M&A Deal Summary

EQT and ChrysCapital Acquire HDFC Credila

On June 20, 2023, private equity firms EQT and ChrysCapital acquired financial services company HDFC Credila from HDFC for 10.0B INR

Acquisition Highlights
  • This is EQT’s 4th and ChrysCapital’s 13th transaction in the Financial Services sector.
  • This is EQT’s 44th and ChrysCapital’s 0th largest (disclosed) transaction.
  • This is EQT’s 3rd and ChrysCapital’s 41st transaction in India.

M&A Deal Summary
Date 2023-06-20
Target HDFC Credila
Sector Financial Services
Buyer(s) EQT
ChrysCapital
Sellers(s) HDFC
Deal Type Divestiture
Deal Value 10.0B INR

Target

HDFC Credila

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

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Buyer(S) 2

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 286 of 315
Sector (Financial Services) 4 of 5
Type (Divestiture) 48 of 51
Country (India) 3 of 4
Year (2023) 7 of 16
Size (of disclosed) 44 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-13 BBS Automation

Garching, Germany

BBS Automation is a provider of flexible and high-quality automation solutions for complex manufacturing and testing processes. The company develops and manufactures tailor-made automated assembly and testing applications for customers from a wide range of industries. BBS Automation was founded in 2013 and is headquartered in Garching, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-21 Ellab

Hilleroed, Denmark

Ellab is a manufacturer of solutions for measuring, recording, monitoring, and validating critical parameters of thermal processing. Ellab offers a product range of high-precision systems for temperature, pressure, and humidity monitoring and validation based on either data loggers or thermocouple-based wired instruments. Ellab was founded in 1949 and is based in Hilleroed, Denmark.

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 STATS #
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
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, India.

Buy -

Seller(S) 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 STATS #
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
Mergr

Product

Company

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