Trade sale
Quadrant sells Australia pet care business for $192m
Quadrant Private Equity will exit Australian pet supplies business City Farmers after veterinary services provider Greencross agreed to buy the company for A$205 million ($192 million).
China VCs cautious on strategic capital – AVCJ Forum
Trade sales to Chinese internet giants represent an alternative exit route for traditional venture capital players, but buyers must have a clear roadmap for developing the portfolio companies, VC investors told the AVCJ China Forum.
3i exits auto parts firm to Chinese buyer, nets 2x return
3i has sold Hilite International, a German suppler of auto engine and transmission parts, to China's AVIC Electromechanical Systems for EUR473 million ($643.8 million), generating a 2.1x return.
Accel-backed India medical advisory service bought by Ebix
Healthcare Magic, an India-based medical advisory service that won early backing from Accel Partners, has been acquired by NASDAQ-listed on-demand software and e-commerce services provider Ebix.
Apax benefits from Bright Food’s ambition
Apax Partners' 6x return on its investment in Israel-based Tnuva Food Industries has been hard earned.
Apax sells Israeli food company to China's Bright Food
Apax Partners has agreed to sell a 56% stake in Israel-based Tnuva Food Industries to Bright Food Group as the Chinese company continues to expand its business overseas.
Qihoo 360 buys VC-backed MediaV
Chinese antivirus software company Qihoo 360 Technology has bought a controlling stake in MediaV, a VC-backed advertising and digital marketing company.
Ventureast exits India's Bioserve to Cancer Genetics
US biotech firm Cancer Genetics has acquired India's BioServe Biotechnologies for around $1.9 million, paving an exit for early-stage investor Ventureast.
Fosun expresses interest in Australia’s Healthscope – report
Fosun Group has highlighted the China growth potential of private equity-owned Australian hospital operator Healthscope, prompting speculation it might bid for the asset.
Lazard exits Australian auto parts business Midas to Metcash
Lazard Private Equity has exited Australian automotive parts retailer Midas to Metcash, which owns brands including IGA supermarkets and Lucky 7 convenience stores, as well as a string of liquor, hardware and automotive businesses.
EQT to sell Taiwan cable TV network to Formosa Plastics
EQT Partners will sell Taiwanese cable TV network Gala Television Corp. to domestic conglomerate Formosa Plastics Group.
Australia's Gresham PE exits freight business to McAleese
Silk Logistics Group, which is owned by Australian GP Gresham Private Equity’s portfolio, has sold its last operating division, WA Freight Group (WAFG), to McAleese for A$15.4 million.
Asia PE fundraising slows to $6.6b in first quarter
Asia private equity fundraising came to $6.6 billion in the first quarter of 2014, according to provisional data released by AVCJ Research, down from $9.7 billion in the final three months of 2013.
EQT plans to exit Taiwan cable TV unit
EQT Partners intends to exit its investment in Taiwan cable TV network Gala TV (GTV) for a reported NT$6 billion ($200 million).
Taiwan's Hon Hai in talks to buy MBK-owned cable TV network – report
Hon Hai Precision Industry, a Taiwanese electronics manufacturer best known as Foxconn, is said to be in talks with MBK Partners to buy China Network Systems (CNS).
A tale of two markets
“The IPO market around the world is inherently a cyclical entity and it is unwise and unrealistic to expect it to always be open,” H. Chin Chou, CEO of Morgan Stanley PE Asia, told an AVCJ webinar last year. “At some point the market will come back...
PEP, Unitas file counter claim over Independent Liquor sale
Pacific Equity Partners (PEP) and Unitas Capital have filed a cross claim against two senior Asahi executives in Australasia regarding their involvement in the Japanese company’s purchase of Independent Liquor from the private equity firms in 2011.
Bayer buys Legend Capital-backed Dihon Pharma
Bayer has agreed to buy Dihon Pharmaceutical Group, a manufacturer of herbal traditional Chinese medicines (TCM). The acquisition facilitates the exit of Legend Capital, an investor in Dihon since 2010.
Baring Asia exits Indonesian aviation services provider
Baring Private Equity Asia has sold its 41.65% stake in air freight and passenger services provider Cardig Aero Services (CAS) to Singapore Airport Terminal Services (SATS) for IDR1.1 billion ($93.5 million). The PE firm invested approximately $41 million...
Quadrant exits Australia, New Zealand home equity release assets
Quadrant Private Equity has agreed to sell Seniors Money International’s (SMI) New Zealand and Australian home equity release mortgage businesses to New Zealand’s Heartland Bank for NZ$87 million ($72.8 million).
China’s Sungy Mobile buys VC-backed app store Getjar
Sungy Mobile, a VC-backed Chinese app developer that went public on NASDAQ last year, has acquired GetJar, a US-based mobile ad network. GetJar previously raised three rounds of VC funding, two led by Accel Partners and the third led by Tiger Global.
GE, SAC exit Taiwan’s Cosmos Bank
GE Capital and SAC Capital will exit Taiwan’s Cosmos Bank to domestic financial services conglomerate China Development Financial Holding Corp. The announcement of the NT$23.1 billion ($762.4 million) deal, which was priced below market value, saw Cosmos...
Catalyst completes cool exit
Throughout last year's election campaign, Australian Prime Minister Tony Abbott pledged to repeal the country’s carbon tax on taking office. Five months on, he has yet to do it and the debate rumbles on as to whether the drop in emissions – 0.3% for...
Australia's Catalyst secures $245m Actrol trade sale
Catalyst Investment Managers has exited Actrol Group, a components and systems supplier to the heating, ventilation and refrigeration industry, to Reece Australia for A$280 million ($245 million).