M&A Deal Summary

Eastgate Capital Group Acquires Avendus

On July 16, 2008, Eastgate Capital Group acquired financial services company Avendus for 100M INR

Acquisition Highlights
  • This is Eastgate Capital Group’s 1st transaction in the Financial Services sector.
  • This is Eastgate Capital Group’s 0th largest (disclosed) transaction.
  • This is Eastgate Capital Group’s 1st transaction in India.
Investment Fate
  • Avendus was sold to a consortium of financial buyers in 2015 for 115M USD.

M&A Deal Summary
Date 2008-07-16
Target Avendus
Sector Financial Services
Buyer(s) Eastgate Capital Group
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 100M INR

Target

Avendus

Mumbai, India
Avendus is a provider of financial services and lays emphasis on creating customized solutions in the areas of asset management, credit solutions, investment banking, and wealth management. Avendus was formed in 1999 and is based in Mumbai, India.

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Buyer(S) 1

Buyer

Eastgate Capital Group

Dubai, United Arab Emirates
Category Private Equity Firm
Founded 2006
PE ASSETS 650M USD
Size Large
Type Sector Agnostic
DESCRIPTION

Eastgate Capital Group is a private equity group focused on opportunities across the Middle East and North Africa. In addition to investing in real estate, Eastgate will consider private equity transactions in a variety of sectors. Eastgate was formed in 2006 and is a unity of NCB Capital. The Firm is based in Dubai.

DEAL STATS #
Overall 2 of 4
Sector (Financial Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 2 of 3
Country (India) 1 of 1
Year (2008) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-03 Medicor

Cheoin-Gu Yongin, South Korea

Medicor is a medical waste disposal and laundry servicing company in South Korea with a current national market share of close to 40%.The company uses technologically advanced, environmentally sound equipment. In addition, it is expanding into the synergistic business of hospital laundry servicing. Many factors contribute to very strong growth potential for the company. These include; high barriers to entry; industry expansion due to further regulation; Medicor’s undertaking of a medical waste roll-up; and the expansion into laundry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-16 Sigma Pharmaceutical Industries SAE

Quesna, Egypt

Established in 1998, Sigma is currently the 10th largest and one of the fastest growing and most profitable pharmaceutical companies in Egypt. The company's existing portfolio and pipeline are broad, relatively young and well-matched to Egypt's therapeutical needs. Sigma is a very attractive investment for Eastgate, considering the resilience of the healthcare sector and the opportunity to tap into the growing Egyptian and regional generic pharamceutical market.

Buy -
Mergr

Product

Company

Legal