Maiva Pharma, a Bengalure-based Contract Development and Manufacturing Organisation (CDMO), has announced a significant milestone in its growth journey.
The company has successfully raised approximately Rs 1,000 crore in primary and secondary funding from a fund managed by Morgan Stanley Private Equity Asia and India Life Sciences Fund – IV (ILSF – IV). This investment marks Maiva’s first private equity fundraise and signals a significant move in the healthcare investment landscape.
The funding has been utilised to acquire a controlling stake from existing investors and to infuse primary capital into the company. Maiva Pharma plans to allocate the proceeds towards the establishment of a new manufacturing facility near Hosur. This facility will boast capabilities in sterile dosage forms, including pre-filled syringes, bags, oncology, and hormonal injectables, thus expanding the company’s production capacity and enhancing its product portfolio.
Avendus, a leading financial advisory firm, facilitated the transaction as the exclusive financial advisor to Maiva and its shareholders.
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Dr Bhaskar Krishna, Managing Director and CEO, Maiva Pharma, said, “Over the last three years, Maiva has quadrupled its manufacturing capacity for US, Canada, and EU markets. Based on continued strong interest from customers in partnering with Maiva, we will expand at a greenfield site near Hosur. This fundraise will be used to add more vial, lyophilisation, and suspension capacity and introduce new manufacturing capabilities such as prefilled syringes, cartridges, and bags.”
Energy Capital Partners is in advanced talks to acquire Atlantica Sustainable Infrastructure Plc,…
Austrian property group Immofinanz signed a contract to sell its logistics portfolio to U.S….
Sydney investment firm Quadrant Private Equity is now a Canva shareholder after acquiring a hefty…
ECP Is in Advanced Talks to Acquire Atlantica Sustainable
Energy Capital Partners is in advanced talks to acquire Atlantica Sustainable Infrastructure Plc, an owner of renewable power assets, according to people with knowledge of the matter.
The private equity firm has been negotiating terms of a deal to buy UK-based Atlantica, the people said, asking not to be identified because the information is private. It could reach a deal as soon as the next few weeks, according to the people.
Shares of Atlantica, which had fallen about 18% in the past year, jumped as much as 12% in US trading Thursday. They closed up 2.4% to $21.42, giving the company a market capitalization of about $2.5 billion. The company is currently valued at about $7 billion including debt, according to data compiled by Bloomberg.
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Listed alternative energy companies have been drawing takeover interest after declines in their stock prices. KKR & Co. offered in March to acquire German renewable-power producer Encavis AG in a €2.8 billion ($3 billion) deal.
Atlantica owns a portfolio of assets across the US, Europe, South America and Africa producing energy using sources such as wind, solar and natural gas. The company said in February last year it was starting a strategic review process to maximize shareholder value.
Shares of Algonquin Power & Utilities Corp., which owns about 42% of Atlantica according to data compiled by Bloomberg, also rose Thursday. They closed up 3.5% to C$8.90 in Toronto.
Deliberations are ongoing and there’s no certainty the companies will reach an agreement, the people said. The company could decide against a sale, the people said. A representative for ECP declined to comment. Representatives for Atlantica and Algonquin didn’t immediately respond to requests for comment.
Maiva Pharma, a Bengalure-based Contract Development and Manufacturing Organisation (CDMO), has…
Austrian property group Immofinanz signed a contract to sell its logistics portfolio to U.S….
Sydney investment firm Quadrant Private Equity is now a Canva shareholder after acquiring a hefty…
Austria’s Immofinanz sells logistics portfolio to Blackstone
Austrian property group Immofinanz signed a contract to sell its logistics portfolio to U.S. private equity group Blackstone, the company said on Monday as it switches focus to its retail and office business in western Europe.
The Austrian firm, whose results have been weighed down by its exposure to Russia, said in August it would concentrate on office and retail properties and sell its 1 million-square-metre logistics portfolio.
The deal with Blackstone covers all 36 of Immofinanz’s logistics sites, 24 of which are in Germany. The remainder are in Hungary, Romania, Poland, Slovakia and Russia, Immofinanz said.
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Blackstone will fold those sites into its European logistics unit Logicor and buy three development projects – one being built in Germany and two in Romania, Immofinanz added.
“The liquid funds released by the transaction will be invested in the expansion of our German portfolio, which will grow to nearly 200,000 sq metres of rentable space and up to approx. 40 million euros of rental income per year by mid-2018,” Immofinanz Chief Executive Oliver Schumy said in a statement.
Immofinanz did not give an exact value of the deal.
The company said the deal was expected to close in the first quarter of next year, when the final purchase price would be set, adding: “The purchase price is determined by the property value of approx. 536 million euros, less construction costs of approx. 28 million euros for the three development projects.”
Maiva Pharma, a Bengalure-based Contract Development and Manufacturing Organisation (CDMO), has…
Energy Capital Partners is in advanced talks to acquire Atlantica Sustainable Infrastructure Plc,…
Sydney investment firm Quadrant Private Equity is now a Canva shareholder after acquiring a hefty…
Quadrant Private Equity acquires $500m worth of Shares in Canva
Sydney investment firm Quadrant Private Equity is now a Canva shareholder after acquiring a hefty $500 million slice of the design giant, including more than $100 million worth of shares from VC fund Blackbird.
That represents about 1.2% of the company’s stock. The deal comes after $2.4 billion worth of Canva shares changed hands earlier this year amid $3.6 billion in demand, as tech company prepares to list publicly in 2026. The acquisition was made at Canva’s current US$25 billion (A$39bn) valuation – a figure local VCs arrived at in mid-2022.
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It’s a record single investment for Quadrant, which previously specialised in buy outs, having previously spent $410 million in May 2015 to acquire Queensland’s VIP Pet Foods. The business was rebranded as The Real Pet Food Company, and sold 2.5 years later for $1 billion, having growth its revenue by around 67% in that time.
Other Quadrant deals include the Fitness First gym chain, media monitoring business iSentia, boiling water brand Zip, furniture retailer Super A-Mart and Barbeques Galore, and cancer care provider Icon Group, which was sold for $1 billion.
Quadrant does have a track record in startups, including the online retailer Adore Beauty, founded by Kate Morris, and Kristy Chong’s Modibodi, which the private equity firm took a stake in in 2019 and was acquired by a Swedish company in 2022 for $140 million. They also owned and sold the Canberra Data Centres in 2016 for $800 million.
Maiva Pharma, a Bengalure-based Contract Development and Manufacturing Organisation (CDMO), has…
Energy Capital Partners is in advanced talks to acquire Atlantica Sustainable Infrastructure Plc,…
Austrian property group Immofinanz signed a contract to sell its logistics portfolio to U.S….
L Catterton buys majority stake in beauty brand KIKO
L Catterton has announced that it has entered into a definitive agreement to acquire a majority stake in Kiko Milano from the Percassi Family for an undisclosed sum. The Italian founders will retain a significant stake in the make-up brand.
In 2023, Kiko recorded net revenue of approximately €800 million and nearly 20 percent year-over-year growth. Through this partnership with L Catterton, the brand hopes to accelerate its global expansion.
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Nik Thukral, a Managing Partner in L Catterton’s Flagship Buyout Fund said, “We have long admired KIKO for its distinctive style, quality products, and global appeal and are deeply honored to partner with Antonio and the Percassi Family to further build on the strength of this iconic brand, alongside industry veteran and L Catterton senior advisor, John Demsey.”
Maiva Pharma, a Bengalure-based Contract Development and Manufacturing Organisation (CDMO), has…
Energy Capital Partners is in advanced talks to acquire Atlantica Sustainable Infrastructure Plc,…
Austrian property group Immofinanz signed a contract to sell its logistics portfolio to U.S….
Sycamore vies to take Nordstrom private
Sycamore Partners is one of the buyout equity firms that have expressed interest in taking U.S. department store Nordstrom private, according to people familiar with the matter.
Nordstrom said last month that CEO Erik Nordstrom and his brother Pete, the company’s president, were exploring options to take the retailer private, confirming a Reuters report that had been published in March.
Negotiations will take several weeks and there is no certainty that Sycamore, which owns regional U.S. department store operator Belk, or any other private equity suitor will reach a deal, the sources said, requesting anonymity because the matter is confidential.
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Sycamore declined to comment while representatives for Nordstrom did not immediately respond to a request for comment.
Nordstrom shares rose 6% to $19.90 in afternoon trading on the New York Stock Exchange on Thursday on the news, giving the company a market value of about $3.3 billion. Nordstrom also had long-term debt of $2.9 billion as of the end of December.
Nordstrom and other U.S. retailers have been grappling with curbs on discretionary spending by consumers following a bout of inflation and high interest rates. Macy’s Inc, another department store operator, has also become a takeover target.
Nordstrom has more than 350 stores as well as e-commerce operations. Chief Executive Erik Nordstrom and other members of the Nordstrom family collectively own about a 30% stake in the Seattle-based company.
Nordstrom formed a special board committee in 2017 to consider a bid by the family to go private and explored a deal with several private equity firms, including Leonard Green. The special committee in 2018 turned down an $8.4-billion offer as inadequate.
Sycamore Partners is one of the buyout equity firms that have expressed interest in taking U.S….
Advent International is in talks with Oman about a potential move to inject fresh capital into OQ…
Private equity firm The Carlyle Group has expanded its real estate portfolio with the acquisition…
Advent Explores Deal to Take Over Oman’s OQ Chemicals
Advent International is in talks with Oman about a potential move to inject fresh capital into OQ Chemicals in exchange for a majority stake in the company, people familiar with the matter said.
The private equity firm is proposing to provide as much as $250 million of new equity into OQ Chemicals, according to the people, who asked not to be identified discussing confidential information. A deal would see Advent take control of OQ Chemicals while its current owner, Oman state energy company OQ SAOC, would hold the remainder, they said.
OQ Chemicals has been searching for a solution after OQ recently signalled it wouldn’t be providing any further funds to the business, Bloomberg News has reported. The decision threw plans to refinance the company’s outstanding €475 million ($507 million) and $435 million term loans coming due this October into disarray.
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Advent is still discussing details, including the precise investment amount and stake size, the people said. OQ Chemicals has been studying a range of options, including potential solutions proposed by its creditors, and there’s no certainty of a deal, one of the people said.
Products made by OQ Chemicals are used in cosmetics, lubricants, printing inks and flavorings. Like many in the sector, it has seen a drop in demand as customers reduced inventories, according to a December report from S&P Global Ratings. The company has also faced headwinds in recent years from rising natural gas prices and financing costs.
Representatives for Advent and OQ Chemicals declined to comment, while a spokesperson for OQ couldn’t immediately be reached for comment outside regular business hours in Muscat.
Sycamore Partners is one of the buyout equity firms that have expressed interest in taking U.S….
Sycamore Partners is one of the buyout equity firms that have expressed interest in taking U.S….
Private equity firm The Carlyle Group has expanded its real estate portfolio with the acquisition…
Carlyle Group Acquires Four Self-Storage Properties for $110m
Private equity firm The Carlyle Group has expanded its real estate portfolio with the acquisition of four self-storage facilities in the outer boroughs of New York City. The facilities, located in Queens and Brooklyn, were purchased for a total of $110.4 million from Safe N Lock Self Storage, which developed them between 2018 and 2020. The properties are currently managed by Life Storage.
The largest individual sale was the facility at 87-16 121st Street in Richmond, Queens, which was sold for $50.3 million. The other three facilities are located at 145 18th Street in South Slope, 651 Utica Avenue, and 1690 East New York Avenue, both in Brownsville, Brooklyn.
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The deal was brokered by Mike Mele of Cushman & Wakefield, who has been marketing the properties since 2019. Safe N Lock has developed at least 25 self-storage facilities in the outer boroughs since 2012. However, the company has faced legal issues with some investors, including Equity Resource Investment, who sued Safe N Lock for allegedly cheating them out of profits and misappropriating funds.
Carlyle has been actively acquiring self-storage properties globally, including a facility in Long Island City for $80 million in 2022 and developing one in Crown Heights.
Sycamore Partners is one of the buyout equity firms that have expressed interest in taking U.S….
Sycamore Partners is one of the buyout equity firms that have expressed interest in taking U.S….
Advent International is in talks with Oman about a potential move to inject fresh capital into OQ…
Blackstone to buy Preferred Apartment Communities in $5.8bn deal
Preferred Apartment Communities Inc said on Wednesday a Blackstone Inc unit would buy it in a $5.8 billion deal, as the world’s biggest alternate asset manager ramps up investments in the red-hot U.S. housing sector.
Blackstone Real Estate Income Trust’s (BREIT) all-cash offer of $25 per share is nearly 40% higher than Preferred Apartment’s stock close on Feb. 9, a day before media reports on the company exploring strategic options including a sale.
The real estate investment trust’s shares shot up 7% to $25.04 before the bell following the news.
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Blackstone’s offer comes at a time when a strong economic recovery, ultra-low interest rates and continued demand for bigger homes have driven up home prices in the United States. The private equity giant also bought Home Partners of America in a $6 billion deal last year.
Preferred Apartment Communities is a rental apartment owner that primarily owns and operates multifamily properties, with investments in grocery-anchored shopping centers as well.
BREIT invests in stabilized, income-generating U.S. commercial real estate across key property types including residential, industrial, hotel, retail and office.
The terms of the deal include a 30-day “go-shop” period expiring on March 18, during which Preferred Apartment is allowed to seek alternate bids.
The deal is expected to close towards the second quarter of this year.
Sycamore Partners is one of the buyout equity firms that have expressed interest in taking U.S….
Sycamore Partners is one of the buyout equity firms that have expressed interest in taking U.S….
Advent International is in talks with Oman about a potential move to inject fresh capital into OQ…
Thyssenkrupp sells stake to Czech Billionaire Daniel Křetínský in green steel reprogramme
GERMAN engineering conglomerate Thyssenkrupp saw its share price rise more than 10% after announcing a major partnership with Czech billionaire Daniel Křetínský.
Křetínský’s private holding company EP Corporate Group (EPCG) has acquired a 20% stake and are negotiating for a further 30%, forming a potential joint venture (JV).
Thyssenkrupp said it hopes the merger will support its transition to hydrogen-based steel production by keeping energy costs stable.
Křetínský, the CEO of EPCG, said: “EPCG has successfully navigated dynamic market conditions in the energy sector, while remaining financially strong, growing, and a reliable provider of energy and services to our clients.
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The steel producer, once the largest in Germany, has had a build-up of over the last couple of years, selling off several of its divisions, including mining and lifts, to private equity firms.
Its Q1 2024 report recorded an impairment loss of €200m (US$214m), resulting in a net loss of €305m, which it attributed to low sales in the steel division and competition from Asian producers.
Last year, Thyssenkrupp received state-aid funding approval from the EU Commission for its tkH2Steel decarbonisation project.
With the German government supplying €2bn for the programme, the company is hoping to take its steel division carbon neutral by producing premium steel via green electricity and hydrogen.
Thyssenkrupp began construction in March to replace all four of its blast furnaces in Duisberg, Germany with a direct reduction iron (DRI) plant.
The plant is scheduled to go into operation in 2027. The company expects the plant to supply 2.3m t/y of liquid hot metal, which will be processed into different grades on-site.
Thyssenkrupp said it does not have sufficient hydrogen supply to run the plant for 2027 and plans to incorporate natural gas into processing to facilitate early-stage operation. The company is currently looking for hydrogen suppliers to supply around 143,000 t/y.
Sycamore Partners is one of the buyout equity firms that have expressed interest in taking U.S….
Sycamore Partners is one of the buyout equity firms that have expressed interest in taking U.S….