capacity from 3.2 gigawatts...
Deal focus: Hahn & Co agrees transformative bolt-on
Hahn & Company has followed up its bumper acquisition of Hanon Systems by supporting the company in the $1.23 billion carve-out of a division from Manga International. The deal should bring more balance - and synergies - to the Hanon portfolio
Hahn & Co-owned Hanon agrees $1.2b bolt-on acquisition
Hanon Systems, an auto parts manufacturer owned by Hahn & Company and formerly known as Halla Visteon Climate Control, has agreed a $1.23 billion bolt-on acquisition of Magna International’s fluid pressure and controls business.
Korea buyouts: Local edge
Private equity firms must double down on local networking, due diligence, and value-add capacity as competition for deals intensifies in the Korean buyout market
Korea macro: Tempered tiger
Korea’s economic momentum has simmered down as demographic, political and industrial evolutions suggest a structural decline. Investors are monitoring the transition with a conditional sense of optimism
CLSA buys Japan beauty salon chain
CLSA Capital Partners (CLSA CP) has agreed to acquire 100% of Japanese beauty salon operator Puzzle for an undisclosed sum via a bolt-on with industry counterpart Agu Group.
China facilities management: Cleaning up
Private equity investors are turning their attention to China’s outsourced facilities management market, recognizing the opportunities presented by under-penetration and fragmentation
Deal focus: China baby boom market comes of age
Warburg Pincus has acquired Chinese mother-and-baby company Leyou, providing an exit for CDIB Capital and The Carlyle Group. The deal signals a rapid maturation process in the segment