M&A Deal Summary

RRJ Acquires Fullerton Healthcare

On August 12, 2022, private equity firm RRJ acquired healthcare services company Fullerton Healthcare from Trustar Capital

Acquisition Highlights
  • This is RRJ’s 1st transaction in the Healthcare Services sector.
  • This is RRJ’s 1st transaction in Singapore.

M&A Deal Summary

Date 2022-08-12
Target Fullerton Healthcare
Sector Healthcare Services
Buyer(s) RRJ
Sellers(s) Trustar Capital
Deal Type Recapitalization

Target

Fullerton Healthcare

Singapore, Singapore
Fullerton Healthcare is a provider of premier primary healthcare. Fullerton Healthcare was founded in 2010 and is based in Singapore.

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Buyer(S) 1

Buyer

RRJ


Category Private Equity Firm
Founded 2011
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

RRJ Capital is a large private equity firm focused on opportunities in China and Southeast Asia. The Firm predominantly targets growth capital investments as well as state-owned enterprise investments. RRJ Capital was established n 2011 and is headquartered in Hong Kong.


DEAL STATS #
Overall 3 of 3
Sector: Healthcare Services M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 1
Country: Singapore M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-03 gategroup

Zurich, Switzerland

gategroup is an independent provider of products, services, and solutions related to a passenger’s onboard experience. gategroup specializes in catering and hospitality, provisioning and logistics; and onboard products and services to companies that serve people on the move. gategroup was formed in 2008 and is based in Zurich, Switzerland.

Buy -

Seller(S) 1

SELLER

Trustar Capital

Hong Kong, China

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 8.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trustar Capital is the private equity arm of financial services/asset manager CITIC Group. Trustar Capital separates its private equity investment activity into three groups; China, Japan, and the US. In general, Trustar looks to invest in companies with 'strong franchises', with established brands and high barriers to entry. For US-based opportunities, the firm looks to leverage its connections in China. Broad areas of interest include niche manufacturing, consumer products, and business services. The Firm does not invest in start-ups or distressed businesses. Trustar Capital is based in Hong Kong.


DEAL STATS #
Overall 24 of 28
Sector: Healthcare Services M&A 2 of 2
Type: Recapitalization M&A Deals 1 of 1
Country: Singapore M&A 1 of 2
Year: 2022 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-21 Salion Foods

Beijing, China

Salion Foods specializes in R&D, manufacturing, and distribution of compound condiments and basic food ingredients. Salion Foods offers nearly a thousand SKUs covering hundreds of basic food ingredients and western flavor sauce, hotpot soup base, hotpot dipping sauce, powder seasonings and etc. Salion Foods was founded in 2000 and is based in Beijing, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-18 MedAlliance

Nyon, Switzerland

MedAlliance is a privately-owned medical technology company that specializes in development of technology and commercialization of advanced drug-device combination products for the treatment of coronary and peripheral artery diseases. MedAlliance founded in 2008 and is based in Nyon, Switzerland.

Sell $1.1B