M&A Deal Summary

Trustar Capital and Humanwell Healthcare Acquire LifeStyles

On May 25, 2017, private equity firm Trustar Capital and Humanwell Healthcare acquired consumer products company LifeStyles from Ansell for 600M USD

Acquisition Highlights
  • This is Trustar Capital’s 2nd and Humanwell Healthcare’s 1st transaction in the Consumer Products sector.
  • This is Trustar Capital’s 4th and Humanwell Healthcare’s largest (disclosed) transaction.
  • This is Trustar Capital’s 2nd and Humanwell Healthcare’s 1st transaction in Singapore.
Investment Fate
  • LifeStyles was sold to a consortium of buyers in 2022.

M&A Deal Summary
Date 2017-05-25
Target LifeStyles
Sector Consumer Products
Buyer(s) Trustar Capital
Humanwell Healthcare
Sellers(s) Ansell
Deal Type Divestiture
Deal Value 600M USD

Target

LifeStyles

Singapore, Singapore
website
LifeStyles is specialized in sexual wellness sector, possessing a broad product range. LifeStyles was founded in 1905 and is based in Singapore.

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Buyer(S) 2

Buyer

Trustar Capital

Hong Kong, China

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1978
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trustar Capital is the private equity arm of financial services/asset manager CITIC Group. Trustar Capital separates its private equity investment activity into three groups; China, Japan, and the US. In general, Trustar looks to invest in companies with 'strong franchises', with established brands and high barriers to entry. For US-based opportunities, the firm looks to leverage its connections in China. Broad areas of interest include niche manufacturing, consumer products, and business services. The Firm does not invest in start-ups or distressed businesses. Trustar Capital is based in Hong Kong.

DEAL STATS #
Overall 30 of 52
Sector (Consumer Products) 2 of 5
Type (Divestiture) 1 of 5
Country (Singapore) 2 of 3
Year (2017) 2 of 3
Size (of disclosed) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-18 Aavid Thermalloy

Concord, New Hampshire, United States

Aavid, through its global network of manufacturing and design centers, provides a broad range of technologically advanced thermal management solutions for aerospace and defense, telecommunication, LED lighting, server, data center, consumer electronics, transportation, and industrial applications to customers all over the world.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-27 Wall Street English

Hong Kong, China

Wall Street English is a provider of English language training to adults. Wall Street English was founded in 1972 and is based in Hong Kong, China.

Buy -
Buyer

Humanwell Healthcare

Wuhan, China

website

Category Company
Founded 1993
Sector Life Science
Employees15,746
Revenue 20.4B CNY (2021)
DESCRIPTION

Humanwell Healthcare (Group) Co. is a fully integrated healthcare solution provider in Asia Pacific, North America, Europe and Africa. Founded in 1993 by a group of passionate college graduates, Humanwell has since transformed into a fully integrated healthcare solution provider. Headquartered at the center of China, Humanwell has been active presence in over 10 countries and districts to date. Since its establishment, Humanwell has been endeavouring to bring safe and effective medicines to the world through the quality of its products and the integrity of its people. Humanwell Healthcare (Group) was founded in 1993 and is based in Wuhan, China.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Products) 1 of 1
Type (Divestiture) 1 of 1
Country (Singapore) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-13 Wuhan Biological Products Research Institute

Wuhan, China

Wuhan Biological Products Research Institute Co. Ltd. develops, manufactures and commercialises plasma-derived products for the Chinese domestic market. This includes albumin, immunoglobulin (Ig) for IV injection, as well as several hyperimmune Ig products. The company also has an advanced pipeline of multiple coagulation factor products that it plans to launch in the coming years, including plasma-derived Factor VIII. In addition, Ruide owns four plasma collection centres and one manufacturing facility in Wuhan, Central China.

Sell $352M

Seller(S) 1

SELLER

Ansell

Richmond, Australia

website

Category Company
Founded 1893
Sector Healthcare Services
Employees13,513
Revenue 1.6B USD (2020)
DESCRIPTION

Ansell is a provider of superior health and safety protection solutions that enhance human well-being. Ansell was founded in 1893 and is based in Richmond, Australia.

DEAL STATS #
Overall 3 of 3
Sector (Consumer Products) 2 of 2
Type (Divestiture) 3 of 3
Country (Singapore) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-30 Nitritex

Suffolk, United Kingdom

Nitritex Ltd. is a manufacturer of premium cleanroom and healthcare Life Sciences consumables. Nitritex products include gloves, goggles, disposable & reusable garments, facemasks, chemo safety wear, wipes and a range of accessories.

Buy £57M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 Ringers Technologies

Houston, Texas, United States

Ringers Technologies is a provider of personal protective equipment. Ringers designs and sells high-specification gloves demonstrated to have cost-effectively mitigated hand injuries.

Buy -
Mergr

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