Divestiture • Financial Services

EQT Private Capital Asia and ChrysCapital Acquire Credila

On June 20, 2023, private equity firms EQT Private Capital Asia and ChrysCapital acquired financial services company Credila from HDFC for 103.5B INR

Acquisition Context
  • This is EQT Private Capital Asia’s 5th and ChrysCapital’s 13th transaction in the Financial Services sector.
  • This is EQT Private Capital Asia’s 10th and ChrysCapital’s largest (disclosed) transaction.
  • This is EQT Private Capital Asia’s 8th and ChrysCapital’s 41st transaction in India.

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M&A Deal Summary

Date June 20, 2023
Target Credila
Sector Financial Services
Buyer(s) EQT Private Capital Asia
ChrysCapital
Sellers(s) HDFC
Deal Type Divestiture
Deal Value 103.5B INR

Target Company

Credila

Mumbai, India
Credila is an education loan company, supporting tens of thousands of Indian students every year with tailored financing solutions for undergraduate and postgraduate studies. Credila was founded in 2006 and is based in Mumbai, Maharashtra.
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Buyers Overview 2

Buyer

EQT Private Capital Asia

Hong Kong, China

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT Private Capital Asia is an Asia-focused private equity group specializing in growth equity investments and buyouts of companies valued between $300 million and $1.5 billion. Baring looks for companies that require capital for organic expansion, recapitalizations, or to fund acquisitions. The Group's geographic coverage spans China, India, Japan, Singapore, Hong Kong, and Taiwan. EQT Private Capital Asia was formed in 1997 and is based in Hong Kong.


Deal Context for Buyer #
Overall 60 of 69
Sector: Financial Services 5 of 5
Type: Divestiture 8 of 9
Country: India 8 of 9
Year: 2023 2 of 5
Size (of disclosed) 10 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-25 IMG Academy

Bradenton, Florida, United States

IMG Academy supports the entire student-athlete development journey across its on-campus and online student-athlete education experiences. The Company provides a sports-focused boarding school, sports camps, online coaching, and college recruiting, and is known for its strong outcomes from the Ivy League to professional leagues. IMG Academy was formed in 1978 and is based in Bradenton, Florida.

Buy $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-24 TRYT

Tokyo, Japan

TRYT provides job placement and temporary staffing services mainly in the medical and welfare fields and on-site support through digital solutions. TRYT was founded in 2004 and is based in Tokyo, Japan.

Sell -
Buyer

ChrysCapital

Port Louis, Mauritius

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ChrysCapital Management Co. is a private investment firm focused on opportunities in India. ChrysCapital looks for companies with revenues of $50 million to $1 billion and can commit up to $250 million of equity per transaction. Target sectors include business services, consumer goods and services, financial services, healthcare and pharmaceuticals. Prospective transactions include growth investments in private and listed companies, special situations, co-investments, and management buyouts/buy-ins. ChrysCapital was formed in 1999 and is based in Port Louis, Mauritius.


Deal Context for Buyer #
Overall 50 of 54
Sector: Financial Services 13 of 13
Type: Divestiture 1 of 1
Country: India 41 of 45
Year: 2023 2 of 4
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-05 Xoriant

Sunnyvale, California, United States

Xoriant is a digital product engineering, software development, and technology services firm that delivers innovative solutions, accelerating time to market and ensuring client's competitiveness in industries like BFSI, high tech, healthcare, pharma, industrial manufacturing, retail, telecommunications, and automotive. Across all its technology focus areas – digital product engineering, DevOps, cloud, infrastructure and security, big data and analytics, data engineering, management, and governance, and IoT – every solution the company develops benefits from the product engineering pedigree. Xoriant was formed in 1990 and is based in Sunnyvale, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-18 GMM Pfaudler

Mumbai , India

GMM Pfaudler is a manufacturer of corrosion-resistant glass-lined equipment used primarily in the chemical, pharmaceutical, and allied industries in India and internationally. GMM Pfaudler was founded in 1962 and is based in Mumbai, Maharastra.

Buy -

Seller Profile 1

SELLER

HDFC

Mumbai, India

Category Company
Founded 1977
Sector Financial Services
Employees3,599
Revenue 1.09T INR (2022)
DESCRIPTION

HDFC provides long-term finance to households with the primary objective of meeting a social need of encouraging home ownership. HDFC was founded in 1977 and is based in Mumbai, India.


Deal Context for Seller #
Overall 1 of 1
Sector: Financial Services 1 of 1
Type: Divestiture 1 of 1
Country: India 1 of 1
Year: 2023 1 of 1
Size (of disclosed) 1 of 1

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