M&A Deal Summary

Hillhouse Acquires AI Dream

On August 25, 2021, private equity firm Hillhouse acquired retailer AI Dream from Advent International

Acquisition Highlights
  • This is Hillhouse’s 1st transaction in the Retail sector.
  • This is Hillhouse’s 4th transaction in China.

M&A Deal Summary

Date 2021-08-25
Target AI Dream
Sector Retail
Buyer(s) Hillhouse
Sellers(s) Advent International
Deal Type Secondary Buyout

Target

AI Dream

Shanghai, China
AI Dream is a branded sleep solution provider and one of the largest players in China’s premium mattress market. Its differentiated product offering includes mattresses, bed frames, smart beds, and customized bedroom solutions. AI Dream was founded in 2018 and is based in Shanghai, China.

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Buyer(S) 1

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 10 of 11
Sector (Retail) 1 of 1
Type (Secondary Buyout) 3 of 3
Country (China) 4 of 4
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-25 Versuni

Amsterdam, Netherlands

Versuni provides kitchen, coffee, garment care and home care appliances. Versuni is based in Amsterdam, Netherlands.

Buy $3.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-09 George Clinical

Newtown, Australia

George Clinical provides the full range of clinical trial services to biopharmaceutical, medical device, and diagnostic customers, for all trial phases, registration and post-marketing trials. George Clinical was founded in 2005 and is based in Newtown, Australia.

Buy -

Seller(S) 1

SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 201 of 223
Sector (Retail) 17 of 17
Type (Secondary Buyout) 51 of 58
Country (China) 1 of 1
Year (2021) 13 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-25 bareMinerals

New York, New York, United States

bareMinerals is a provider of mineral-based cosmetics and creator of clean beauty and makeup products. bareMinerals is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-08 Distribution International

Houston, Texas, United States

Distribution International (DI) is a distributor of thermal and acoustical insulation and related supplies for maintenance and repair operations in the United States. DI serves power generation facilities, petrochemical and industrial refinery plants, governmental and institutional buildings, military and commercial vessels and offshore rigs as well as other facilities and industries. Distribution International was founded in 1986 and is based in Houston, Texas.

Sell $1.0B