Add-on Acquisition • Marine

Eredene Capital and Standard Chartered Principal Finance Exits Ocean Sparkle

On June 13, 2013, Infrastructure India Holdings Fund invested in marine company Ocean Sparkle from Eredene Capital and Standard Chartered Principal Finance for 8M GBP

Investment Context
  • This is Infrastructure India Holdings Fund’s 1st transaction in the Marine sector.
  • This is Infrastructure India Holdings Fund’s 0th largest (disclosed) transaction.
  • This is Infrastructure India Holdings Fund’s 2nd transaction in India.

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Investment Summary

Date June 13, 2013
Target Ocean Sparkle
Sector Marine
Investor(s) Infrastructure India Holdings Fund
Sellers(s) Eredene Capital
Standard Chartered Principal Finance
Deal Type Add-on Acquisition
Deal Value 8M GBP

Target Company

Ocean Sparkle

Hyderabad, India
Ocean Sparkle Limited (OSL) is a leading service provider in the Comprehensive Port Operations & Management Sector in India. Since its establishment in the year 1995, we have demonstrated exemplary project management skills.
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Investor Overview 1

Investor
DESCRIPTION

nfrastructure India Holdings Fund LLC specializes in investments in the infrastructure in India.


Deal Context for Investor #
Overall 2 of 2
Sector: Marine 1 of 1
Type: Add-on Acquisition 2 of 2
Country: India 2 of 2
Year: 2013 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-01 Western M P Infrastructure Toll Roads Pvt.

Mumbai, India

Western M P Infrastructure Toll Roads Pvt. Ltd. is a operator of 25 kilometre toll road in the central Indian state of Madhya Pradesh with a 25-year concession.

Buy -

Seller Profiles 2

SELLER

Eredene Capital

London, United Kingdom

Category Private Equity Firm
Founded 2005
Size Middle-Market
Type Sector Focused
DESCRIPTION

Eredene Capital PLC is a publicly traded investment firm focused on infrastructure assets in India. Areas of interest include ports and ports services (port development, new terminals, rail linked depots, container depots/distribution), logistics and warehousing (third party logistics services, logistics parks, distribution services, warehousing facilities), and transportation (airports, rail networks, roads and roads services). Eredene looks to hold at least a 20% interest and takes an active role in management decisions. Eredene was formed in 2005 and is based in London with an additional office in Mumbai.


Deal Context for Seller #
Overall 1 of 1
Sector: Marine 1 of 1
Type: Add-on Acquisition 1 of 1
Country: India 1 of 1
Year: 2013 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 Ocean Sparkle

Hyderabad, India

Ocean Sparkle Limited (OSL) is a leading service provider in the Comprehensive Port Operations & Management Sector in India. Since its establishment in the year 1995, we have demonstrated exemplary project management skills.

Buy -
DESCRIPTION

Standard Chartered Principal Finance (SCPF) is the alternative asset investment arm of international bank Standard Chartered. SCPF is split into four segments. These include Corporate Private Equity, Real Estate, Infrastructure, and Alternative Investments. SCPF's Corporate Private Equity Group invests across a range of mid to late stage companies in a variety of sectors throughout the Middle East, Asia, and Africa. The Group looks for businesses with motivated management, sustainable business models, and a track record of strong cash-flows. The segment seeks to invest $25 to $100 million to fund expansion needs or management buyouts. SCPF's Real Estate Group targets real estate opportunities in Asia, Africa and the Middle East, with a primary focus on China, India, Singapore, Hong Kong, Korea and Taiwan. The Real Estate Group will consider equity or mezzanine investments in existing assets, as well as development projects and corporate level investments in real estate owners or developers. SCPF's Infrastructure unit focuses on Chinese or Indian assets across transportation, energy, power, water, environment, telecom and urban infrastructure. SCPF's Alternative Investments practice targets distressed and high-yield opportunities. Standard Chartered Principal Finance is based in Singapore, with additional offices around the world.


Deal Context for Seller #
Overall 1 of 11
Sector: Marine 1 of 1
Type: Add-on Acquisition 1 of 2
Country: India 1 of 4
Year: 2013 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-14 ETG

Dar es Salaam, Tanzania

ETG owns and manages a vertically-integrated agriculture supply chain with operations in procurement, processing, warehousing, transportation, distribution and merchandising. ETG has more than 7,000 employees across 30 African countries and operates 30 processing plants and 300 warehouses. ETG connects African smallholder farmers to consumers around the world by procuring, processing and distributing agricultural commodities including maize, pulses, wheat, rice, cashew nuts, soya, fertilizer, sugar, coffee and tea.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-14 Choppies

Gaborone, Botswana

Choppies is an operator of more than 100 supermarkets and hyperstores, employing more than 10,000 people, in Botswana, South Africa, and Zimbabwe. The Company has grown from a single outlet back in 1986, to become the largest retailer and largest private-sector employer in Botswana. Festus Mogae, the former President of Botswana, is the Chairman of the Choppies Board of Directors. Choppies was founded in 1986 and is based in Gaborone, Botswana.

Buy -

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