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Warburg Pincus Leads US$100 Million Series D Round for Yunniao (Asia)
Global private equity firm Warburg Pincus has led a US$100 million Series D round for Yunniao.me, a China-based online-to-offline courier service. Existing investors Matrix Partners and GSR Ventures also participated in the round. Yunniao plans to use the new capital for technology development, service quality improvement and geographic expansion. Read More
Lighthouse Funds Sells Unibic Foods to Peepul Capital (Asia)
India-focused private equity fund manager Lighthouse Funds has fully exited its stake in cookies maker Unibic Foods India to India-focused private equity firm Peepul Capital. Peepul, which was a majority shareholder in the company prior to the transaction, increased its stake in the company to 97.6 percent through the investment. Lighthouse originally invested in Unibic Foods in 2007 through India… Read More
Gávea Exits Hermes Pardini via IPO (Latin America)
Brazil-focused private equity firm Gávea Investimentos sold shares worth BRL690 million (approximately US$221 million) in Brazil-based medical laboratory Instituto Hermes Pardini in the company’s IPO on Novo Mercado, a segment of BM&F BOVESPA. Gávea originally acquired a 30 percent stake in the company in 2011 through GIF IV. Read More
Development Partners International Exits CAL Bank to Arise (Sub-Saharan Africa)
Africa-focused private equity firm Development Partners International (DPI) has sold its 27.7 percent stake in Ghana-listed CAL Bank to Arise, a financial services investment company backed by major shareholders are development finance institutions Norfund and FMO and financial services group Rabobank. DPI originally invested in CAL Bank in 2012 through African Development Partners I. The sale is expected to be… Read More
Mid Europa Sells Alpha Medical to Unilabs (CEE and CIS)
Central and Eastern Europe-focused private equity firm Mid Europa Partners has agreed to sell Slovakia-based laboratory testing services company Alpha Medical to Unilabs, a Switzerland-based diagnostic services company backed by private equity firm Apax Partners. Mid Europa originally acquired a 100 percent stake in Alpha Medical in October 2012 through Mid Europa Fund III. The transaction, which is subject to… Read More
PAG and Meridian Capital Invest US$225 Million in Food Union Group (CEE and CIS)
Food Union Group, a Latvia-based group of dairy and ice cream producing companies, has raised EUR214 million (approximately US$225 million) from Asia-focused alternative investment management firm PAG and private equity investment group Meridian Capital, an existing shareholder in the company. PAG invested EUR161.6 million (approximately US$170 million), while Meridian invested EUR52.4 million (approximately US$55 million). With PAG and Meridian’s support,… Read More
B Capital Group and EDBI Lead Series B Round for CXA Group (Asia)
Venture capital firm B Capital Group and EDBI, the corporate investment arm of Singapore Economic Development Board, have led a Series B round of US$25 million for Singapore-based health technology startup CXA Group. Netherlands-based technology company Philips and RGAx, a subsidiary of Reinsurance Group of America, also participated in the round. CXA plans to use the new capital to support… Read More
Investec Bank Leads US$19.5 Million Round for Trax Image Recognition (Asia)
Investec Bank has led a US$19.5 million round for Singapore-based Trax Image Recognition. Trax has developed a computer vision platform that turns retail shelf images into real-time insights for manufacturers and retailers. The company plans to use the funds to expand its global operations with a focus on products and services for retailers. Read More
ShawKwei & Partners to Sell YongLe Tape to Avery Dennison for US$190 Million (Asia)
United States-listed packaging materials company Avery Dennison has agreed to acquire China-based YongLe Tape Company, a manufacturer of specialty tapes and related products, from Asia-focused private equity fund manager ShawKwei & Partners and the company’s management for US$190 million. The purchase price is subject to customary adjustments, including additional earn-outs of up to US$55 million, contingent on performance targets over… Read More
Stellaris Venture Partners Holds US$50 Million First Close for Maiden Fund (Asia)
India-focused venture capital firm Stellaris Venture Partners has held a first close for its maiden fund with US$50 million in capital commitments. Investors in the fund include software services company Infosys, as well as financial institutions, corporate investors, entrepreneurs and family offices in the United States, Europe and Asia. The fund, which is targeting US$100 million in total commitments, will… Read More
AIIM Acquires 60 Percent Stake in DSM Corridor Group (Sub-Saharan Africa)
African Infrastructure Investment Managers (AIIM), a member of Old Mutual Alternative Investments, has acquired a 60 percent effective interest in Tanzania-based dry bulk terminal operator DSM Corridor Group Tanzania (DCG). AIIM invested through strategic holding company African Ports and Corridors Holdings, which will facilitate the acquisition of further terminals and other corridor expansions in the region. Financial details of the… Read More
The Carlyle Group Acquires Minority Interest in FS (Latin America)
Global alternative asset manager The Carlyle Group has acquired a minority stake in Brazil-based FS, a technology solutions provider active in digital security, cloud services, insurance, specialized technical support, mobile learning and interactive services. Carlyle invested through Carlyle South America Buyout Fund and Carlyle Peru Fund. Financial terms of the transaction, which was completed in December 2016, were not disclosed. Read More