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Bain Capital brings new CEO for Porus Labs after buyout

VCCircle

VCCircle · 1y ago

Bain Capital brings new CEO for Porus Labs after buyout

Private equity firm Bain Capital has appointed a new CEO for Porus Labs, a manufacturer of agricultural and specialty chemicals based in Hyderabad. Bain Capital acquired a majority stake in the company in June 2020. The specific deal value of the acquisition is estimated to be between Rs 2,500 crore and Rs. 3,000 crore.

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Bain Capital to join cap table of auto component maker

VCCircle

VCCircle · 11m ago

Bain Capital to join cap table of auto component maker

Private equity firm, Bain Capital, has announced its undisclosed investment in auto component manufacturer, RSB Transmissions. The investment aims to support the company in pursuing organic growth and potential mergers and acquisitions. RSB Transmissions, founded in 1973, specialises in designing and manufacturing components for commercial vehicles, passenger cars, construction and off-highway equipment. The transaction is subject to necessary approvals from relevant authorities. Bain Capital has previously invested in various Indian companies including Hero MotoCorp, Porus Labs, J.M. Baxi, and Quest Global.

Bain-controlled Novopor acquires US-based specialty chemicals company

VCCircle

VCCircle · 3m ago

Bain-controlled Novopor acquires US-based specialty chemicals company

Bain-controlled Novopor Advanced Science Pvt Ltd has acquired US-based Pressure Chemical Company, a specialist in high-pressure and specialty chemistry services. This acquisition aligns with Novopor's strategy to establish an integrated specialty chemicals platform, enhancing its facilities and technical capabilities. Originally Porus Labs, Novopor collaborates with global clients across various sectors and operates R&D centres in India. Despite a revenue decline, Novopor achieved profitability in FY24 under Bain Capital's majority ownership.

Bain, KKR, CPPIB eye new deals; Advent moves ahead with twin exits

VCCircle

VCCircle · 1y ago

Bain, KKR, CPPIB eye new deals; Advent moves ahead with twin exits

Bain Capital is reportedly in talks with Macquarie Capital to acquire a majority stake in a green power provider for commercial and industrial units. This comes after Bain Capital recently sold a 1.1% stake in Axis Bank. Additionally, KKR and Canada Pension Plan Investment Board are also said to be eyeing new deals, while Advent is progressing with two exits.

Bain Capital-backed 360 ONE Asset gets new CEO

VCCircle

VCCircle · 1y ago

Bain Capital-backed 360 ONE Asset gets new CEO

Raghav Iyengar has been appointed as the new CEO of 360 ONE Asset Management, which is backed by Bain Capital. In addition to being CEO, Iyengar will also serve as a whole-time director. He brings over three decades of experience in the financial services sector, having held leadership positions at Axis Asset Management, ICICI Prudential Asset Management, and Tata Asset Management. 360 ONE Asset Management offers alternative investment funds, portfolio management services, and mutual funds, with a total asset under management of Rs 72,248 crore as of March 2024.

Cybersecurity firm Rapid7 fields buyout interest, sources say

Economic Times

Economic Times · 10m ago

Cybersecurity firm Rapid7 fields buyout interest, sources say

Cybersecurity firm Rapid7 is reportedly considering options with its investment bankers after receiving acquisition interest from buyout firms. The Boston-based company is in talks with private equity firms, including Advent, Bain Capital, and EQT, and is exploring a potential sale. Rapid7's shares rose following the news but discussions may not lead to a deal. Last year, the company also explored acquisition interest but no agreement was reached. Rapid7 specializes in vulnerability management and faces pressure from activist investor Jana Partners. The cybersecurity sector has seen significant private equity investment in recent years.

Bain Capital raises $9B for Global Special Situations Fund II

YourStory

YourStory · 9m ago

Bain Capital raises $9B for Global Special Situations Fund II

Bain Capital has announced that it has raised $9 billion for its second Global Special Situations Fund. This brings its total assets to over $20 billion, making it one of the largest special situations investors in the world. The fund will focus on providing capital solutions for growth, M&A, and liquidity, as well as making strategic partnerships and opportunistically investing in distressed assets. With over 140 investment professionals across four continents, Bain Capital aims to expand its global strategy and capabilities. The private investment firm manages around $185 billion in assets across various asset classes.

Bain Capital logs off from another India bet with tepid returns

VCCircle

VCCircle · 1y ago

Bain Capital logs off from another India bet with tepid returns

Bain Capital, a global private equity firm, has made a liquidity move in India by selling shares of L&T Finance Holdings and JM Baxi. This comes after the firm had a busy year in India in 2020, making three new deals and several exits. However, the returns from these investments have been tepid. Bain Capital's decision to sell its shares suggests a cautious approach in the Indian market going forward.

Carlyle hires former Bajaj Electricals CEO to help improve portfolio firms’ performance

VCCircle

VCCircle · 11m ago

Carlyle hires former Bajaj Electricals CEO to help improve portfolio firms’ performance

Private equity firm Carlyle has hired Anuj Poddar, the former CEO of Bajaj Electricals, as co-head of Global Portfolio Solutions (GPS) for Asia. Poddar will focus on India and Southeast Asia and will work closely with Carlyle Asia's investment advisory teams. He brings over 30 years of corporate leadership and management consulting experience to his new role. Carlyle is looking to increase its control buyout deals in Asia and Poddar's appointment aligns with the firm's focus on enhancing portfolio company value creation. Carlyle manages $435 billion in assets and employs over 2,200 people worldwide.

Bain Capital tops up Indian bet to lift exposure to over $250 mn

VCCircle

VCCircle · 1y ago

Bain Capital tops up Indian bet to lift exposure to over $250 mn

Private equity firm Bain Capital has increased its investment in India, pushing its exposure to the country to over $250 million. Bain Capital has recently made three new deals and several exit moves in India. The firm has also decided to harvest a decade-old investment.

EverSource firming up game plan for second fund; plans more buyouts, new themes

VCCircle

VCCircle · 1y ago

EverSource firming up game plan for second fund; plans more buyouts, new themes

EverSource Capital, a climate-focused investor and joint venture between Everstone Capital and Lightsource BP, is preparing for its second fund, expecting to focus on new investment themes and increase the number of buyout deals. The firm, led by CEO Dhanpal Jhaveri, aims to support projects that address climate change and contribute to sustainability efforts. EverSource Capital seeks to build on the success of its inaugural fund and continue investing in companies and initiatives that align with their mission.

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