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M&A Deal Summary

Investcorp Acquires Citykart

On January 1, 2019, asset manager Investcorp acquired retailer Citykart

Acquisition Highlights
  • This is Investcorp’s 10th transaction in the Retail sector.
  • This is Investcorp’s 2nd transaction in India.

M&A Deal Summary
Date 2019-01-01
Target Citykart
Sector Retail
Buyer(s) Investcorp
Deal Type Buyout (LBO, MBO, MBI)

Target

Citykart

New Delhi, India
Citykart and its subsidiaries operate more than 68 value apparel retail stores in north Indian states of Uttar Pradesh, Bihar and Assam and also provides services to the apparel retail industry. Citykart focuses on providing affordable apparel (average selling price of US$3.50/piece) to lower income groups in smaller towns. Citykart was founded in 2016 and is based in NewDelhi, India.

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Buyer(S) 1

Buyer

Investcorp

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1982
PE ASSETS 53.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp is a global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.

DEAL STATS #
Overall 138 of 189
Sector: Retail M&A 10 of 10
Type: Buyout (LBO, MBO, MBI) M&A Deals 42 of 62
Country: India M&A 2 of 13
Year: 2019 M&A 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-10 Leejam Sport Company

Riyadh, Saudi Arabia

Leejam Sport Company is a fitness center operator. Leejam Sport Company was established in 2007 and is based in Riyadh, Saudi Arabia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-09 Ubisense - SmartSpace Business Unit

Cambridge, United Kingdom

Ubisense's SmartSpace Business Unit is an enterprise software and sensor platform that generates and interprets vast amounts of location data to create digital visibility of real-world objects and their interactions in real time, enabling complex manufacturing processes with high levels of variability to be more flexible, easier to manage and easier to control.

Buy £35M
Mergr

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