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African Capital Alliance, 8 Miles and DEG Invest in Nigeria-based Beloxxi (Sub-Saharan Africa)
West Africa-focused investment firm African Capital Alliance, Africa-focused private equity firm 8 Miles and development finance institution DEG have invested US$80 million for a minority stake in Nigeria-based biscuit manufacturer Beloxxi. DEG invested US$10 million in the round. The company will use the new capital to expand its capacity and grow its regional distribution presence. Read More
Kleoss Capital Acquires Minority Stake in Real Foods (Sub-Saharan Africa)
South Africa-focused private equity fund manager Kleoss Capital has acquired a minority stake in South Africa-based multi-brand food group Real Foods. Kleoss Capital invested through Kleoss Capital Fund I. Real Foods will use the new capital to execute its acquisition strategy in the natural foods industry. Financial details of the transaction were undisclosed. Read More
ICICI Venture Partially Exits TeamLease via INR1 Billion Share Sale (Asia)
India-focused private equity fund manager ICICI Venture has completed a partial exit of National Stock Exchange-listed recruitment and human resources company TeamLease, selling a block of 910,000 shares for INR1 billion (approximately US$15 million). ICICI Venture originally invested in TeamLease through India Advantage Fund Series 3. After the share sale, ICICI Venture continues to hold around 112,000 shares in TeamLease. Read More
Advent International Agrees to Acquire Brazil-based Fortbras Group (Latin America)
Global private equity firm Advent International has agreed to acquire Brazil-based auto parts distributor Fortbras Group through its Latin American Private Equity Fund VI. The transaction, which is subject to regulatory approval and customary closing conditions, is expected to be completed in the third quarter of 2016. Financial terms of the transaction were not disclosed. Read More
IFC, IFC AMC Invest BRL125 Million in Aegea Saneamento e Participações (Latin America)
Development finance institution International Finance Corporation (IFC) and IFC Asset Management Company (IFC AMC), a wholly-owned subsidiary of IFC, have invested BRL125 million (approximately US$40 million) in Brazil-based water supply and wastewater treatment company Aegea Saneamento e Participações. Each investor contributed BRL62.5 million (approximately US$20 million), with IFC AMC investing through its Global Infrastructure Fund. Read More
Wamda Capital Leads US$5 Million Financing Round for Kharabeesh (MENA)
MENA-focused venture capital firm Wamda Capital has led a US$5 million financing round for Jordan-based online media producer Kharabeesh. Endeavor Catalyst, the philanthropically-funded co-investment vehicle of global investment and entrepreneurship network Endeavor, and seed investor DASH Ventures also participated in the round. Kharabeesh will use the new capital to expand in Dubai, Jeddah and Riyadh and develop its technology. Read More
Rockwood Private Equity Agrees to Sell Its Stake in Safripol (Sub-Saharan Africa)
South Africa-focused fund manager Rockwood Private Equity has agreed to sell its stake in South Africa-based polypropylene and high-density polyethylene manufacturer Safripol as part of a ZAR4.1 billion (approximately US$307 million) acquisition by Johannesburg-listed conglomerate KAP Industrial Holdings. The management of Safripol and South Africa-based investment holding company Thebe Investment Corporation will also sell their stakes. Rockwood Private Equity originally… Read More
The Carlyle Group Sell 45 Percent of CVC Brasil Operadora e Agência de Viagens (Latin America)
Global alternative asset manager The Carlyle Group and individual investor Guilherme Paulus have sold a combined 45 percent stake in Brazil-based travel agency CVC Brasil Operadora e Agência de Viagens via a secondary offering with restricted distribution on the BM&FBOVESPA. Carlyle and Paulus, who co-founded CVC in 1972, sold 60 million shares returning BRL1.23 billion (approximately US$391 million). After the… Read More
BPE Partners and Daikin Europe Establish Daikin Air Conditioning Egypt (MENA)
Egypt-focused private equity fund manager BPE Partners has partnered with Daikin Europe, a wholly-owned subsidiary of Japan-based air conditioning equipment manufacturer Daikin Industries, to establish Daikin Air Conditioning Egypt. The subsidiary, which began operations in August 2016, will focus on expanding Daikin’s business within Egypt, as well as the broader Middle East and Africa region. Financial details of the transaction… Read More
Formation Group Leads US$66 Million Series C Round for Memebox (Asia)
Venture capital firm Formation Group has led a US$66 million Series C round for South Korea-based beauty products e-commerce company Memebox. Early-stage investors Goodwater Capital and Pejman Mar Ventures also participated in the round. Memebox will use the new capital to expand globally. Read More
CDIB Capital Invests CNY200 Million in Tutwo Outdoor (Asia)
CDIB Capital, the international private equity arm of China Development Financial, has invested CNY200 million (approximately US$30 million) in China-based outdoor sporting goods retail platform Tutwo Outdoor. CDIB Capital invested through CDIB Capital Asia Partners. Established in 2006, Tutwo operates more than 900 stores across China. Read More
EAIF Provides US$20 Million Debt Financing to Helios Towers Africa (Sub-Saharan Africa)
The Emerging Africa Infrastructure Fund (EAIF), a joint public and private investment fund owned by the Private Infrastructure Development Group and managed by Investec Asset Management, has provided US$20 million to telecommunications infrastructure platform Helios Towers Africa (HTA) as part of a syndicated loan totaling US$105 million. HTA will use the loan to purchase 950 telecom towers in the Democratic… Read More