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Multiples Alternate Asset Management Acquires Controlling Stake in Vikram Hospital (Asia)
Multiples Alternate Asset Management, a private equity firm specializing in mid- to late-stage equity investments, has acquired a controlling stake in India-based hospital chain Vikram Hospital for INR1.8 billion (approximately US$30.2 million) to INR1.9 billion (approximately US$31.9 million). As part of the transaction, Multiples bought ICICI Venture Funds Management’s 64 percent stake for a reported INR900 million (approximately US$15.1 million).… Read More
Baring India Invests in Manappuram Finance (Asia)
India-focused investment manager Baring Private Equity Partners India (Baring PE India) has acquired an additional one percent stake in Manappuram Finance, a non-banking financial company involved in gold finance that is listed on both the National Stock Exchange of India and the Bombay Stock Exchange, via open market transactions. Baring PE India started buying into the company in 2011, and… Read More
XSML Finances Expansion of Car Rental Services in Congo (Sub-Saharan Africa)
Emerging markets-focused private equity fund manager XSML has invested in Democratic Republic of the Congo-based Dalio, a car rental service provider that operates under the AVIS brand. Dalio intends to use the new financing for expansion plans in Kinshasa and Lubumbashi. Financial details of the transaction, which was structured through XSML’s Central Africa SME Fund (CASF), were not disclosed. Read More
SinDelantal.Mx Raises EUR2.5 Million from Seaya Ventures (Latin America)
Spanish venture capital fund Seaya Ventures has invested EUR2.5 million (approximately US$3.8 million) in SinDelantal.Mx, a Mexico-based online food delivery platform. Working with 1,000 restaurants in Mexico City, the company receives over 10,000 orders per month, and intends to use the financing to continue its growth. Read More
H.I.G. Capital Completes Investment in Brazilian Ice Cream Company Creme Mel (Latin America)
Global private investment firm H.I.G. Capital’s affiliate H.I.G. Brazil has invested in Creme Mel Sorvetes (Creme Mel), a Brazil-based ice cream company. Creme Mel has over 900 employees and sells ice cream in nine Brazilian states. H.I.G.’s investment will allow Creme Mel to construct a new plant and expand its production capacity. Financial details of the transaction were not disclosed. Read More
Amethis Finance Completes Investment in Ivorian Distributor of Oil and Gas Products (Sub-Saharan Africa)
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, has acquired a 39 percent stake in PetroIvoire, a Côte d’Ivoire-based distributor of oil and gas products. With the new financing, Petrolvoire intends to extend its reach in Côte d’Ivoire and take advantage of regional expansion opportunities. Financial details of the transaction were not disclosed. Read More
Pátria Investimentos Sells Down CPFL Energias Renováveis Stake in IPO (Latin America)
CPFL Energias Renováveis, a South American wind farm operator that is backed by alternative investment manager Pátria Investimentos, has completed an initial public offering on the BM&FBOVESPA, raising BRL900 million (approximately US$404 million). Existing shareholders, including Pátria Investimentos, sold 43.96 million shares in a secondary offering. The company intends to use the financing to fund new projects, including solar-powered plants. Read More
Da Vinci Acquires Russian Debt Collection Agency (CEE and CIS)
Da Vinci Capital, an independent asset manager focusing on mid-market private equity investments in Russia and the Commonwealth of Independent States, has acquired a significant minority stake in Russia-based debt collection agency First Collection Bureau from the company’s founders. Da Vinci Capital will join existing private equity investor Baring Vostok. Financial details of the transaction, which was structured through Da… Read More
Da Vinci Acquires Russian Debt Collection Agency (CEE and CIS)
Da Vinci Capital, an independent asset manager focusing on mid-market private equity investments in Russia and the Commonwealth of Independent States, has acquired a significant minority stake in Russia-based debt collection agency First Collection Bureau from the company’s founders. Da Vinci Capital will join existing private equity investor Baring Vostok. Financial details of the transaction, which was structured through Da… Read More
Blackstone to Buy Indian Auto Parts Maker Agile Electric (Asia)
Global investment and advisory firm The Blackstone Group (Blackstone) has agreed to buy a 98 percent stake in India-based automobile parts maker Agile Electric Sub Assembly (Agile Electric) for INR3.32 billion (approximately US$56 million). The transaction prompts Blackstone to make a tender offer for a 26 percent stake in Agile Electric’s locally listed venture Igarashi Motors, a developer and producer… Read More
IL&FS Exits Machine Tool Manufacturer for 2.91x Return (Asia)
India-focused private equity fund manager IL&FS Investment Managers Limited (IIML) has exited its 19.3 percent stake in Bharat Fritz Werner (BFW), a tool manufacturing company with facilities in India and Germany, for INR711.9 million (approximately US$11.8 million). IIML has reportedly generated an internal rate of return of 15 percent and a multiple of 2.91x on its 2005 INR245 million (approximately… Read More
The Abraaj Group Backs Tunisian Plastic Injection Company PEC (MENA)
Global growth markets investor The Abraaj Group has backed Tunisia-based Plastic Electromechanic Company (PEC), a plastic injection company that serves clients in the automotive, electrical and healthcare industries. The investment will allow PEC to expand further into Europe and the Middle East, launch new products and make acquisitions. Financial details of the transaction were not disclosed. Read More