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Weekly Insight of Private Equity, Venture Capital, Merger & Acquisition in India

Weekly Insight of Private Equity, Venture Capital, Merger & Acquisition in India

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    Deal communique june vol-01 Deal communique june vol-01 Presentation Transcript

    • PE l VC l M&AJune Volume – 01[May 27- June 02 , 2013]Weekly Insight of Private Equity,Venture Capital, Merger & Acquisition
    • Weekly Insight of Private Equity,Venture Capital, Merger & AcquisitionThe Deal Communiqué is an INDEL Advisors’ initiative to present a weeklyinsight of deals related to private equity, venture capital and merger &acquisition announced during the week in India.This report captures the details of deals announced based on theinformation available in the public domain and public announcements and istherefore intended for general guidance only. It is not intended to be asubstitute for detailed research or the exercise of professional judgment. Wehave taken utmost care while bringing the deal details through this report,however, neither INDEL Advisors LLP nor any other member of INDEL Globalcan accept any responsibility for loss occasioned to any person acting orrefraining from action as a result of any material in this Deal Communiqué.On any specific matter reference should be made to the appropriateadvisors.In case you require any further information on the matter covered in thisreport or wants to provide your feedback - please mail us atinfo@indelglobal.com . Your feedback is important to us.
    • Private Equity Private Equity Snap Fitness to raise $10 mn to fund expansion UCX may sell 5% stake to bullion trader Harish Pawani IL&FS, Kotak PE looking to exit Bangalore based BFW Financial Technologies plans to reduce stake in IEX Nava Bharat Venture plans strategic investment in Odisha Unit Mantri Developers in talks with Morgan Stanley to raise PE IL&FS, StanChart PE plan to launch $600 mn Infra Fund HRH Group Of Hotels Plans To Raise Funds For Expansion
    • ©2013 INDEL Advisors LLP. All right reservedDeal ConciseSnap Fitness to raise $10 mn to fund expansionBangalore-based Snap Fitness India, the Indianmaster franchisee of Minneapolis, US-basedfitness chain Snap Fitness, is in the process ofraising a $10-million growth fund to fuel itsexpansion in the country and has approached PWCto manage the fund raising exercise.Snap Fitness, represented by Force Fitness IndiaPvt Ltd (Master franchisee) entered India in 2008and at present, the company operates 4 company-owned and 36 franchisee-run fitness centers inIndia. Of these, 30 are located in Bangalore withthe remaining centers spread across New Delhi,Mumbai, Hyderabad and Chennai. It has 2,200centers worldwide.It plans to use the funds to meet its mandate ofopening 300 centers - 100 company owned and200 franchisee operated in the next five years,including 10 each in Hyderabad and Chennai.This year the company was looking at opening 40centers pan-India. Snap Fitness centers, in sizes of3,000 sft, 4,000 sft and 5,000 sft, typically entailan investment of between R1.2 Cr and Rs 1.5 Creach. The company follows a hub-and-spokemodel, where it will have one company ownedcentre and close to four franchise run locationsbuilt around that area. While the operationalbreak even happens from day one, each centrereaches a cash positive stage once it gets at least600 members in three to five months timeframe.Announcement Date | 31 May 2013Industry | Healthcare
    • Deal ConciseUCX may sell 5% stake to bullion trader Harish PawaniUniversal Commodity Exchange (UCX) is planning tosell 5% stake in the exchange to Dubai basedbullion trader – Harish Pawani.If the deal goes through, UCX will issue 50 lakhfresh shares (5% stake) to Pawanis company - BinSabt, raising the paid and subscribed shares toR10.5 Cr from R10 Cr. The proceeds from the stakesale would be used to upgrade trading technology.Pawani promoted UAE based – Bin Sabt is asupplier of bullion bars to nominated agencies likeMMTC, HHEC, PEC and STC.The exchange went live last month with CommexTechnology as the anchor investor with 40% stake,REC and Nabard owns 16% each, IFFCO holds 15%and IDBI Bank holds 10%. It has trading in 11contracts across nine commodities - gold, silver,crude oil, chana, RSS4 rubber, mustard, soyabean,refined soya oil and turmeric with and an averagedaily turnover of 400 Cr- FMC data for thefortnight ended 15.05.13 showed.UCX will have to inform FMC of the sale, to ensurethat the expanded capital base does not reducestipulated PSU holding in a commex below the26% threshold. Government rules requirepromoters of a new commodity exchange to bringin Rs.100 Cr as equity capital to start operations.It also allows the main promoter or anchorinvestor in a new commex to hold up to 40% andto bring this down to 26% within five years ofcommencementAnnouncement Date | 30 May 2013Industry | Banking/Financial Services©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseIL&FS, Kotak PE may exit Bangalore based Bharat Fritz WernerPE funds IL&FS and Kotak Private Equity arelooking to exit Bangalore-based machine toolsmaker Bharat Fritz Werner (BFW)The PE investors are eyeing a valuation of around$100- 120 MN and are currently in talks withinvestors in Asia and Europe for stake sale. Thetwo PE funds had jointly invested 25 crore for anundisclosed stake in BFW in 2005 which wasutilized for expansion of its facilities, setting upan Export Oriented Unit at Bangalore and topenetrate European and American markets.The unlisted machine tools maker, which has aturnover of more than 450 crore, has severaloverseas clients in Italy, Germany, France,Netherlands, Oman, Russia, Sri Lanka, SaudiArabia, UAE and Thailand and it counts carmakers- Honda Motors, Maruti Suzuki, Kirloskar Toyotaand auto component-maker Bosch among itsclients.Bharat Fritz Werner is a part of the KothariGroup. It was setup in 1961 with German technocommercial collaboration. BFW manufacturesconventional milling machines in the country andits products cater to aerospace, automobile,defence, forging and pharmaceutical segments.In 2011, it acquired majority stake in Germanybased machine tool manufacturer - MatecMachunenbau GmBH.Announcement Date | 30 May 2013Industry | Engineering©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseFinancial Technologies plans to reduce stake in Indian Energy ExchangeFinancial Technologies is in talks with PE investorsto sell 6% stake in IEX to pare its stake down to25% in order to comply with electricity regulator -Central Electricity Regulatory Commission whichallows promoters of such exchanges to own 25%and trading members to own 5%.IEX, Indias first power trading exchange, wasoriginally promoted by FT and co-promoted by PTCand has more than 80% market share. Indianpower companies Adani Enterprises, Jindal Power,Lanco Infra, Reliance Infra, REC, Tata Power, lenderIDFC and PE funds Lightspeed Venture Partners,Bessemer Venture Partners and Multiple AlternateAsset management own up to 5% stake each in thecompany.IEX facilitates day-ahead and weekly spot trades inelectricity. Around 29 states and Union territories,150 private generators and over 100 industrialconsumers are managing their energy portfolioon the power bourse.More than 22 Bn units ofelectricity were traded on the IEX in 2012-13compared with 13 Bn units a year ago.Power Trading Corporation, a trading member,recently reduced its stake to 5% in IEX.In 2010, FT had sold 7% stake in the exchange foraround 21 Cr. Later, PTC had managed to sellsome stake in IEX for more than 30 Cr. In March2012, PTC had divested 14.01% stake in IEX atR166.51 per share, aggregating to R70.76 Cr.Announcement Date | 28 May 2013Industry |Banking/Financial Services©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseNava Bharat Venture Plans Strategic Investment In Odisha UnitHyderabad-based Nava Bharat Ventures Limitedplans to create separate SPV for power and ferrochrome operations of Odisha unit and shall rope instrategic investors for it.In February, the company had commissioned andsynchronised with the Odisha power grid two 64Mw power units at Kharagprasad village inDhenkanal district where it has a 75,000-tonnep.a. capacity ferro chrome plant. Its Odisha unitcomprising of ferro chrome operations andcaptive/independent power generation, havebeen affected on and off by regulatory restrictionsconcerning sale of power and supply of chromeore aside from un-remunerative merchant powerrates and volatility in ferro chrome market.It proposes to offer equity in both the SPVs tomake them captive units for the investors underthe prevailing regulations.Nava Bharat Ventures is involved in powergeneration, ferro alloys, mining and agri-businesswith operations spread over India, South EastAsia and Africa. The company witnessed agrowth of 31.80% in net profit.Last November, Lehman Brothers Holdingsubsidiary – Kingfisher Capital CLO Limited hasexited from Nava Bharat Ventures. The fund soldaround 45,33,135 shares (5.08%) for R195 pershare aggregating to R88.40 Cr, through bulkdeal on NSE.Announcement Date | 27 May 2013Industry | Energy / Utilities©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseMantri Developers in talks with Morgan Stanley to raise PEMantri Developers is planning to raise PEinvestment and has started discussions withMorgan Stanley, BS stated.The company plans to use the funds for itsprojects. In 2006, Morgan Stanley had invested$68 Mn for 17.68% stake in the company.In 2010, the Bangalore based developer raised $89Mn from Xander group in two mixed-use projectsin Bangalore and Chennai. Last year, ASK PropertyInvestment Advisors acquired a majority stake forR100 Cr in a project at Bangalore undertaken byMantri Developers.Incorporated in 1999, Mantri Developers is theflagship company of the Mantri Group. SushilMantri holds 74.29% along with Malpani familyholding 8.25% of the total shareholding in thecompany.At present, Mantri has 6.75 msf space underdevelopment through five projects in residentialand three projects in commercial segments Thecompany has another 5.26 msf of upcomingresidential development in the short term.Earlier in May, Mantri Developers launched atechno-residential project, Mantri Web City, inBangalore which offers homebuyers 2-BHK and 3-BHK homes including penthouses in sizes rangingfrom 965 sq ft to 1,835 sq ft.Announcement Date | 27 May 2013Industry | Real Estate©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseIL&FS, StanChart PE plan to launch $600 Mn. Infra FundIL&FS Investment Managers Ltd and StandardChartered Plc’s private equity arm StandardChartered Private Equity Ltd are raising a newinfrastructure fund that is estimated to bearound $600 million (Rs 3,344 crore). The fundplans to raise investment from investors of itsprevious funds and is likely to close within a year.The new fund would also be looking to invest inMiddle East nations as plenty of infrastructureprojects are coming up in the region.Standard Chartered IL&FS Asia InfrastructureGrowth Fund was the previous fund these twocompanies launched together in 2008. It was a$658 Mn pan-Asia infrastructure fund with focusin India and China. It has invested in IL&FSTransportation Networks Ltd and MalakoffCorporation Bhd, among others.Standard Chartered IL&FS Asia InfrastructureGrowth Fund Company was planning to pick up17% equity in Hyderabad-based infrastructurecompany Navayuga Road Projects (NRPPL) forR360 Cr.Announcement Date | 27 May 2013Industry | Infrastructure©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseHRH Group Of Hotels Plans To Raise Funds For ExpansionHistoric Resort Hotels Group, which runs a chainof heritage hotel in Udaipur, is looking for foreignfunds for expansion.The group plans to invest the funds raised toenlarge existing hotels, leasing hotel units orvacant lands from other member companies andacquiring fresh properties.The company plans toopen two new art galleries in the next financialyear and to invest R250 Cr to upkeep of itsheritage properties which will be funded throughinternal accruals.Founded in 1559, Historic Resort Hotels (HRH) isa chain of heritage palace-hotels and resortsunder private ownership. It is a preservingpalaces and sanctuary - resorts. The group offersregal experiences in island-palaces, museums,galleries, car collections, and much more.Shiv Niwas Palace and Fateh Prakash Palace inUdaipur and Gajner Palace, Gajner areclassified Grand Heritage Palaces. ShikarbadiHotel and Garden Hotel in Udaipur, The Aodhiin Kumbhalgarh, Fateh Bagh in Ranakpur,Gorbandh Palace in Jaisalmer and KarniBhawan Palace in Bikaner are Royal Retreatsof the group. Currently, the group operates 10properties, including hotels and resorts witharound 600 rooms across the states.Announcement Date | 27 May 2013Industry | Retail / Leisure/ Travel©2013 INDEL Advisors LLP. All right reserved
    • Venture Capital Edukart Gets USD 500K as Seed Investment From Kima Ventures Inventus Capital, Mumbai Angels invested USD 2mn in eDreamsEdusoft Rajan Anandan, Blume Ventures Invest In Socialblood Invictus Oncology raises Rs.10.5 crore from Navam Capital, AarinCapital SaaS startup Unicommerce raises funds from Nexus Venture Partners
    • Deal ConciseEdukart Gets USD 500K as Seed Investment From Kima VenturesDelhi based e-learning startup, Edukart has raisedUSD 500K in seed funding from institutional andangel investors. The round was lead by Frenchorigin Kima Ventures and other includes Amit Patniand Arihant Patni, Shiven Malhotra of AKMSystems, Vibhor Mehra (ex-partner of SAIFPartners) a Stanford Alumni. The funds raised willbe used to accelerate EduKart’s growth, launchnew courses in partnership with both Indian andinternational institutions, and strengthen itsfranchisee network.Edukart was founded in 2011 by alumni of StanfordUniversity, Ishan Gupta and Mayank Gupta (IIM). Ithad previously raised funds from One97Communications founder Vijay Shekhar Sharmaand Providence Capital Director Manish Kheterpal.The company offers both short certificationcourses and degree programmes for which it haspartnered with institutions such asthe London School of Business & Finance, Indianand Mobile Association of India, MahatmaGandhi University and Retailers Association inIndia. EduKart.com helps students get degreesthrough online programs in MBA, MCA and BBAand certificate courses in areas of retail, finance,digital marketing, programming languages andproject management. It currently has a team of25 people and 40 franchise partners across thecountry.This is the second investment made by KimaVentures in e-Learning startups in India. The firstinvestment of $150,000 came in Codelearn,online learning startup for programmers.Announcement Date | 31 May 2013Industry | Learning©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseInventus Capital, Mumbai Angels invested USD 2mn ineDreams EdusoftBangalore based education technology company,eDreams Edusoft has raised $ 2 million fromInventus Capital Partners in its second round offunding, with participation of existing investorsMumbai Angels which invested INR 5 crore thisyear in January.Founded in 2010, by Rajeev Pathak, an alumnusof BITS Pilani and an ex employee of Wipro,eDreams Edusoft is an education technologycompany with its products driven by innovationacross technologies such as Artificial Intelligence(AI), Machine Learning, NLP and Speechprocessing. The company has invented anintelligent and adaptive personal tutor “FunToot ”for K-12 education. Funtoot is an intelligentpersonalized tutor that teaches children in a funand interactive manner.Having more than 10,000 clients for Funtoot inIndia, the company plans to take it global.Partnered with several educational and researchorganisations, eDreams has won BloombergPitch Award 2011-12 and Marico InnovationFoundation Award 2012.Inventus capital partners is a venture firm andhas backed companies such as Dhingana, Power2SME, Funds India and others.Announcement Date | 30 May 2013Industry | Learning©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseRajan Anandan, Blume Ventures Invest In SocialbloodBangalore based Socialblood, a social networkthat connects blood donors, has raised anundisclosed amount from multiple investors,medianama states. These investors include GoogleIndia MD Rajan Anandan, Karthik Reddy of BlumeVentures, and Ravi Gururaj and Ramesh Shah ofHarvard Business School Alumni Angels.Founded by Karthik Naralasetty in 2011,Socialblood is a social network that connectsblood donors and recipients of the same bloodtype through Facebook. One just needs to loginwith their Facebook account to use the website.The platform asks permission to access one’spublic profile, friend list, email address, birthday,current city, website, personal description andfriends’ current cities.After logging in, it collects information such asblood type and whether you can donate blood.It then maps the location of the donor on Googlemaps and notifies if anyone in their Facebooknetwork requests for their blood type. One canalso check all blood requests from friends,requests based on criticality, among others. Thecompany claims that it currently has about 863blood donors. Other than blood requirementsone can also request for plasma or red bloodcells by submitting information such as patientname, date of requirement, units, hospitaladdress, hospital name, and description. It thensends notification to blood donors who can fulfillthe requirement.Announcement Date | 29 May 2013Industry | Healthcare©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseInvictus Oncology raises Rs.10.5 crore from Navam Capital,Aarin CapitalInvictus Oncology Pvt. Ltd has raised R10.5 Cr fordevelopment of platinum chemotherapiesfrom Navam Capital and Aarin Capital in its firstround of fund-raising.Platinum chemotherapies is used in the treatmentof several types of cancer, including lung,testicular, colorectal, and childhood cancers.It is developing chemotherapy models that wouldbe more effective and less toxic than the currenttreatment available. It plans to accelerate the pre-clinical development of its antibody-drugconjugate platform technology that uses aproprietary technology.Aarin Capital is led by Ranjan Pai and T.V.Mohandas Pai invests in companies offeringinnovative healthcare, life sciences andtechnology-based products or services.Navam Capital is a venture capital arm of GPSKInvestment Group, focused on making seedand early-stage investments in energy,technology and health Care.Before this deal Aarin Capital and NavamCapital along with IndoUS Venture Partnersmade an investment of R18.5 Cr indermatology company - Vyome Biosciences inSeptember 2012.Announcement Date |28 May 2013Industry | Healthcare©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseSaaS startup Unicommerce raises funds from Nexus Venture PartnersDelhi-based Unicommerce eSolutions, a providerof SaaS based order management and fulfillmentsolutions, has raised an undisclosed amount infunding from Nexus Venture Partners. Thecompany’s platform used by ecommercecompanies and retail businesses, as well vendorswho supply to them.The funds raised will beutilized to increase sales and marketing effortsand build its product and infrastructure. As part ofinvestment, Anup Gupta from NVP will be joiningthe board.Founded in 2012 by Ankit Pruthi, Karun Singla andVibhu Garg, Unicommerce flagship product-Uniware is a web based solution that manages thecomplete order fulfillment lifecycle.The company is already working with ecommerceplayers like Snapdeal and Jabong. It have clients indifferent verticals like Grocery – Mygrahak,Jewellery – Bluestone, Apparels –DoneByNone and Highstreetlabels.Unicommerce manages over 1.5 millionproduct shipments per month across 50+warehouses and 1000+ concurrent usersglobally.Last month, Nexus Venture Partners alongwith Avalon Ventures invested $4.5 Mn inIndix, an Indian and American located firm thatis into big data, analytics, visualization andapplication serving to optimize product andservices companies’ offerings.Announcement Date |28 May 2013Industry | Technology©2013 INDEL Advisors LLP. All right reserved
    • Merger & Acquisition Blue Star Infotech makes strategic investment in Activecubes Balmer Lawrie to acquire domestic Tour & Travel Company Snapdeal buys Sequoia backed - Shopo.in TVS Logistics buys US based Wainwright Industries Healthcare Global acquires majority stake in BACC Sumitomo Rubber set to take over Apollo Tyres South Africa
    • Merger & Acquisition Cigniti Technologies acquires Gallop Solutions Micro Technologies to divest stake in two Subsidiaries Walmart to buy 49% stake in Cedar Support Rajapalayam Mills plans to sell its Biotech Unit GIC May acquire Lloyds Syndicate Member Concert Care acquires Novel Infosolutions
    • Deal ConciseBlue Star Infotech makes strategic investment in ActivecubesBlue Star Infotech Limited, a software services andsolutions provider has made investmentin Activecubes Solutions India Pvt. Ltd., a globalfirm operating in the Decision ManagementSpace, according to BSE filings.Both Blue Star Infotech and Activecubes have astrong presence in the US, with significant areas ofsynergy and leverage.Incorporated in 2007, Activecubes providesBusiness Intelligence and Analytical services andprovide solutions to global clients across financialservices, consumer packaged goods, retail,telecom and health care.Part of the Blue Star Group, Blue Star Infotechcaters to the IT and software R&D needs ofenterprises globally, and offers a broad spectrumof services ranging from Application Developmentand Management, Product Engineering, PackageImplementation and Testing to new agesolutions such as Analytics/BusinessIntelligence, Mobility and Cloud Computing. Thecompany has operations in USA, Europe, Indiaand Singapore.Last June, Blue Star Infotech acquired InfostackSolutions Pte Ltd in Singapore through itssubsidiary Blue Star Infotech (Singapore) Pte. Ltdwhich is a Consulting & IT services firmspecializing in providing value chainmanagement solutions.Announcement Date | 31 May 2013Industry | Technology©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseBalmer Lawrie to acquire domestic Tour & Travel CompanyGovernment of India enterprise, Balmer Lawrie &Co Ltd is planning to acquire tour operatingCompany to its travel services arm, Balmer LawrieTours and Travel and is in talks with an operatorthat runs tour packages to Europe, the Far Eastand South Africa.Its tours and travel arm is well established inticketing segment. The ticketing business accountsfor almost 90% of its total revenues from thetravel segment. Balmer Lawrie has offices in 19cities in India and provides travel and tour relatedservices to all major Central GovernmentMinistries, PSUs, Semi-government, AutonomousBodies and Corporate.It has seven Strategic Business Units also in Indiaand abroad – Industrial Packaging, Greases &Lubricants, Performance Chemicals, LogisticsInfrastructure, Logistics Services, Tea andRefinery & Oilfield Services. The company hasplans to invest R500 Cr over next two-to-threeyears in new projects including the setting up ofa logistics hub near Kolkata and Vishakhapatnamand a steel barrel plant in Navi Mumbai.At the same time it is set to acquire 55 acres ofland for setting up the logistic hub near Kolkata.The estimated investment on the project is closeto R150 Cr. The company has also entered into aJV with Visakhapatnam Port Trust for developinganother logistic hub at an estimated investmentof R200 Cr.Announcement Date | 31 May 2013Industry | Retail / Leisure/ Travel©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseSnapdeal buys Sequoia Backed - Shopo.inSnapdeal.com has acquired the assets of Shopo.in,an online marketplace for Indian designer andhandcrafted products for undisclosed amount.With this acquisition, Snapdeal will provide theseunique products at great prices to its 20 Mnmembers, and will provide Shopos sellers toleverage Snapdeal’s nationwide reach.In 2011, Shopo.in had raised seed funding fromSequoia Capital, SRI Capital, Seeders, Sashi Reddi,and other angel investors. Shopo was founded byTheyagarajan S and Krithika Nelson in 2011. Theonline store that sells Indian products acrosscategories such as apparel, accessories, homedécor etc.Recently in April, Snapdeal raised of $50 Mn fromeBay and existing investors - BVP, Nexus Ventureand IndoUS Venture Partners. In March it raisedterm loan of R8 Cr from SVB India Finance.Snapdeal, founded in 2010 by Kunal Bahl andRohit Bansal, started as a group buying sitefeaturing heavily discounted deals on localservices. Snapdeal has 18 Mn registered users,transacts 25,000 units a day and employs morethan 1500 employees.It raised $40 Mn from Bessemer along withNexus and IndoUS in July 2011 which followedthe investment of $12 Mn by Nexus and IndoUSin January the same year. It recently acquiredonline sports goods retailer - esportsbuy.com.Announcement Date | 31 May 2013Industry | Technology©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseTVS Logistics buys US based Wainwright IndustriesTVS Logistics has made its second acquisition inUS by acquiring Wainwright Industries for R50.With this deal, TVS has equipped itself withcomplete end-to-end production supply chainsolutions such as cross docking and sub-assembly for manufacturers and will be able tooffer complete outsourcing model to itscustomers. TVS has made an initial payment ofR25 Cr and will pay the rest over two years oncondition that the US-based company meetsvarious financial targets. The employees of thecompany will be retained.Founded in 1947, Missouri based WainwrightIndustries operates six facilities in three stateswith manufacturing and services two corecompetencies. TVS is aiming to have a totalturnover of R2400 Cr, its UK-dominated overseasoperations contributing more than 60% ofrevenue.TVS had made its first acquisition in USA when itacquired Manufacturers Equipment and SupplyCompany in 2011. Three months back, TVSacquired 85% stake in Rico Logistics for R100 Cr.Wainwright is the fifth overseas acquisition byTVS Logistics. Earlier it had acquired two UKbased companies, Multipart Holding in 2009and CJ Components in 2005.US buyout firm KKR & Co. LP invested $50 Mn inTVS Logistics in April last year. Goldman SachsGroup Inc., which had provided initial funding ofR100 Cr in 2008, pumped in another R26.6 Crlast year.Announcement Date | 31 May 2013Industry | Transport/ Logistics©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseHealthcare Global acquires majority stake in BACCHealthCare Global Enterprises (HCG) has acquireda majority stake in Bangalore Assisted ConceptionCentre (BACC), a leading provider of fertility carefor undisclosed amount, BS stated. Post deal,BACC will be known as Milann – The FertilityCenter. The new entity will now expand into manytowns and cities, including Tier-II and Tier-IIItowns.Founded in 1990 by Kamini A. Rao, BACC operatesfour fertility centers across Bangalore. In additionto an accredited fellowship program, Milann alsoruns CREST, the only training centre forembryologists and fertility specialists in India. Ithas treated over 15,000 patients.Recently in March, Temasek Holdings investedR140 Cr in HCG which gave exit to EvolvenceCapital. It had plans to double its network to 50centers in India and Africa and also enter themulti-specialty space with the new funds.Founded in 1989, Bangalore-based HCG ownsand manages a network of cancer treatmentcenters in India. It focuses on cancer care,diagnostics, imaging, research, and clinicaltrials services.It has more than 23 cancer centers across Indiaand in Africa providing cancer care treatment,imaging, laboratory services, clinical trials andresearch services..Announcement Date | 30 May 2013Industry | Healthcare©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseSumitomo Rubber set to take over Apollo Tyres South AfricaSumitomo Rubber Industries is set to take overApollo Tyres South Africa including the LadysmithTyre plant and Dunlop Brand rights in Africa, BSEstates. The acquisition would cost Sumitomo $60Mn and the deal is expected to conclude in nextfour months.Sumitomo Rubber Industries is a Japan basedmanufacturer of automotive tyres and industrialrubber products. It has factories in Japan, China,Indonesia, Malaysia, Vietnam, Thailand and Brazil.Apollo Tyres had acquired the Durban, South Africaheadquartered Dunlop Tyres International in 2006,and renamed it Apollo Tyres South Africa Pty Ltd.With this deal, Sumitomo will get a manufacturinglocation on the continent and control over theDunlop brand, which it can also use in many othercountries across the world.Apollo holds the rights to sell the Dunlop brandin 32 countries of Africa. The company will retainthe Durban plant, through the Holding Companyof ATSA, which manufactures truck and busradial tyres and off highway tyres and allemployees attached to it. It will continue to sellthe Apollo, Vredestein and Regal brand tyres inAfrica while focusing on creating andstrengthening its own sales and distributionnetwork across the continent. Apollo is lookingforward to expand its domestic and internationaloperation and has allotted R500 Cr to it.Announcement Date | 30 May 2013Industry | Airlines /Autos©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseCigniti Technologies acquires Gallop SolutionsCigniti Technologies has entered into anagreement for acquisition of Gallop groupcompanies which are engaged in software testingactivities, BSE filing states. The Gallop groupcompanies include India based Gallop Solutionsand USA based Gallop Solutions Inc. Theacquisition will enable Cigniti Tech to augmenttesting capabilities and bring in new clients andgeographical areas. Akasam Consulting was thesole advisor to the transaction.Gallop Solution is engaged in providing softwaresolution to the enterprises. The company focuseson providing software ALM solutions to the HPsoftware. It offers various services like verificationand validation, application development, oraclefusion and erp solutions, strategic staffing, globalsourcing and Microsoft share point.Recently in March, Cigniti Technologiesannounced its plan to raise R54 Cr eitherthrough preferential allotment to existingshareholders or through a private equityplacement to fuel its inorganic growth plans.In 2011, Chakkilam Infotech acquired Americanfirm - Cigniti Inc and rebranded itself as CignitiTechnologies Limited. Cigniti is an IndependentSoftware Testing Services Company. Cigniti hasexpertise and proprietary frameworks toaccelerate testing for improved time to marketfor its clients. It has global delivery centers inUS, India, London, and Colombia.Announcement Date | 29 May 2013Industry | Technology©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseMicro Technologies to divest stake in two SubsidiariesMicro Technologies India is planning to diveststake in two subsidiaries in order to raise R 300 Crto cut down its debt, BL stated.The proceeds of the stake sale would be used tobring down overall debt of R300 Cr and unlockvalue in group companies.In 2011, Micro Tech raised R20 Cr from HT MediaLimited by issuing 5 lakh CCDs for R400 each,while in 2007 Bennett Coleman & Co Ltd investedR6.26 Cr by subscribing to 250,000 shares atR250.8 per share. As on March 2013, HT Mediaholds 6.92% stake and BCCL holds 1.47%.The company has plans to divest 35% stake in its –Micro Secure Solutions and Micro Retail andcurrently in talks with PE players. Micro tech plansto raises R150 Cr each in Micro Secure and MicroRetail. Further, the company plans to list both theunits in next three to five year.Micro Secure Solutions is engaged in range ofPremises security products for commercial &residential premises and caters to diversesectors such as Retail, Corporate, Household,PSUs in India and across Middle East. MicroRetail is engaged in the area of retailing therange of Electronic Security, Software andmessaging Products for vehicle, premises, andother assets.Founded in 1992, Micro Technologies offerssecurity devices, life style and support systemsand web-based software. It has more than 350security products across various segments withpresence in over 30 countries.Announcement Date | 29 May 2013Industry | Technology©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseWalmart to buy 49% stake in Cedar SupportWalmart Stores will soon convert CCDs it owns inCedar Support Service, the holding company forBharti Retail in equity shares. With this conversionthe retail company would have 49% stake in CedarSupport Service worth R455.8 Cr.These CCDs which it had purchased in March 2010would be converted to 42.6 Cr equity shares bySeptember. The conversion will help Cedar infusefresh equity in its step-down subsidiary, BhartiRetail, which has plans to nearly triple its retailstores to 638 by December 2018, from 228 andwill roll out 104 stores by December 2013.Bharti Retail plans to raise R1,085 Cr as equity andR2,782 Cr debt over six years to fund its expansionplans.Bharti Retail operates through easyday Marketeasyday Hyper. Presently, there are over 220stores in cities across Punjab, Haryana, UttarPradesh, Uttarakhand, Madhya Pradesh,Rajasthan, Himachal Pradesh, Chhattisgarh,New Delhi, Jammu & Kashmir, Maharashtra,Karnataka and Andhra Pradesh. The storescomprise over 190 easyday Supermarkets andabout 23 easyday Market and easyday Hyperstores.Announcement Date | 29 May 2013Industry | Retail / Leisure/ Travel©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseRajapalayam Mills plans to sell its Biotech UnitRajapalayam Mills is planning to sell, lease ordispose the assets of the tissue culture division,Shri Ramco Biotech in order to focus on corebusiness - Textile, BSE states.Established in 1995, Shri Ramco Biotech producestissue culture plants. It has set up a lab inBangalore, with a built-up area of 2,600 Sq.m anda capacity to deliver 5 Mn plants p.a. The unit alsoproduces Anthurium, Banana, Gerbera andOrchids for the domestic market. Twelve acres ofverdant fertile land surrounding the lab is used ofgreen house hardening facility, R&D trials anddemonstration.Rajapalayam Mills Ltd. was established in 1938,with 6800 Spindles imported from England.Rajapalayam Mills today produces 11 Mn kgs ofyarn per year, employs more than 1000 workers.At present it has 1,21,856 Spindles (including56,080 compact spinning spindles, 11568 Eli-Twistspindles and 2400 Slub Yarn Spindles) and also has2000 Rotors in Rajapalaiyam and around 2000Rotors in Andhra Pradesh.It export 80% of its spinning capacity to the highlyquality-conscious markets like Japan and also toother countries like Korea, China, Hong Kong,Malaysia, Indonesia, Thailand, Pakistan, Dubai,Bahrain, Italy and Spain etc.Its annual net profit has grown from R1.32 Cr inthe year ending March’12 to R23.77 Cr in the yearending March’13. Its annual sales have witnesseda growth of 12.54% from R298.80 to R336.28 Cr inthe period.Announcement Date | 28 May 2013Industry | Retail / Leisure/ Travel©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseGIC May acquire Lloyds Syndicate MemberIndias national reinsurer General InsuranceCorporation plans to acquire a Lloyds Syndicatemember to meet its goal of being among the topfive reinsurers globally, TOI states.Ashok Roy, Chairman GIC believes organic growthwould take many years and acquisitions wereunder the companys consideration. Being amember at Lloyds, it would provide the companywith the platform to operate in 60 countriesacross the world.Lloyd’s is the specialist insurance market. Unlikemany other insurance brands, Lloyds is not acompany, is more like an insurance exchange; its amarket where members join together assyndicates to insure risks. The risk Llyod’s covercan be grouped into seven main categories:casualty, property, marine energy, motor, aviationand reinsurance.Lloyds accredits companies that individuallyunderwrite insurance business from all over theworld.GIC of India (GIC Re) is a reinsurance companywith over three decades of experience withbranches in London, Dubai and Kula Lumpur.GIC Re has been ranked 15th amonginternational reinsurers by S&P.Besides expanding in London, GIC is also lookingto expand its aviation reinsurance business inthe US.The company is planning to sendrepresentatives to an aviation reinsurance eventin Bermuda to tap the US marketAnnouncement Date | 28 May 2013Industry | Airlines/Autos©2013 INDEL Advisors LLP. All right reserved
    • Deal ConciseConcert Care acquire Novel InfosolutionsConcert Care Healthcare Solutions, a Birminghambased healthcare software provider has acquiredNovel Infosolutions in Chennai.With this acquisition, Concert Care will receive theroughly eight or nine clients that Novel has inAustralia, Sweden and the U.S. Novel Infosolutions15 member team will be added to Concert Care,Business Journal states.Novel Infosolutions is a specialized provider ofsoftware services and solutions for processautomation to all Industries. It is a full serviceprovider, offering products, custom applicationdevelopment, testing, operations support etc. Itspecialize in application integration, webdevelopment, web-enabled solutions, groupwaresolutions, mobile solutions, and business processconsulting to help build secure intranet, extranet,and internet business applications.Founded in 2012 by Tanveer Patel, Concert Careis an international Healthcare services firm thatprovides business solutions for healthcareorganizations. It helps medical groups increasetheir net revenue, enhance physiciansatisfaction, take full advantage of Health IT andstrengthen their strategic position. Concert Careplans two more acquisition this yearAnnouncement Date | 28 May 2013Industry | Technology©2013 INDEL Advisors LLP. All right reserved
    • www.indelglobal.comINDEL Advisors LLPINDEL is a global business advisory and consulting firm led by experienced professionals withentrepreneurial skills dedicated to serve middle-market companies in their Tax, Audit, Legal,Transaction and Advisory services. With the unique depth of thought combined with the globalexpertise of leading professionals, INDEL is committed to protect and enhance the enterprisevalue of its clients. At INDEL we live through our people. INDEL is about a collective vision witha common goal that allow its people to stand together. Founded in 2009, the firm isheadquartered in New Delhi and has offices located in major financial centers.