June 2016

FOOD & BEVERAGE

Dairy

Private Equity Firm, KKR INDIA (IN) will be investing 90 M in KWALITY LTD (IN).

The largest dairy firm in India will receive the funds via structured debt assets and will use them to solidify its brand and expand its retail business. Of late, KKR has made USD 3 B worth of investments in India and are continuously looking for growth opportunities.

6 June 2016 / Livemint.com

S J BARGH GROUP (UK) a logistics firm that engages in milk distribution acquires transportation company R G BASSETT & SONS (UK)

The acquisition will add 100 employees to their headcount, an 11 acre site as well as warehousing and training services. BASSETTS will still operate as a standalone brand but benefit from a wider distribution network and services. Details of the deal were not disclosed.

14 June 2016 / Dairy Reporter

American Private Equity firm TPG GROWTH acquires 40% of ONE NETWORK BANK (ONB) (PH)

TPG, will now work together with the incumbent owner BDO, to hasten ONB’s growth. TPG’s expertise in financial services, in developing markets will kick off new product developments in that direction. The collaborative partnership aims to strengthen ONB’s current foundation and improve financial inclusion in the region. Details of the transaction were not disclosed.

20 June 2016 / Business Wire

ITOCHU LOGISTICS CORPORATION (JP) acquires 5% of Chemical Distributor LAUTAN LUAS (ID)

The acquisition will allow for LAUTAN LUAS to support its chemical distribution business by providing end-to-end logistics solutions to their customers. Apart from that, LAUTAN LUAS will also be expanding to the water treatment and IT solutions businesses to spur growth in the future. Details of the transaction were not disclosed.

22 June 2016 / Deal Street Asia


Food

CREMICA FOOD INDUSTRIES LTD (IN) raises USD 15 M for aggressive expansion plans

The food product company that generated USD 30 M of revenue in FY2015, raised USD 15 M from RABO EQUITY ADVISORS PVT LTD (IN). They have projected sales to hit USD 150 M and the expansion of their distribution networks to grow from 40,000 to 120,000 outlets by 2020.

1 June 2016 / VCCIRCLE

Private Equity Group, PACIFIC EQUITY PARTNERS (AU), acquires PATTIES FOOD LTD for USD 167 M.

The sale of the Aussie Food Company to PACIFIC EQUITY PARTNERS (PEP), included an equity alterative for the benefit of their shareholders. The take over was on the backdrop of poor performing profits due to a false product recall. The price per share on PATTIES FOOD was AUD 1.65 per share, reflecting a 24% premium.

EV/EBITDA: 6.7x
EV/SALES: 0.7x

4 June 2016 / ABC.NET

AirAsia (MY) acquires 80% stake in T&CO COFFEE (MY)

AirAsia will acquire for USD 225 K and will use T&Co to improve its in-flight menu for their passengers. AirAsia would now take a more dominant role in T&Co’s development to raise premiums and margins for their products.

28 June 2016 / The Star Online

Singaporean Hospitality Company SONG FAR BAK KUT TEH raises funds via NEW UNION (SG)

SONG FA will now be one of the few companies that have used crowdfinancing platforms such as NEW UNION to raise funds. The USD 370 K raised will be channeled into the idea of expanding outlets both in and around Singapore as well us the upgrading of their Supply Chain IT to improve efficiency.

28 June 2016 / Yahoo News

HEALTH & BEAUTY

Healthcare

BLACKSTONE, TPG, TEMASEK PLANS TO ACQUIRE KIM’S HOSPITAL CHAIN (IND)

ASCENT CAPITAL & ORBIMED ADVISORS will sell their combined 40% stake, while promoters will dilute an additional 15-20% for a deal worth USD 300 M. ROTHSCHILD is advising the exiting PE investors in KIMS. The investors have shortlisted 8-10 PE funds, and discussions are expected to begin in a month’s time.

2 March 2016 / Reuters

ENGINEERING & CLEANTECH

Renewable Energy

METRO PACIFIC INVESTMENTS CORP (PH) buys 25% of BEACON ELECTRIC ASSET HOLDINGS (PH) for USD 540 M

PLDT, a communications and energy venture firm, and MPIC currently owns equal share of BEACON ELECTRIC. The funds collected by PLDT after the sale of the investment vehicle will pay a portion of the acquisition of SAN MIGUEL CORP (SMC)

31 May 2016 / PhilStar Global

DEMETER CORPORATION, DCORP (TH) will spend USD 15.36 M to purchase 40% stake in 2 power plants

The power plants that are located in the Philippines will help DCORP meet the volume requirements outlined in their Memorandum of Understanding (MoU). DCORP is underway to diversify its Core Media Business into renewable energy and have existing Joint Ventures with solar power manufacturing giant, YINGLI GREEN ENERGY HOLDING CO (TH) .

3 June 2016 / Deal Street Asia

Filipino Investment company METRO PACIFIC INVESTMENTS COR (MPIC) acquires 65% of ECO-SYSTEMS TECHNOLOGIES INTNERNATIONAL INC (ESTI) for USD 39 M

The acquisition of the environmental technology solution provider will give MPIC the entry into the wastewater treatment business. Currently, ESTI services major property developers and is the market leader in the Filipino wastewater industry, giving MPIC the front foot into the industry.

17 June 2016 / Deal Street Asia

Power Sector investors CLP INDIA PTE LTD buys 49% of SUZLON ENERGY (IN)

CLP INDIA took their first step into the solar energy sector with an USD 11 M purchase of the solar wind unit of SUZLON ENERGY. CLP will look to acquire the remaining 51% after a year of operations as per the power purchase agreement (PPA).

20 June 2016 / Economic Times


Engineering & Construction

Gold exploration, mining and production ANCHOR RESOURCES (SG) acquires GCT MANUFACTURING (MY)

For a deal of USD 78 M, ANCHOR aims to diversify their revenue streams and acquire various concession areas for mining as well as granite cutting facilities from GCT. Anchor is also looking to diversify its services into the granite and stone business to create more value for their customers.

28 June 2016 / The Edge Markets

Thai Tile maker, THE UNION MOSAIC INDUSTRY PCL (UMI) sells 10.6% of THE ROYAL CERAMIC INDUSTRY PCL (RCI) for USD 2.76 M

Funds raised will be used by UMI to ramp up its capacity and meet working capital demands. This was instigated by poor financial performance by RCI, reporting a net loss of USD 2 M last year.

EV/EBITDA: 0.7x

3 June 2016 / Deal Street Asia

HDFC ERGO GENERAL INSURANCE CO LTD (DE) will acquire L&T GENERAL INSURANCE CO LTD (IN) for USD 82 M

L&T GENERAL INSURANCE is part of India’s largest engineering and construction company. The acquisition will allow for L&T GENERAL INSURANCE to leave this non-core business segment behind. The move was done to pare its debt and reignite its performance by focusing on the higher profit generating segments.

4 June 2016 / ECONOMIC TIMES

EXCEL CROP CARE (IN) has received and open offer by SUMITOMO CHEMICAL GROUP (JP) of an additional 30% stake for USD 63 M.

This acquisition is part of SUMITOMO CHEMICAL’s plan to have 75% of EXCEL CROP CARE’s shares. Being the 5th largest in revenue in India, the agrochemical company will provide a strong stepping-stone for SUMITOMO CHEMICALS business and distribution channels.

6 June 2016 / Economic Times

OLAM INTERNATIONAL (SG) acquires the final 50% of ACACIA INVESTMENTS (SG)

The Edible Oils Refining and Distribution Company will now be a wholly owned subsidiary of the Agribusiness Conglomerate, OLAM INTERNATIONAL. The USD 24 M transaction is against the backdrop of high growth potential in the crude palm oil (CAGR 7.5%).

6 June 2016 / Business Times

OLAM INTERNATIONAL (SG) acquires ALABAMA’s Brooks Peanut Co (Brooks) for USD 85 M

The acquisition of the peanut shelter is the second of its kind after the 2014 acquisition of McCleskey Mills Inc (US). The Singapore Listed Agri-Business company plans to integrate direct farm procurement into their supply chain.

Est. EV/SALES: 4.3x

8 June 2016 / Reuters

Indian Crop protection, chemical and seeds company UPL LIMITED acquires 26% of WEATHER RISK MANAGEMENT SERVICES (IN) for USD 1.5 M

WRMS will now be able to assist UPL’s core services in precision fanning and other farming solutions. UPL would also be able to synergise WRMS’ technological platforms to foster stronger relationships with their customers.

15 June 2015 / Economic Times

Japanese Logistics giant NIPPON EXPRESS to buy 43% of TVS LOGSITICS SERVICES (IN).

Valuing TVS LOGISTICS at USD 570 M, the deal will be priced in at USD 245 M. In a strategic move to increase its clout in South Asia, NIPPON EXPRESS plans to solidify its presence in India, the region’s largest economy.

15 June 2016 / LiveMint

Indian electronic giant CENTUM ELECTRONIC buys 51% stake in ADETEL GROUP (FR)

Engaged in services like Defence and Aerospace, the acquisition will allow CENTUM ELECTRONICS to grow in the geographical regions familiar to ADETEL. Furthermore, they will also be able to tap on the advanced technology ADETEL has developed to accelerate their growth.

18 June 2016 / Economic times

iGROW (ID) secures funds for international expansion

The Indonesia crop investment platform will use the funds led by EAST VENTURES and 500 STARTUPS to expand to Turkey and Japan. Currently iGROW are in discussions with strategic investors in Japan as well as taking advantage of the benevolent conditions in Turkey. Details of the transaction were not disclosed.

24 June 2016 / Tech In Asia

MIDEA GROUP acquires Italian air conditioner maker CLIVET SpA

China’s biggest appliance manufacturer will acquire 80% of CLIVET SpA. Though details of the transaction were not disclosed, it is expected that it would be completed by this year. The acquisition would create synergies in their products, market presence, supply chain and manufacturing.

24 June 2016 / Bloomberg


Telecommunications

PLDT (PH) and GLOBE TELECOM INC (PH) each acquired 50% of SAN MIGUEL CORP (PH)

The two telecommunications companies acquired SMC’s diversified conglomerate’s telco’s asset, in efforts to improve their services in their competitive landscape, as more foreign companies enter the market. The deals were made via a Sales and Purchase Agreement.

EV: USD 1.5 B

30 May 2016 / Deal Street Asia

Singapore’s sovereign wealth fund GIC will be acquiring Telecoms group EIR (IE) for USD 3.7 B

The largest telecommunications provider in Ireland reported revenue of USD 1.5 B and earnings of USD 544 M for FY2015 after coming out of its bankruptcy in 2012. Many expect this acquisition by the GIC to be a pre-IPO financing round, given that the profitability of its landline, mobile and nascent TV services are coming around.

EV/SALES: 2.5x

10 June / Straits Times

VOCUS COMMUNICATIONS (AUS) buys NEXTGEN NETWORKS for market share

In a deal worth USD 640 M, VOCUS (Rev FY2015: 20 M) intends to capture a larger market share and narrow the gap between market leader TELSTRA CORP. The telecom’s company will acquire NEXTGEN’s networks, which includes 17,000 KM of cables to build a fully integrated network in multiple cities.

29 June 2016 / Australian Financial Review

NEW TECH

E-commerce

Data Analytics Venture, LYNX ANALYTICS (SG) raises the largest amount of Series A funding in Southeast Asia.

After being valued at USD 66 M, LYNX managed to secure USD 10 M from strategic investors that were not disclosed. These investors have deep understanding and knowledge of the market and will take a minority stake in LYNX

1 June 2016 / Deal Street Asia

Moscow based Venture Capital Funds raised funds for Adtech Startup LOCOMIZER (UK)

Looking across borders for opportunities, IMPULSE VC and PHYSTECH VENTURES raised USD 300 K for the British Startup. The Biotech Startup will use the investment to operating its ‘Data-as-a-Serivce” across multiple verticals. It currently already operates in EU, Japan and the US.

3 June 2016 / East-West Digital News

GARENA’s SHOPEE (SG) takes off on a long-term collaboration with National Courier POS MALAYSIA

The Ecommerce subsidiary of Southeast Asia’s largest Internet Company has teamed up with POS MALAYSIA to provide free shipping to their customers. The temporary initiative and introduction of the logistic arm by POS MALAYSIA has generated exponential sales growth for SHOPEE.

2 June 2016 / Deal Street Asia

SARINE TECHNOLOGIES (SG) acquires DiaMining for USD 1.2 M

The precision technology specialists will acquire the point of sale (POS) application created by DiaMining to increase the efficiency of its Inventory Management System. The acquisition will also allow SARINE TECHNOLOGIES to be active in the diamond, gemstone and jewellery industry.

6 June 2016 / The Edge Markets

BITAUTO HOLDINGS LTD (CN) secures USD 300 M, led by giants like BAIDU, TENCENT and JD.COM

BITAUTO HOLDINGS, the online automobile giant, secured majority of the money from PA GRAND OPPORTUNITY LIMITED. Other Tech/eCommerce giants joined the fund raising as strategic partners to ride on the promising future developments of BITAUTO.

6 June 2016 / Tech Crunch

AdTech Company EBIZU SDN BHD (MY), managed to secure USD 3 M from Singaporean Investors.

The money raised from undisclosed members of the Singaporean community will be used for its regional expansion plans. Specialising in Retail Advertising and location solutions, EBIZU has already expanded within the SEA region, servicing 1,900 retail outlets and targeting to reach 5,000 end 2016.

8 June 2016 / Deal Street Asia

Australian HR solutions and screening firm SterlingBackcheck (BACKTRACK) has acquired similar business, RISQ GROUP (APAC).

After the acquisition of EmployeeScreenIQ and merger with TalentWise, BACKTRACK will now acquire RISQ to claim a larger share of the market. All companies involved with BACKTRACK provide background screening and Human capital solutions. Details of the acquisition were not disclosed.

6 June 2016 / Yahoo Finance

US Equity fund STRIPES GROUP leads with USD 50 M in funding for entertainment ticketing company BIGTREE ENTERTAINTMENT PVT.LTD (IN)

BIGTREE ENTERTAINMENT secured USD 75 M with funds coming from SAIF PARTNERS, ACCEL PARTNERS and NETWORK18 MEDIA as well. The funds will be channeled to diversity its services in the online ticketing industry.

9 June 2016 / Live Mint

Singapore based Online Car Marketplace, CARRO, secured USD 5.3 M in funding.

VENTURRA CAPITAL, SINGTEL INNOV8, GOLDEN GATE VENTURES, ALPHA JWC, SKYSTAR VENTURES and GMO VENTURES are all significant contributors to the funds raised. CARRO has had 30% MoM growth rate since its launch and the extra funds will be used to expand into the SEA region to hit their target gross merchandise run rate of ~USD 75 M by the end of the year.

13 June 2016 / Vulcan Post

TRAX an Israeli tech firm secures USD 40 M in Series C funding.

After the investment led by TEMASEK backed BROAD PEAK INVESTMENT ADVISERS, the retail image recognition platform brings the total funds raised to USD 78 M. The company has turned its attention to North America and intends to further develop its services by adding a new product line.

8 June 2016 / TechinAsia

VANITEE (SG), an online booking platform for beauty services acquires beauty salon e-directory MEFITTED (SG) for USD 500 K

VANITEE intends to strengthen their mobile platform features and B2B solutions to improve their business. Alongside plans to expand across Asia, VANITEE are in the works of developing an end-to-end system to facilitate its business operations.

6 June 2016 / TechinAsia

SORACOM (JP) an Internet of Things (IoT) tech firm raises USD 5.7 M to spark off global expansion.

Led by PE fund PAVILION CAPITAL, the provider of network and telecom infrastructure will channel these funds into establishing a subsidiary in Singapore. Together with the USD 22 M raised last month from WORLD INNOVATION LAB and INFINITY VENTURE PARTNERS, SORACOM aims to expand its reach, globally.

16 June 2016 / TECHINASIA

SaaS company LOGICMONITOR (US) secured USD 130 M to fund its expansion into Asia

The software monitors data centers (both physically and their cloud systems) and alerts businesses for possible problems. The funds, led by PROVIDENCE STRATEGIC GROWTH, will be used for R&D and marketing into APAC. LOGICMONITOR intends to establish a strong foothold in APAC before the eventual goal of an IPO.

16 June 2016 / Tech Crunch

Property developers STARLAND HOLDINGS (SG) acquires fintech firm AYONDO HOLDINGS AG (DE) for USD 117 M

AYONDO is a social trading and brokerage service provider and was formerly listed on the Berne Stock Exchange. STARLAND aims to achieve more consistent and sustainable financial growth, by exploring business opportunities through diversifying into Fintech.

21 June 2016 / The Edge Markets

Cyber Security company SOVERUS TECHNOLOGY (STPL) acquires RED SENTRY (RPL) and RED SENTRY CONSULTANTCY (RCPL) for USD 2 M.

The acquisition between the 2 Singaporean Companies aims to capture a larger market share in the Cyber security space. RED SENTRY PTE LTD consists of 2 business units, RED SENTRY and RED SENTRY CONSULTANCY, which will complement and generate synergies for SOVERUS TECHNOLOGY.

18 June 2016 / Business Times

ZERTO (IL) raises 70 M to break into South East Asia

Funds led by US VC firms CRV and INSTITUTIONAL VENTURE PARTNERS will go into opening a Singapore office to support its APAC clients. ZERTO offers data protection services and solution in online servers and data centres for major clients like Amazon Web Services

21 June 2016 / Tech In Asia


Payment Solutions

FinAccel (SG) a credit scoring startup secured seven-digit funding.

Led by JUNGLE VENTURES, GMO VENTURE PARTNERS, AlphaJWC Ventures, 500 DURIANS and 500 TUKTUKS. Funds will be used to develop the core function of the application, KREDIVO, which is to reinvent credit scoring and digital lending in SEA and provide short-term financing for e-commerce buyers.

7 June 2016 / Deal Street Asia

CreditVidya (IN) raises USD 2 M from venture capital fund KALAARI CAPITAL

The Fintech Startup uses non-traditional methods such as phone recharge patterns, utility payments and eCommerce activities to provide credit scoring. The team of 35 responsible for their application will use the funds to grow its headcount to 70 by the end of the year.

8 June 2016 / Live Mint

Fintech Startup EPAYLATER (IN) secures USD 2 M in funding.

The funds raised, led by HNWIs who have expertise in the Fintech space, will be used for product development and marketing. Operating on the basis of “Buy now, pay later”, the company uses an algorithm, to generate a credit limit on their online purchases. This market is expected to be USD 75 B in 2020, explaining the numerous transactions that happened the past year.

9 June 2016 / VCCircle

ANT FINANCIAL SERVICES GROUP (CH) is looking to buy 20% of Thai online Payment provider ASCEND MONEY.

With a purchase of another 30% in the future, the creator of ALIPAY PAYMENT PLATFORM, is looking to expand overseas in their online payment and small loans business. With other strong competitors like WECHAT PAYMENT SYSTEMS in the market, the group is looking to establish a good footing globally. Details of the transaction were not disclosed.

18 June 2016 / Bloomberg

American Private Equity firm TPG GROWTH acquires 40% of ONE NETWORK BANK (ONB) (PH)

TPG, will now work together with the incumbent owner BDO, to hasten ONB’s growth. TPG’s expertise in financial services, in developing markets will kick off new product developments in that direction. The collaborative partnership aims to strengthen ONB’s current foundation and improve financial inclusion in the region. Details of the transaction were not disclosed.

20 June 2016 / Business Wire

Indian Digital lending platform LENDINGKART GROUP raises USD 32 M

Series B funding round was led by BERTELSMANN INDIA INVESTMENTS, MAYFIELD INDIA, SAAMA CAPITAL and INDIA QUOTIENT. Bringing their total funds raised to USD 41 M, LENDINGKART plans to improve and enhance their mobile technological capabilities and infrastructure.

29 June 2016 / Livemint

LUXURY & LIFESTYLE

Hospitality

Online Tour Operator, BookingKit secures a seven-digit in Series A funding.

The German company has made plans to use this investment to upgrade and develop its existing technology. Investment bodies like INTERMEDIA, HIGH TECH GRUNDERFONDS and Robert Kabs led the investment. This adds to the spate of fund raising activities in the Tech Startup space in Europe.

31 May 2016/ Tnooz

Media Company HT MEDIA LTD (IND) acquires Lifestyle e-tailer KOOVS.COM (IND) for USD 4.4 M

The transaction would give HT MEDIA 8.3% of KOOV PLC and this strategic investment will come against the backdrop of recent fund raising efforts that amounted to USD 32 M. Funds will be used to support the 189% sales growth in the past year.

30 May 2016 / VCCircle