The document summarizes M&A and private equity deals that took place in February 2015. There were 113 deals worth US$ 3.4 billion, higher than the same period in 2014 in terms of both volume and value. Key deals included Mylan acquiring Famy Care for US$ 750 million and Equis Funds investing US$ 116 million in Assetz Property.
The document summarizes M&A and private equity deals that took place in February 2015. There were 113 deals worth US$ 3.4 billion, higher than the same period in 2014 in terms of both volume and value. Key deals included Mylan acquiring Famy Care for US$ 750 million and Equis Funds investing US$ 116 million in Assetz Property.
The document summarizes M&A and private equity deals that took place in February 2015. There were 113 deals worth US$ 3.4 billion, higher than the same period in 2014 in terms of both volume and value. Key deals included Mylan acquiring Famy Care for US$ 750 million and Equis Funds investing US$ 116 million in Assetz Property.
The document summarizes M&A and private equity deals that took place in February 2015. There were 113 deals worth US$ 3.4 billion, higher than the same period in 2014 in terms of both volume and value. Key deals included Mylan acquiring Famy Care for US$ 750 million and Equis Funds investing US$ 116 million in Assetz Property.
Dealtracker Providing M&A and Private Equity Deal Insights
2015 Grant Thornton India LLP. All rights reserved.
Disclaimer
Dealtracker editorial team:
This document captures the list of deals announced based on information available in the public domain and based on public announcements. Grant Thornton India LLP does not take any responsibility for the information, any errors or any decision by the reader based on this information. This document should not be relied upon as a substitute for detailed advise and hence, we do not accept responsibility for any loss as a result of relying on the material contained herein. Further, our analysis of the deal values are based on publicly available information and based on appropriate assumptions (wherever necessary). Hence, if different assumptions were to be applied, the outcomes and results would be different.
Monica Kothari, Sowmya Ravikumar
Deal Round Up February 2015
Deal summary
Volume
Highlights
Value (US$mn)
2015 This month witnessed 113 deals worth US$ 3.4 billion, which
2013
2014
2015
2013
2014
Domestic
26
21
23
436
385
867
Cross-border
12
28
17
2,090
1,346
1,832
30
2,556
1,736
55%
73
402
794
7%
Merger & Internal
Restructuring
was higher in terms of volume (40%) and value (36%) as
compared to the same period in 2014.
February 2015 saw a 125% increase in domestic deal values.
Even though the volume of cross-border transaction 0 decreased by 65%, the value of transaction rose by 36%. 2,699 Inbound deals continued to witness an upward trend, led by the Mylan Inc-Famy Care deal worth US$ 750 million and 3 737 other deals of over US$ 100 million each.
Total M&A
45
50 20% 40
Private Equity
30
31
Grand Total Cross border includes Inbound
75
81
113
2,958
2,530
3,436 PE investments grew 135% in volume as compared to the
18
2,024
1,224
1,554
10
66
122
Outbound
135%
corresponding month last year, largely driven by e-commerce
deals.
278 The month also saw 2 QIPs worth US$ 425 million and 1
IPO. Total Deal Volume Trend February 2015
Total Deal Value Trend (US$ mn) February 2015
794
PE
737
73
2013
402
31
30
2014 2015
2024
26
1554 1224
21
23 18
M&A
867 436 385 30
Domestic
66 122
Internal Restructuring
Inbound
2015 Grant Thornton India LLP. All rights reserved.
Outbound
278
1 Domestic
10
4 0
Internal Restructuring
Inbound
Outbound
M&A Round Up February 2015
Key Sectors Notable Sectors
Top Sectors based on Deal Value (US$ mn)
Volume
IT & ITES
US$ mn
10
240
Retail & Consumer
253
Manufacturing
220
Pharma, Healthcare &
Biotech
772
Media & Entertainment
412
Pharma, Healthcare & Biotech 29%
The IT&ITeS sector drove M&A deal
activity in terms of volumes with ecommerce continuing to play a key role within the sector. The Pharma sector saw the fourthbiggest inbound M&A ever in the country, with the acquisition of the Famy Care by Mylan
invests US$ 116 mn in Bangalore-based developer Assetz Property.
Sector : Pharma, Healthcare & Biotech
Sector : Real estate
development
Mylan Inc. is one of the
leading global generics and specialty pharmaceuticals company.
Target
Famy Care is a specialty
women's healthcare company with global leadership in generic oral contraceptive products (OCPs).
Rationale The acquisition will build on Mylan's existing partnerships with Famy Care in North America, Europe and Australia, and make Mylan a hormonal contraceptives leader in high-growth emerging markets around the world
2015 Grant Thornton India LLP. All rights reserved.
Investor
Equis Funds Group invests
across infrastructure and energy space in Asia and provides growth and expansion capital to companies.
Investee
Assetz Property Group
(APG) is in the business of real estate development and business portfolio management with a secondary focus on infrastructure development in the Asia region.
Comments APG has plans for mid-income housing townships spread across 20 million square feet, with amenities including schools, aged care facilities, health centres, public amenities, localised shopping centres and recreation facilities.
Deal List
2015 Grant Thornton India LLP. All rights reserved.
I. M&A Deals Acquirer
Target
Sector
Mylan Inc - Mylan Laboratories
Famy Care Ltd Limited
Pharma, Healthcare & Biotech
Undisclosed
Bharti Airtel Ltd
Telecom
Infosys Technologies Ltd
Panaya Inc
IT&ITES
Sembcorp Industries Ltd
Green Infra Ltd
Energy & Natural
Resources
Balasore Alloys Ltd- Ispat Group Rohit Ferro-Tech Ltd
Manufacturing
US$ mn
750.00
310.48 200.00 168.50 164.50
ITC Ltd
Blue Coast Hotels Ltd- Park Hyatt
Hotel
Hospitality & Leisure
Sundaram Finance Ltd
Royal Sundaram Alliance Insurance
Banking & Financial
Services
Tubacex SA
Prakash Steelage Limited- seamless
Manufacturing stainless steel tube division
40.00
Cipla Limited
Jay Precision Pharmaceuticals Pvt
Ltd
15.40
Future Consumer Enterprise Ltd Aadhaar Wholesale Trading and
(FCEL) Distribution Limited
2015 Grant Thornton India LLP. All rights reserved.
Pharma, Healthcare & Biotech Retail & Consumer
82.80 72.40
9.00
Deal Type
Acquisition
Minority Stake
% Stake
Domestic/ Crossborder
100% Inbound
3%
Domestic
Acquisition
100% Outbound
Majority Stake
60%
Acquisition
100% Domestic
Acquisition
100% Domestic
Increasing stake to 75.90%
26%
Domestic
Majority Stake
68%
Inbound
Majority Stake
60%
Domestic
Increasing stake to 100%
30%
Domestic
Inbound
I. M&A Deals Acquirer
Target
Sector
US$ mn
LiveMinds Solutions Pvt LtdBookMyCab.com
Eventifier
IT & ITES
Ipca Laboratories Ltd
Krebs Biochemicals & Industries Ltd
Pharma, Healthcare &
Biotech
eMedEvents Corporation
OMICS International
IT&ITES
Warren Tea Ltd
Pressman Advertising Ltd
Media & Entertainment
1.10
Dalmia Cement (Bharat) Ltd
OCL India Ltd
Manufacturing
Godrej Consumer Products Ltd Darling Group Holdings
Mitsubishi Corp
Deal Type
% Stake
Domestic/ Crossborder
Majority Stake
N.A.
Domestic
Minority Stake
19%
Domestic
Strategic Stake
N.A.
Inbound
Minority Stake
9%
Domestic
N.A.
Increasing stake to 74.6%
27%
Domestic
Retail & Consumer
N.A.
Increasing stake to 90%
39%
Outbound
Indo Nissin Foods Limited
Retail & Consumer
N.A.
Strategic Stake
34%
Inbound
Quest Global Engineering
EDF GmbH
Automotive
N.A.
Acquisition
100% Outbound
Brick Eagle
DBS Affordable Home Strategy
Limited
Real Estate
N.A.
Strategic Stake
49%
Domestic
Ajay Singh
SpiceJet Ltd
Aerospace & Defense
N.A.
Majority Stake
58%
Domestic
2015 Grant Thornton India LLP. All rights reserved.
2.00
1.50 1.25
I. M&A Deals Acquirer
Target
Sector
US$ mn
Deal Type
% Stake
Domestic/ Crossborder
News Corporation
MAA Television Network- broadcast Media &
rights Entertainment
N.A.
Acquisition
100% Inbound
ITC Ltd
Johnson & Johnson- Savlon &
Shower to shower
Retail & Consumer
N.A.
Acquisition
100% Outbound
Entertainment Network (India)
Ltd- Radio Mirchi
TV Today Network Limited - Oye FM
Media & Entertainment
N.A.
Acquisition
100% Domestic
Godrej- Natures Basket
EkStop Shop Pvt Ltd
IT & ITES
N.A.
Acquisition
100% Domestic
SILA Solutions Pvt Ltd
Envocare Pest Control Services
Retail & Consumer
N.A.
Majority Stake
51%
Exotel Techcom Pvt Ltd
Croak.it
IT&ITES
N.A.
Acquisition
100% Outbound
Foodpanda.com
JustEat- India
IT & ITES
N.A.
Acquisition
100% Outbound
Adfactors PR
Yorke Communications Pvt ltd
Professional / Business Services
N.A.
Acquisition
100% Domestic
Mahindra Group
Nest Childcare Services Pvt Ltd Babyoye.com
IT & ITES
N.A.
Acquisition
100% Domestic
RJ Corp
iClinic Healthcare Pvt Ltd
IT&ITES
N.A.
Acquisition
100% Domestic
2015 Grant Thornton India LLP. All rights reserved.
2015 Grant Thornton India LLP. All rights reserved.
9%
Domestic
Domestic
II. Private Equity
Investor
Investee
Sector
% Stake
Equis Funds Group
Assetz Property
Real Estate
N.A.
Tybourne Capital, Valiant Capital Sequoia
Capital, Sofina and ru-Net
Accelyst Solutions Pvt Ltd- Freecharge.in
IT & ITES
N.A.
Temasek and Norwest Venture Partners
Manthan Software Services Pvt Ltd
IT & ITES
N.A.
Falcon Edge Capital, Matrix Partners India,
Ver Se Innovation Pvt Ltd - Newshunt Sequoia Capital India and Omidyar Network
IT & ITES
N.A.
Piramal Fund Management and Aditya Birla
Adarsh Developers- Bangalore project Real Estate Fund
Real Estate
N.A.
Creador
Ashiana Housing Ltd
Real Estate
5%
Sequoia Capital and Matrix Partners
Practo Technologies Pvt Ltd
IT & ITES
N.A.
Valiant Capital Partners,Vertex Venture
Holding, SAIF Partners, IDG Ventures
Firstcry - brainBees Solutions Pvt ltd.
IT & ITES
N.A.
Creador Advisors
PC Jeweller Ltd
Retail & Consumer
3%
Lightbox Ventures & Sequoia Capital
Faaso's Food Services Pvt Ltd
Hospitality & Leisure
N.A.
2015 Grant Thornton India LLP. All rights reserved.
US$ mn
116.00
80.00 60.00 40.00 33.00 32.26 30.00
26.00
23.00
20.00
II. Private Equity
Investor
Sector
% Stake
IT & ITES
N.A.
Tiger Global, Times Internet and Zodius
Culture Machine Media Pvt Ltd Capital
IT & ITES
N.A.
Matrix Partners,Sequoia Capital and
Nexus Venture Partners
TinyOwl Technology Pvt Ltd
IT & ITES
N.A.
Individual investors - Nandan Nilekani
and Rakesh Jhunjhunwala
Coffee Day Enterprises Ltd
Hospitality & Leisure
N.A.
Sequoia Capital, SAIF Partners and
Aspada
Zen Lefin Pvt Ltd- Capital Float
Banking & Financial Services
N.A.
Energy & Natural Resources
N.A.
Nexus Venture Partners and Matrix
Partners.
Investee
Inasra Technologies Pvt Ltd- Stayzilla.com
Fidelity Growth Partners India, Deutsche
Greenlight Planet Bank and Global Partnerships Undisclosed
Smart Trip Tour & Travels Private LimitedSmartairtrip.com
IT & ITES
N.A.
CLSA Capital Partners
Nobel Hygiene Pvt Ltd
Retail & Consumer
N.A.
Angel Investors
Janaadhar India Pvt Ltd
Real Estate
N.A.
India Life Sciences Fund II
Comprehensive Prosthetics and Orthotics
(CPO)
Pharma, Healthcare & Biotech
N.A.
2015 Grant Thornton India LLP. All rights reserved.
US$ mn
20.00
18.00 16.13 16.00 13.00 10.00 10.00
10.00
9.70
9.68
II. Private Equity
Investor
Ventureast and Asian Healthcare Fund
Investee
Eye Gear Optics India Pvt Ltd - Ben
Franklin
Sector
% Stake
Retail & Consumer
N.A.
Motilal Oswal Private Equity Advisors Pvt
Arinna Lifesciences Pvt Ltd Ltd (MOPE)
Pharma, Healthcare & Biotech
N.A.
Gaja Capital and DSG Consumer Partners Bakers Circle (India) Pvt Ltd
Retail & Consumer
N.A.
India Life Sciences Fund II
Relisys Medical Devices
Pharma, Healthcare & Biotech
N.A.
Helion Venture Partners
Wooplr
IT & ITES
N.A.
IDFC Alternatives- India Infrastructure
Fund-II
Cargo Service Centre Pvt Limited
Transport & Logistics
26%
Sequoia Capital & Angel investors
HomeLane.com
IT & ITES
N.A.
BlackSoil Realty Investment AdvisorsBlackSoil Realty Fund I
Gala & Ghosheh Group
Real Estate
N.A.
Canbank Venture Capital Fund
ESDS Software Solution Pvt Ltd
IT & ITES
N.A.
Tiger Global and angel investors
ADA News in Shorts Pvt Ltd- News in
shorts
IT & ITES
N.A.
IDG Ventures India
Abhiman Technologies Pvt Ltd myNoticePeriod.com
IT & ITES
N.A.
2015 Grant Thornton India LLP. All rights reserved.
US$ mn
6.50
6.45
6.00
5.16 5.00 4.60 4.50 4.10 4.00 4.00 3.00
II. Private Equity
Investor
Investee
Sector
% Stake
SAIF Partners and Fulcrum Capital
NoBroker Technologies Solutions Pvt Ltd
IT & ITES
N.A.
ChrysCapital
Pratibha Industries Ltd
Infrastructure Management
4%
Axilor Ventures
VigyanLabs Innovation
IT & ITES
N.A.
SAIF Partners
MTech Engineering Pvt Ltdindustrybuying.com
IT & ITES
N.A.
Mumbai Angels
Faaya.com
IT & ITES
N.A.
Orios Venture Partners
Yumist Foodtech Private Limited
IT & ITES
N.A.
Axilor Ventures
SellerworX Online Services
IT & ITES
N.A.
Angel Investors
Outletwise Retail Private Limited20Dresses.com
IT & ITES
N.A.
ah! Ventures, Lets Venture, and Mantra
iTraveller Tours Pvt Ltd- iTraveller.com Ventures
IT & ITES
N.A.
InterGlobe Technology Quotient &
Lantern Capital
IT & ITES
N.A.
Trip38 Technologies Pvt Ltd
2015 Grant Thornton India LLP. All rights reserved.
US$ mn
3.00
2.45 2.00 2.00 1.02 1.00 1.00
1.00
1.00
1.00
II. Private Equity
Investor
Investee
SAIF Partners and Accion, - fund Venture
Aye Finance Lab
Sector
% Stake
Banking & Financial Services
N.A.
Angel Investors
Right Axis Eye Hospital Private LimitedAkshara Eye Hospital
Pharma, Healthcare & Biotech
N.A.
India Quotient and Kae Capital
Fingertip Foods Pvt Ltd - Frsh.com
IT & ITES
N.A.
AngelPrime
Nimble Wireless Pvt. Ltd
IT & ITES
N.A.
Culcatta Angels, VentureNurserys angels
Klip.in and Mumbai angels
IT & ITES
N.A.
Unitus Seed Fund and angel investors
Caravan Craft Retail Pvt Ltd
Retail & Consumer
N.A.
Mumbai Angels
Leaf Technology
IT & ITES
N.A.
Quotient Fund
HolaChef Hospitality Private Limited
IT & ITES
N.A.
Sol Primero and angel investor
Findulum Techlabs Pvt Ltd. - SmartPocket
IT & ITES
N.A.
Mumbai Angels
Chloroplast Foods(snackexperts.com)
IT & ITES
N.A.
Angel Investors
Retailworx Pvt Ltd- Freshworld
Retail & Consumer
N.A.
2015 Grant Thornton India LLP. All rights reserved.
US$ mn
1.00
0.61 0.51 0.50 0.50 0.48 0.34
0.32
0.24
0.23 N.A.
II. Private Equity
Investor
Investee
Sector
% Stake
Mumbai Angels
Dealwithus
IT & ITES
N.A.
Mumbai Angels
CleverSharks
IT & ITES
N.A.
Mumbai Angels
InstaBounce
IT & ITES
N.A.
Angel Investors
TaxSutra Services Pvt Ltd
IT & ITES
N.A.
Angel Investors
Couponmachine.in
IT & ITES
N.A.
Angel Investors
Sattviko
Hospitality & Leisure
N.A.
Angel Investors
Aisle Network Pvt Ltd
IT & ITES
N.A.
TPG Growth
Sutures India
Pharma, Healthcare & Biotech
25%
N.A.
Carlyle Group
Destimoney Enterprises Private Limited
(DEPL)
Banking & Financial Services
N.A.
N.A.
ChrysCapital
Ipca Laboratories Ltd
Pharma, Healthcare & Biotech
1%
N.A.
Omidyar Network, Blume Ventures,
Mumbai Angels and Hyderabad Angels
NowFloats Technologies Pvt. Ltd
IT & ITES
N.A.
N.A.
2015 Grant Thornton India LLP. All rights reserved.
US$ mn
0.21
0.19 0.16 0.16 0.14 0.11 0.10
II. Private Equity
Investor
Investee
Sector
% Stake
US$ mn
Splice Advisors
Kobster Eshop Pvt Ltd - Kobster.com
IT & ITES
N.A.
N.A.
Angel Investors
Cardekho.com -GirnarSoft Automobiles Pvt.
Ltd
IT & ITES
N.A.
N.A.
Mangrove Capital Partners
LocalCube Commerce Pvt Ltd- Storeking
IT & ITES
N.A.
N.A.
Angel Investors
CarTrade.com
IT & ITES
N.A.
N.A.
Angel Investors
FindYahan India Private LimitedFindyahan.com
IT & ITES
N.A.
N.A.
Angel Investors
Dyulok Technologies Pvt Ltd- Townscript.com IT & ITES
N.A.
N.A.
Upaya Social Ventures and Artha
Initiative
Tamul Plates Marketing Pvt Ltd
Retail & Consumer
N.A.
N.A.
Mumbai Angels and Angel investors
NextGen PMS Pvt Ltd
IT & ITES
N.A.
N.A.
Angel Investors
SquadRun Inc
IT & ITES
N.A.
N.A.
Sequoia Capital
Nuvo Logistics Private Limited- PepperTap
IT & ITES
N.A.
N.A.
2015 Grant Thornton India LLP. All rights reserved.
III. IPO Company Name
Sector
Akme Star Housing Finance Ltd
Banking & Financial
Services
Issue Price
Equity Offered
Capital Raised INR mn
Capital Raised US$ mn
30
1,600,000
48
0.80
IV. QIP Investee
HDFC Bank Limited
Sector
Banking & Financial Services
% Stake
US$ mn
N.A. 333.3
Mold- Tek Packaging Limited
Manufacturing
2015 Grant Thornton India LLP. All rights reserved.
N.A.
91.7
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