Hony Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

Hony Capital’s most common sectors for investment arelife science (10%) and manufacturing (8%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (27%) and growth capital (22%). In total, Hony Capital has invested in 2 US states and 7 different countries. Its largest (disclosed) acquisition occurred in 2016 when it acquired Playtika Holding for $4.4B.

In the last 3 years, Hony Capital has exited 2 companies. The Firm’s most common exit type is ipo (50%). Hony Capital’s largest (disclosed) exit occurred in 2009 when it sold Lenovo Mobile Telecom Technological Company for $200M.

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M&A Summary

  • M&A Total Activity52
    • M&A Buy Activity41
    • M&A Sell Activity11
  • Total Sectors Invested 25
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 14
  • M&A Advisors 1

Hony Capital

25/F, Hexa International Plaza, 9 Chaoyangmen North Street, Dongcheng District, ,
Beijing,
China
+86 10 6401 6888
www.honycapital.com
honymaster@honycapital.com

Hony Capital (Beijing) Co., Ltd. is a private equity firm focused on investment opportunities across China. The Firm targets buyouts and commercializations of Chinese state-owned enterprises as well as growth capital investments in rapidly-growing private Chinese companies. Hony's primary focus is within the construction materials, pharmaceuticals, construction machinery, retail, and consumer goods sectors, however, the firm will also consider opportunities in media/entertainment, financial services, energy, and resources. Hony is a long-term investor and is sponsored by Legend Holdings, parent of computer maker Lenovo amongst other properties. Hony Capital is located in Beijing, China.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Automotive, Building Materials, Communications, Consumer Products, Distribution, Electronics, Energy Services and Equipment, Financial Services, Furniture, Life Science, Machinery, Manufacturing, Media, Metals/Mining, Oil/Gas Exploration, Packaging, Plastics, Renewable Energy, Retail, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital

Geographic Preferences: Asia/Pacific

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 41 - - - - - 41
vol $7.8B $7.8B
Sell (1.2/yr) # 6 4 2 - - - 12
vol $201M $201M
  53

Most Recent M&A

Company Date Value Type
Playtika Holding Corp. 2021-01-15 - IPO
Tel Aviv, Israel · www.playtika.com
STX Productions LLC 2020-04-17 - Trade Sale
Burbank, California · www.stxentertainment.com
Phoenix Publishing & Media, Inc. 2020-01-01 - IPO
Nanjing, China · en.ppm.cn
Yatsen Trading (HK) Ltd. 2020-01-01 - IPO
Hong Kong, China · www.perfectdiary.com
I-MAB Biopharma Co., Ltd. 2020-01-01 - IPO
Shanghai, China · www.i-mabbiopharma.com
STX Productions LLC 2019-03-11 - Venture
Burbank, California · www.stxentertainment.com
Deem, Inc. 2019-01-17 - Trade Sale
Oakland, California · www.deem.com
Best Food Holding Company Ltd. 2018-12-24 100M USD Going Private
Hong Kong, China · www.bestfoodholding.com
I-MAB Biopharma Co., Ltd. 2018-09-01 - Venture
Shanghai, China · www.i-mabbiopharma.com
ByteDance 2018-01-01 - Venture
Beijing, China · www.bytedance.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Zoomlion Heavy Industry Science & Technology Development Co., Ltd. 2006-05-01 Compagnia Italiana Forme Acciaio S.p.A. 2008-09-01 2
Hunan, China · www.zoomlion.com Milano, Italy · www.cifa.com

M&A by Sector

Sector Current # Value All-time # Value
Life Science 1 (6%) - 4 (10%) -
Information Technology - - 3 (7%) -
Manufacturing 1 (6%) - 3 (7%) -
Retail 2 (12%) - 3 (7%) -
Digital Media 1 (6%) - 2 (5%) 4.4B (56%)
Restaurants 1 (6%) 1.4B (59%) 2 (5%) 1.4B (18%)
Machinery 2 (12%) 576M (25%) 2 (5%) 576M (7%)
Business Services 2 (12%) 371M (16%) 2 (5%) 371M (5%)
E-Commerce 1 (6%) - 2 (5%) -
Healthcare Services 1 (6%) - 2 (5%) -
Media - - 2 (5%) -
Consumer Products - - 1 (2%) 1.1B (14%)
Apparel/Textiles - - 1 (2%) -
Construction 1 (6%) - 1 (2%) -
Diversified - - 1 (2%) -
Environmental 1 (6%) - 1 (2%) -
Financial Services - - 1 (2%) -
Furniture - - 1 (2%) -
Internet Software and Services 1 (6%) - 1 (2%) -
Medical Products 1 (6%) - 1 (2%) -
Packaging - - 1 (2%) -
Plastics 1 (6%) - 1 (2%) -
Real Estate - - 1 (2%) -
Software - - 1 (2%) -
Technology Hardware - - 1 (2%) -
Total 17 $2.3B 41 $7.8B

Acquisitions By Geo

State/Country Current # Value All-time # Value
China 13 (76%) 371M (16%) 32 (78%) 1.5B (19%)
United States - - 3 (7%) -
  California - - 2 (5%) -
  New York - - 1 (2%) -
Italy 2 (12%) 576M (25%) 2 (5%) 576M (7%)
United Kingdom 1 (6%) 1.4B (59%) 1 (2%) 1.4B (18%)
Singapore 1 (6%) - 1 (2%) -
Israel - - 1 (2%) 4.4B (56%)
Japan - - 1 (2%) -
Domestic 13 (76%) 371M (16%) 32 (78%) 1.5B (19%)
Cross-border 4 (24%) 2.0B (84%) 9 (22%) 6.4B (81%)
Total 17 $2.3B 41 $7.8B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (29%) 271M (12%) 11 (27%) 271M (3%)
Growth Capital 3 (18%) - 9 (22%) -
Venture 3 (18%) - 7 (17%) -
Stake Purchase 2 (12%) - 6 (15%) -
Divestiture 1 (6%) 1.4B (59%) 3 (7%) 6.9B (88%)
Going Private 2 (12%) 100M (4%) 2 (5%) 100M (1%)
PIPE - - 2 (5%) -
Secondary Buyout 1 (6%) 576M (25%) 1 (2%) 576M (7%)
Total 17 $2.3B 41 $7.8B

Exits by Deal Type

Type Total # Value
IPO 6 (50%) -
Sold to Management 1 (8%) 200M (100%)
Unknown 1 (8%) 920K (< 1%)
SPAC 1 (8%) -
Stake Sale 1 (8%) -
Trade Sale 1 (8%) -
Trade Sale - Public Company 1 (8%) -
Total 12 $201M

Top M&A Advisors

Financial Deals
Jamieson Corporate Finance LLP
1

Deal Values

buy # Total
> $1B 3 $6.9B
$100M to $1B 2 $847M
< $100M 1 $100M
TOTAL $7.8B
Largest Playtika Holding Corp.
$4.4B (2016-07-30)
sell # Total
$100M to $1B 1 $200M
< $100M 1 $920K
TOTAL $201M
Largest Lenovo Mobile Telecom Technological Company
$200M (2009-12-02)

M&A Connections

Deals
Acquired from
Investor(s)
5%
2 (5%)
Strategic(s)
7%
3 (7%)
Exited to
Strategic(s)
25%
3 (25%)

FAQ

When was Hony Capital founded?

Hony Capital was founded in 2003.

What type of investor is Hony Capital?

Hony Capital is a private equity firm.

Where is Hony Capital headquartered?

Hony Capital is headquartered in Beijing, China.

How much capital does Hony Capital have under management?

Hony Capital has 10.0B USD under management.

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