M&A Deal Summary

EQT and ChrysCapital Management Acquire HDFC Credila

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

Acquisition Highlights
  • This is EQT’s 4th and ChrysCapital Management’s 13th transaction in the Financial Services sector.
  • This is EQT’s 41st and ChrysCapital Management’s 0th largest (disclosed) transaction.
  • This is EQT’s 3rd and ChrysCapital Management’s 37th transaction in India.

M&A Deal Summary

Date 2023-06-20
Target HDFC Credila
Sector Financial Services
Buyer(s) EQT
ChrysCapital Management
Sellers(s) Housing Development Finance
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 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 50.0B 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 276 of 299
Sector (Financial Services) 4 of 4
Type (Divestiture) 47 of 49
Country (India) 3 of 3
Year (2023) 5 of 13
Size (of disclosed) 41 of 44
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 Management

Port Louis, Mauritius

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 4.0B 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 46 of 46
Sector (Financial Services) 13 of 13
Type (Divestiture) 1 of 1
Country (India) 37 of 37
Year (2023) 2 of 2
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
2024-09-09 GeBBS Healthcare Solutions

Culver City, California, United States

GeBBS Healthcare Solutions (GeBBS) specializes in revenue cycle management, health information management (HIM), and medical billing services. The company offers services designed to help US-based healthcare providers, including hospitals, health systems, and physician practices, improve their financial performance by optimizing revenue cycle processes and ensuring accurate coding and billing practices. GeBBS Healthcare Solutions was founded in 2005 and is based in Culver City, California.

Sell -

Seller(S) 1

SELLER

Housing Development Finance

Mumbai, India

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

Housing Development Finance provides long-term finance to households with the primary objective of meeting a social need of encouraging home ownership. Over the last three and a half decades, HDFC has turned the concept of housing finance for the growing middle class in India into a world-class enterprise with excellent reputation for professionalism, integrity and impeccable service. Housing Development Finance 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