M&A Deal Summary

Hillhouse, FountainVest Partners and SEEK Acquire Zhaopin

On September 29, 2017, private equity firm Hillhouse, private equity firm FountainVest Partners and SEEK acquired staffing company Zhaopin from SEEK for 1.0B USD

Acquisition Highlights
  • This is Hillhouse’s 1st, FountainVest Partners’ 1st and SEEK’s 9th transaction in the Staffing sector.
  • This is Hillhouse’s 2nd, FountainVest Partners’ and SEEK’s largest (disclosed) transaction.
  • This is Hillhouse’s 2nd, FountainVest Partners’ 3rd and SEEK’s 3rd transaction in China.

M&A Deal Summary
Date 2017-09-29
Target Zhaopin
Sector Staffing
Buyer(s) Hillhouse
FountainVest Partners
SEEK
Sellers(s) SEEK
Deal Type Going Private
Deal Value 1.0B USD

Target

Zhaopin

Beijing, China
Zhaopin is a online employment marketplace in China. The company operates zhaopin.com, a career-focused online recruitment Website that offers classified job postings and display advertisements. Zhaopin was founded in 1994 and is based in Beijing, China.

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Buyer(S) 3

Buyer

Hillhouse

Investor

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

Hillhouse Capital Management is a private investment firm focused on opportunities throughout Asia. The Firm will invest at all company stages, including seed investments, buyouts, and listed equities. Areas of interest include consumer and health. Hillhouse Capital Management is based in Hong Kong.

DEAL STATS #
Overall 4 of 11
Sector (Staffing) 1 of 1
Type (Going Private) 2 of 2
Country (China) 2 of 4
Year (2017) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-28 Belle International

Shenzhen City, China

Belle International is a large-scale fashion and sports industry group. Its business covers three major businesses: footwear, sports and apparel. Belle International was founded in 1992 and is based in Shenzhen City, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-21 Magento

Campbell, California, United States

Magento, Inc. is a provider of cloud commerce innovation to merchants and brands across B2C and B2B industries. Magento, Inc. was founded in 1985 and is based in Campbell, California.

Sell $1.7B
Buyer

FountainVest Partners

Category Private Equity Firm
Founded 2007
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FountainVest Partners is a private equity firm focused on investing in and acquiring companies in China. FountainVest is sector agnostic and seeks opportunities where it can partner with leaders operating in emerging industries. FountainVest Partners was formed in 2007 and is based in Hong Kong.

DEAL STATS #
Overall 4 of 11
Sector (Staffing) 1 of 1
Type (Going Private) 1 of 1
Country (China) 3 of 8
Year (2017) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-06 IMAX China Holding

Shanghai, China

IMAX China Holding is a cinematic technology provider, the exclusive licensee of the IMAX brand and technology and the sole platform for the release of IMAX format films in Greater China. Standing for the highest quality and most immersive motion picture entertainment experience, the IMAX brand is one of the strongest entertainment brands in Greater China. IMAX China Holding was founded in 2010 and is based in Shanghai, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-18 Pure Group

Hong Kong, China

Pure Group is Asia's wellness brand that encompasses yoga studios (Pure Yoga), online yoga video platform (MyPureYoga.com), fitness centres (Pure Fitness), raw organic healthy eating (nood food) and performance activewear (Pure Apparel), and is dedicated to helping people lead healthier lives. Pure Group was founded in 2002 and is based in Hong Kong, China.

Buy -
Buyer

SEEK

Melbourne, Australia
Category Company
Founded 1997
Sector Staffing
Employees10,000
Revenue 1.1B AUD (2024)
DESCRIPTION

SEEK is a diverse group of companies that have a unified purpose to help people live more fulfilling and productive working lives and help organisations succeed. SEEK makes a positive impact on a truly global scale with exposure to over 2.9 billion people and greater than 20% of Global GDP. SEEK was founded in 1997 and is based in Melbourne, Australia.

DEAL STATS #
Overall 15 of 15
Sector (Staffing) 9 of 9
Type (Going Private) 1 of 1
Country (China) 3 of 3
Year (2017) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-20 JobStreet.com Sdn Bhd

Kuala Lumpur, Malaysia

JobStreet.com Sdn Bhd is an internet based recruitment service provider. JobStreet was formed in 1997 and is based in Kuala Lumpur, Singapore.

Buy -

Seller(S) 1

SELLER

SEEK

Melbourne, Australia
Category Company
Founded 1997
Sector Staffing
Employees10,000
Revenue 1.1B AUD (2024)
DESCRIPTION

SEEK is a diverse group of companies that have a unified purpose to help people live more fulfilling and productive working lives and help organisations succeed. SEEK makes a positive impact on a truly global scale with exposure to over 2.9 billion people and greater than 20% of Global GDP. SEEK was founded in 1997 and is based in Melbourne, Australia.

DEAL STATS #
Overall 2 of 2
Sector (Staffing) 1 of 1
Type (Going Private) 1 of 1
Country (China) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-20 JobStreet.com Sdn Bhd

Kuala Lumpur, Malaysia

JobStreet.com Sdn Bhd is an internet based recruitment service provider. JobStreet was formed in 1997 and is based in Kuala Lumpur, Singapore.

Buy -
Mergr

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Company

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