M&A Deal Summary

AION India Investment Advisors and HarbourVest Partners Acquire Clix Capital

On March 3, 2016, distressed investor AION India Investment Advisors and private equity firm HarbourVest Partners acquired financial services company Clix Capital from General Electric

Acquisition Highlights
  • This is AION India Investment Advisors’ 1st and HarbourVest Partners’ 10th transaction in the Financial Services sector.
  • This is AION India Investment Advisors’ 1st and HarbourVest Partners’ 3rd transaction in India.

M&A Deal Summary

Date 2016-03-03
Target Clix Capital
Sector Financial Services
Buyer(s) AION India Investment Advisors
HarbourVest Partners
Sellers(s) General Electric
Deal Type Divestiture

Target

Clix Capital

Gurgaon, India
Clix Capital is a provider of asset-based, cash flow and structured loans. Company offer corporate debt solutions across diverse industry sectors, namely healthcare, IT, manufacturing, media, energy, automobile, aviation and business services. Clix Capital was founded in 2016 and is based in Gurgaon, Haryana.

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Buyer(S) 2

DESCRIPTION

AION India Investment Advisors is a private investment firm focused on special situation investments throughout India. The Firm was formed in 2012 and is headquartered in Mumbai.


DEAL STATS #
Overall 1 of 2
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: India M&A 1 of 2
Year: 2016 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-22 Planetcast Media Services

Noida, India

Planetcast Media Services is a technology service provider specializing in uplinking and downlinking services for broadcasting and satellite communication industries. Planetcast Media Services was founded in 1996 and is based in Noida, Uttar Pradesh.

Buy -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 139 of 214
Sector: Financial Services M&A 10 of 15
Type: Divestiture M&A Deals 9 of 14
Country: India M&A 3 of 3
Year: 2016 M&A 3 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-01 CrownRock Minerals

Midland, Texas, United States

CrownRock Minerals provides developing oilfields and buying minerals and royalties. CrownRock Minerals is based in Midland, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-06 Solace Systems

Ottawa, Ontario, Canada

Solace Systems provides market-leading technology for real-time, event-based movement of data. Solace’s proprietary ‘event mesh’ platform securely and reliably moves event data into, out of, and across enterprise applications. Solace Systems was founded in 2001 and is based in Ottawa, Ontario.

Buy -

Seller(S) 1

SELLER

General Electric

Boston, Massachusetts, United States

Category Company
Founded 1892
Sector Diversified
Employees205,000
Revenue 38.7B USD (2024)
DESCRIPTION
General Electric office in Dubai, United Arab Emirates.
General Electric office in Dubai, United Arab Emirates.

General Electric is a diversified technology and financial services company. Products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. General Electric was founded in 1892 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 28 of 46
Sector: Financial Services M&A 7 of 9
Type: Divestiture M&A Deals 23 of 38
Country: India M&A 1 of 1
Year: 2016 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-15 GE Appliances

Louisville, Kentucky, United States

GE Appliances is a producer of home appliances. The Company produces refrigerators, stoves, microwaves, dishwashers, washing machines, and other products.

Sell $5.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-30 GE Asset Management

Stamford, Connecticut, United States

GE Asset Management is a global asset manager with $110 billion in assets under management (as of December 31, 2015). GEAM and its predecessor organizations have been managing investments for GE’s U.S. pension and other benefit plans for over 80 years. In 1988, the firm began offering investment management products and services to investors outside GE, and today manages portfolios for more than 100 institutional clients—including corporate and public retirement plan sponsors, foundations, endowments, sovereign wealth funds, insurance companies, and GE affiliates.

Sell $485M