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Gulf Capital Acquires 100 Percent of Food and Beverage Distributor Multibrands Trading (MENA)
Middle East-focused alterative investment firm Gulf Capital has acquired 100 percent of Saudi Arabia-based food and beverage distribution company Multibrands Trading. Gulf Capital plans to grow the business through geographic diversification and product expansion. Financial details of the transaction were not disclosed. Read More
Morgan Stanley PE Asia Partially Exits AMTD to China Minsheng International and LR Capital (Asia)
Asia-Pacific-focused private equity investor Morgan Stanley Private Equity Asia (MSPEA) has partially exited Hong Kong-based financial advisor AMTD to China-based investment firms China Minsheng International and LR Capital Group. With Minsheng and LR Capital’s entry, MSPEA reduced its holding in AMTD to 9.9 percent, returning a reported US$94.2 million including dividends. MSPEA originally acquired a majority stake in the company… Read More
BlackPeak Capital & GlobeCap Investment Back Bulgaria-based Tour Operator Astral Holidays(CEE & CIS)
Bulgaria-focused growth private equity firm BlackPeak Capital and GlobeCap Investment, the Bulgarian subsidiary of Saudi Arabia-based investment firm ID Global, have acquired a minority stake in Bulgaria-based tour operator Astral Holidays International for a reported BGN2.5 million (approximately US$1.4 million). Astral plans to use the funding to develop its incoming, outgoing and corporate business segments, implement new technologies to modernize… Read More
Emerging Investment Partners Participates in US$17M Acquisition of Diamond Meat Processing (MENA)
MENA-focused private equity firm Emerging Investment Partners (EIP) has participated in the US$17 million acquisition of United Arab Emirates-based Diamond Meat Processing, a food producer that operates under the Almasa brand, from Dubai-based investment company Al Ghuarair Group. Other investors included Jordan-based meat producer Siniora Food Industries and several undisclosed investors. With support from the new investors, Almasa plans to… Read More
Nida Rooms Raises a US$4.2 Million Round from Convergence Ventures and CyberAgent Ventures (Asia)
Indonesia-based budget hotel aggregator Nida Rooms has raised US$4.2 million in a pre-Series A financing round from Indonesia-focused early-stage technology venture capital firm Convergence Ventures and internet services-focused investor CyberAgent Ventures. The company plans to use the new funds to expand its business in Indonesia and Southeast Asia. Read More
Enterprise Investors-backed X-Trade Brokers Completes an IPO on the Warsaw Stock Exchange(CEE & CIS)
European financial brokerage X-Trade Brokers (XTB) has completed an initial public offering (IPO) on the Warsaw Stock Exchange. Company founders reduced their stake from 80.8 percent to 66.8 percent in the offering, generating gross proceeds of EUR43 million (approximately US$49 million). Enterprise Investors, a Central and Eastern Europe-focused private equity firm and existing backer of XTB, did not dispose of… Read More
ICICI Venture Invests INR1.2 Billion in Anthea Aromatics (Asia)
India-focused private equity fund manager ICICI Venture has acquired a minority stake in Anthea Aromatics, an India-based manufacturer of chemical inputs for the food flavoring and fragrance industry, for INR1.2 billion (approximately US$18 million). The transaction was structured through India Advantage Fund Series 4. Anthea was founded in 1991 and operates four manufacturing facilities near Mumbai, producing a range of… Read More
8 Miles Acquires a Minority Stake in Verde Beef Processing (Sub-Saharan Africa)
Pan-African private equity firm 8 Miles has acquired a minority stake in Verde Beef Processing, an Ethiopia-based beef producer. With the new investment, the company plans to expand its base of 6,000 animals and build its own slaughterhouse and meat processing facility. Financial details of the transaction were not disclosed. Read More
Advent International Agrees to Acquire Agrochemical Manufacturer VIAKEM (Latin America)
Global private equity firm Advent International has agreed to acquire Mexico-based agrochemical manufacturer VIAKEM. Founded in 1938, VIAKEM manufactures crop protection chemicals for global agrochemical companies. Financial details of the transaction, which is expected to close in the third quarter of 2016, were not disclosed. Read More
Vantage Capital Provides NAD80M of Debenture Funding to United Africa Group (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital has provided a debenture facility of NAD80 million (approximately US$5.5 million) to Namibia-based hospitality and property company United Africa Group (UAG). The transaction was structured through Vantage Capital Fund III. UAG will use the funding to support its equity contribution to the construction of a new Hilton Garden Inn located in Windhoek, Namibia. Read More
Catalyst Principal Partners Invests in Orbit Chemical Industries (Sub-Saharan Africa)
East Africa-focused private equity firm Catalyst Principal Partners has invested in Kenya-based manufacturing company Orbit Chemical Industries. The investment was structured through Catalyst Fund I. Orbit Chemical—which manufactures a diversified line of household and personal care products, industrial chemicals and agro-chemicals—will use the new capital to increase the capacity of its existing lines, extend its products range and expand regionally.… Read More
IDFC and Micromax Lead a US$15 Million Funding Round for TranServ (Asia)
India-focused investment management firm IDFC Asset Management and India-based consumer electronics company Micromax Informatics have led a US$15 million Series C funding round for India-based digital payments company TranServ. Existing investors in the company, early-stage investor Nirvana Ventures and private equity firm Faering Capital, also participated in the round. IDFC’s investment was structured through IDFC SPICE Fund, while Faering’s investment… Read More