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News on Medial
Exclusive: PE firm to lead majority stake buy of NephroPlus
VCCircle
·
1y ago
Medial
NephroPlus, India's largest nephrology chain operator, is expected to undergo a major private equity deal that will result in a majority stake buyout. The deal, which is nearing completion, values the company at a significant amount.
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Exclusive: Dubai group in talks with sovereign, PE funds to lead in race for Theobroma
VCCircle
·
9m ago
Medial
A Dubai-based consumer group is in talks with sovereign and private equity funds to secure a majority stake in bakery chain Theobroma Foods. The bakery, founded in 2004, is backed by ICICI Venture and has garnered considerable interest from investors. The group is seeking support from multiple investors to lead the race in acquiring the stake.
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Quadria Capital to invest $102 mn in India’s leading dialysis chain
VCCircle
·
1y ago
Medial
Quadria Capital, a healthcare-focused private equity firm, has announced a $102 million investment in India's leading dialysis services provider, NephroPlus. The funding will secure a significant minority stake in NephroPlus through a mix of primary and secondary transactions. Despite having a minority stake, Quadria Capital is expected to gain control over the company. NephroPlus currently operates approximately 450 dialysis centers across India, the Philippines, and Uzbekistan. Quadria Capital manages assets worth $3.4 billion and specializes in backing companies within the healthcare sector.
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Multiples PE eyes Ebco; GIC, ADIA join PE consortium for Haldiram deal
VCCircle
·
1y ago
Medial
Indian private equity firm Multiples Asset Management is in advanced talks to acquire a controlling stake in furniture hardware company Ebco. If the negotiations are successful, Multiples will become the majority owner of Ebco. However, other investors are reportedly involved in the deal as well.
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Egyptian PE firm Ezdehar strikes control deal for apparel retailer
VCCircle
·
1y ago
Medial
Egyptian private equity firm Ezdehar has made its first deal in about a year and a half by acquiring a majority stake in a Cairo-based apparel company. The firm, which manages a fund that raised $175.7 million in 2022, will use its second fund to execute the transaction. This move aligns with Ezdehar's investment strategy of targeting mid-market businesses in Egypt.
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French PE firm Amethis strikes first bet from new Africa fund
VCCircle
·
6m ago
Medial
Amethis, a French private equity firm, has made its first investment from its third pan-African fund. The firm, which supports mid-sized businesses in Africa and Europe with over $1.2 billion in assets, has acquired a majority stake in a company as part of this investment. Headquartered in Paris, Amethis manages a portfolio of over 40 companies, focusing on growth opportunities within these regions.
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Bulge-bracket PE firm acquiring majority stake in Roop Automotives
VCCircle
·
8m ago
Medial
A bulge-bracket private equity firm has agreed to acquire a majority stake in Roop Automotives Ltd, a Gurgaon-based auto component company. This move further exemplifies the attraction of the Indian auto component industry for private equity investors, following the investment of firms such as Blackstone, Bain Capital, and Warburg Pincus in the past. The transaction will take place in two stages.
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Admaius Capital in PE dealmaking spree with control transaction in South Africa
VCCircle
·
1y ago
Medial
Pan-African private equity firm, Admaius Capital Partners, has made another deal in the region, acquiring a majority stake in a South African company. This marks the seventh investment for the firm from its first fund and the fourth deal in just over a month. With offices in Rwanda, Nairobi, Johannesburg, Tunis, and London, Admaius Capital is actively expanding its portfolio in the African market.
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Marquee PE firms join race to buy out ICICI Venture from bakery chain
VCCircle
·
1y ago
Medial
Several major global private equity firms and strategic buyers are competing to buy out ICICI Venture's stake in a local bakery chain. ICICI Venture, an established Indian private equity firm, is involved in various sectors such as private equity and real estate. The details of the potential buyers and the bakery chain have not been disclosed.
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Wipro inks $66 mn deal to acquire US insurtech firm Aggne
VCCircle
·
1y ago
Medial
Indian IT services major Wipro is set to acquire a majority stake in insurtech firm Aggne Global for $66m in an all-cash deal. Wipro will initially purchase a 60% stake in the Florida-based company and its India-based affiliate, with the option to buy the remaining stake in the future. Aggne, founded in 2019, provides IT, consulting, and managed services to the property and casualty insurance industry. The acquisition is expected to bolster Wipro's position in the insurance market and enhance its range of offerings.
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NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24
Entrackr
·
3m ago
Medial
NephroPlus posts Rs 566 Cr revenue and Rs 35 Cr profit in FY24 Dialysis service provider NephroPlus reported a 29% year-on-year increase in operating revenue for the fiscal year ending March 2024. Significantly, the Hyderabad-based company turned profitable during the period, marking a notable recovery from a Rs 12 crore loss in FY23. NephroPlus’ operating revenue grew to Rs 566 crore in FY24 from Rs 438 crore in FY23, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). NephroPlus runs over 275 dialysis centers in more than 170 cities in India and treats nearly 20,000 patients on a monthly basis. Revenue from these services accounted for 95% of the company’s income in FY24. On the expense side, the largest component of expenditure remained the cost of materials, which rose 19% to Rs 169 crore, accounting for over 31% of the total spend. Employee benefit expenses dropped slightly to Rs 91 crore from Rs 97 crore in FY23, while healthcare professional fees surged by 90% to Rs 59 crore. Hospital fees also increased to Rs 56 crore from Rs 48 crore, and other operational expenses climbed to Rs 166 crore. Overall, NephroPlus reported total costs rose 19.7% to Rs 541 crore in FY24. The strategic focus on cost discipline and improved margins helped NephroPlus post a net profit of Rs 35 crore in FY24, as compared to a net loss of Rs 12 crore a year earlier. Its ROCE and EBITDA margin improved to 9.40% and 18.96% respectively. On a unit basis, NephroPlus spent Rs 0.96 to earn a rupee of revenue in FY24. As of March 2024, the company reported current assets worth Rs 390 crore in FY24, out of which Rs 61 crore were in cash and bank balances. According to startup data intelligence platform TheKredible, NephroPlus has raised approximately $212 million in funding to date, having IFC and Besemer Venture Partners as its lead investors. The company’s co-founder and CEO Vikram Vuppala owns 11.6% of the company. Recently, NephroPlus acquired seven new dialysis clinics in the Philippines. The firm is also planning to start its clinics in Saudi Arabia later this year.
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