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The furniture hardware maker in sights of KKR, TPG, Kedaara

Livemint

Livemint · 1y ago

The furniture hardware maker in sights of KKR, TPG, Kedaara

Private equity funds including KKR, Kedaara Capital, and TPG are competing to acquire a controlling stake in Mumbai-based furniture hardware company Ebco. The deal is estimated to be valued at around $300 million, with the PE funds expected to acquire a stake of 65-75%. The promoters of Ebco are likely to retain the remaining stake and continue to run the business. The move comes as the furniture market in India is predicted to grow at a compound annual growth rate of 13.37% by 2026. Ebco is aiming to expand its presence and increase its revenues from ₹900 crore to ₹3,000 crore in the next five years.

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PE funds vie for a majority stake in medical devices maker Sensa Core

Economic Times

Economic Times · 10d ago

PE funds vie for a majority stake in medical devices maker Sensa Core

KKR, TPG, Kedaara Capital, and Multiples are in early talks to acquire a majority stake in India's medical device maker, Sensa Core. The company, valued at around $300 million, specializes in in-vitro diagnostic analyzers and point-of-care devices. Founded in 2006, Sensa Core is among India's largest producers in this sector. The Indian medtech industry is also poised for significant growth, with a market projected to quadruple to $50 billion by 2030.

Grapevine: PEs eye India's largest cardiac stent maker; O2 Power race heats up

VCCircle

VCCircle · 11m ago

Grapevine: PEs eye India's largest cardiac stent maker; O2 Power race heats up

Private equity firms such as KKR, TPG Capital, and Apax Partners are considering investing in India's largest cardiac stent maker, Sahajanand Medical Technologies (SMT). The evaluation values SMT at around Rs 3,500-4,000 crore. Another global private equity firm and Mumbai-based pharmaceutical company, Alkem Laboratories, are also reportedly interested in the deal. The potential investment highlights the growing interest in the healthcare sector in India.

Lenskart sets sights on round at $6 billion valuation

Economic Times

Economic Times · 8m ago

Lenskart sets sights on round at $6 billion valuation

Eyewear retailer Lenskart is in discussions for a fresh secondary share sale that could value the company at $6 billion, a 20% increase from its valuation in June. Existing investors including Fidelity, Kedaara Capital, and a significant early investor are seeking to increase their holdings in the company. The final structure and size of the round will depend on finding the right number of sellers. Lenskart has seen significant demand in recent years and has recorded multiple secondary deals. The company's CEO has also hinted at a potential IPO in the next two years.

Grapevine: TPG, KKR eye CVC’s stakes in hospital chain; Verlinvest plans Sula exit

VCCircle

VCCircle · 1y ago

Grapevine: TPG, KKR eye CVC’s stakes in hospital chain; Verlinvest plans Sula exit

Private equity firms EQT, TPG Capital, and KKR are considering acquiring CVC Capital's controlling stake in the cancer hospital chain Healthcare Global Enterprises (HCG). The deal may also include an open offer for an additional 26% stake in the company.

The energy firm in sights of a global consortium

Livemint

Livemint · 1y ago

The energy firm in sights of a global consortium

A consortium comprising the International Finance Corp (IFC), Asian Development Bank (ADB), and Asian Infrastructure Investment Bank (AIIB) is planning to invest approximately $250 million in Indian renewable energy company Fourth Partner Energy. The deal involves the sale of TPG Capital's 52% stake in the firm and a fresh equity investment of around $500 million. This investment comes as Fourth Partner Energy aims to expand its installed green energy capacity from 1.35 GW to 3.5 GW by 2025. India's commercial and industrial segment has attracted strong investor interest due to favorable regulations and the need for increased renewable energy capacity.

Warburg Pincus picks up majority stake in furniture company Ebco

VCCircle

VCCircle · 11m ago

Warburg Pincus picks up majority stake in furniture company Ebco

Private equity firm Warburg Pincus has acquired a majority stake in Indian furniture company Ebco Pvt Ltd. The promoters of Ebco will still retain a significant minority stake and will play an active role in the future growth of the business. Ebco, founded in 1963, offers various furniture products and accessories and has a distribution network of over 5,500 retail touchpoints. The acquisition comes as Warburg Pincus looks to expand its presence in the Indian furniture fittings and architectural hardware industry, which is expected to experience significant growth in the coming years.

TPG, KKR-backed Livspace posts strong revenue growth in FY23, narrows EBITDA loss

VCCircle

VCCircle · 1y ago

TPG, KKR-backed Livspace posts strong revenue growth in FY23, narrows EBITDA loss

Livspace, a home décor startup backed by private equity firms TPG and KKR, reported substantial revenue growth and reduced its EBITDA loss for the fiscal year ending in March 2023. The company achieved an 85% increase in its top-line revenue across the business during this period.

Broadcom nears $3.8 billion sale of remote access unit to KKR

Economic Times

Economic Times · 1y ago

Broadcom nears $3.8 billion sale of remote access unit to KKR

Broadcom is reportedly close to finalizing a $3.8 billion deal to sell its end-user computing (EUC) unit to private equity firm KKR. This move follows Broadcom's recent takeover of software maker VMware in an effort to streamline its portfolio. KKR emerged as the top bidder for the EUC unit over other private equity firms. The deal is expected to be announced soon, with Evercore, Deutsche Bank, and Jefferies advising KKR and Citigroup advising Broadcom. KKR has a history of dealmaking in the tech sector, including its previous acquisitions of BMC and Ensono.

TPG, Siemens Gamesa, Zepto, and Manipal Hospitals in news

VCCircle

VCCircle · 4m ago

TPG, Siemens Gamesa, Zepto, and Manipal Hospitals in news

A consortium led by private equity firm TPG is positioned to acquire Siemens Gamesa Renewable Power, a wind turbine maker, with an enterprise valuation between $500-550 million, according to reports. TPG plans to execute this acquisition using The Rise Fund, its global impact investing platform.

KKR to acquire Kerala hospital in year's third India healthcare deal

VCCircle

VCCircle · 1y ago

KKR to acquire Kerala hospital in year's third India healthcare deal

Private equity firm KKR has announced its acquisition of a majority stake in Kerala-based Baby Memorial Hospital (BMH), marking its third healthcare deal in India this year. Through its investment, KKR aims to support the expansion of BMH's network of hospitals across India. The financial terms of the transaction were not disclosed. KKR has previously invested in the Indian healthcare sector, including acquiring a minority stake in Infinx Services Pvt Ltd and purchasing medical devices maker Healthium Medtech Ltd. The deal underscores the growing interest of global funds in India's healthcare sector.

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