M&A Deal Summary

Shriram Finance Acquires Shriram City

On November 23, 2022, Shriram Finance acquired financial services company Shriram City from Apax

Acquisition Highlights
  • This is Shriram Finance’s 1st transaction in the Financial Services sector.
  • This is Shriram Finance’s 1st transaction in India.

M&A Deal Summary

Date 2022-11-23
Target Shriram City
Sector Financial Services
Buyer(s) Shriram Finance
Sellers(s) Apax
Deal Type Merger

Target

Shriram City

Chennai, India
Shriram City is a Non-Banking Financial Company (NBFC) and is a part of Shriram Group. Shriram City is providing specialized services in retail & Micro Small & Medium Enterprise (MSME) lending. Shriram City was formed in 1986 and is based in Chennai, India.

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Buyer(S) 1

Buyer

Shriram Finance

Mumbai, India

Category Company
Founded 1979
Sector Financial Services
Employees74,645
Revenue 196.7B INR (2024)
DESCRIPTION

Shriram Finance is a finance provider for the commercial vehicle industry with a focus on providing credit facilities to small truck owners. Shriram Finance was founded in 1979 and is based in Mumbai, India.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Merger) 1 of 1
Country (India) 1 of 1
Year (2022) 1 of 1

Seller(S) 1

SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 166 of 172
Sector (Financial Services) 4 of 4
Type (Merger) 3 of 3
Country (India) 3 of 4
Year (2022) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-09 Kepro

Nashville, Tennessee, United States

Kepro is a quality improvement and care management organization that offers innovative and outcomes-focused solutions to reduce the utilization of healthcare resources and optimize the quality of care for government and private sector clients. Kepro's comprehensive, member-centric care management solutions go far beyond traditional utilization and case management by coordinating the care provided to members with acute, chronic and complex conditions across the continuum, and identifying members who are at the highest risk for future services but have not yet had an acute event. Kepro was founded in 1985 and is based in Nashville, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 Chavat Daat

Kefar Sava, Israel

Chavat Daat is a private specialty veterinarian hospital for household pets in the center of Israel. The hospital, which operates 24/7 and has over 100 employees, offers Imaging, Surgery and Orthopedics, Neurological, and Emergency services. Chavat Daat was founded in 2008 and is based in Kefar Sava, Israel.

Buy -