Investment Summary

Symphony International Holdings Limited, General Atlantic, Kedaara Capital and Investcorp Invest In ASG Eye Hospitals

On September 18, 2019, private equity firm Symphony International Holdings Limited, growth capital firm General Atlantic, private equity firm Kedaara Capital and asset manager Investcorp invested in healthcare services company ASG Eye Hospitals

Investment Highlights
  • This is Symphony International Holdings Limited’s 1st, General Atlantic’s 13th, Kedaara Capital’s 2nd and Investcorp’s 4th transaction in the Healthcare Services sector.
  • This is Symphony International Holdings Limited’s 2nd, General Atlantic’s 19th, Kedaara Capital’s 15th and Investcorp’s 3rd transaction in India.

Investment Summary

Date 2019-09-18
Target ASG Eye Hospitals
Sector Healthcare Services
Investor(s) Symphony International Holdings Limited
General Atlantic
Kedaara Capital
Investcorp
Deal Type Growth Capital
Advisor(s) ICICI Securities (Financial)
AZB & Partners (Legal)

Target

ASG Eye Hospitals

Jodhpur, India
ASG Eye Hospitals provides comprehensive diagnostic, treatment and surgical services through the latest technology in eye care. ASG Eye Hospitals was started by AIIMS (New Delhi) trained doctors and recruits the majority of their doctors from their alma mater. ASG Eye Hospitals was founded in 2005 and is based in Jodhpur, Rajasthan.

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Investor(S) 4

Investor
DESCRIPTION

Symphony International Holdings Limited is a publicly-traded investment firm focused on private-equity transactions across Asia and the Pacific. The Firm will consider investments in India, China, Australia, Indonesia, Malaysia, Singapore, Taiwan, Thailand and the emerging markets of Vietnam and Sri Lanka. Symphony targets growth oriented consumer businesses in the healthcare, hospitality, and lifestyle sectors. The Firm prefers control investment situations. Symphony was formed in 2004 and is based in Singapore, with an additional office in Hong Kong.


DEAL STATS #
Overall 7 of 7
Sector: Healthcare Services M&A 1 of 1
Type: Growth Capital M&A Deals 4 of 4
Country: India M&A 2 of 2
Year: 2019 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 Soothe Healthcare

New Delhi, India

Soothe Healthcare manufactures, distributes and markets personal hygiene products under brands like Paree Sanitary Pads and Super Cute's baby diapers. Soothe Healthcare was founded in 2012 and is based in New Delhi, India.

Buy -
Investor

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 105.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in New York, New York.


DEAL STATS #
Overall 233 of 364
Sector: Healthcare Services M&A 13 of 25
Type: Growth Capital M&A Deals 97 of 140
Country: India M&A 19 of 25
Year: 2019 M&A 21 of 24
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-13 Qontigo

Eschborn, Germany

Qontigo is a financial intelligence provider and portfolio risk and analytics software business. Qontigo was founded in 2019 and is based in Eschborn, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-19 360 One Wam

Mumbai, India

360 One Wam is a provider of financial products and services in India. 360 One Wam was founded in 2008 and is based in Mumbai, Maharashtra.

Sell -
Investor

Kedaara Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 5.6B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kedaara Capital is an operationally oriented private equity firm focused on control and select minority investments in India. The Firm is a generalist investor, with no sector preferences and looks to commit $25 to $75 million per transaction. The Firm does not invest in seed or early stage companies or in businesses where the market is unproven. Kedaara Capital was established 2011 and is headquartered in Mumbai.


DEAL STATS #
Overall 15 of 25
Sector: Healthcare Services M&A 2 of 4
Type: Growth Capital M&A Deals 6 of 9
Country: India M&A 15 of 21
Year: 2019 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-16 Lenskart

Gurgaon, India

Lenskart is an eyewear category. Lenskart offers a diverse range of eyeglasses, sunglasses, and contact lenses through its omnichannel distribution. Lenskart was founded in 2010 and is based in Gurgaon, Haryana.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 K12 Techno Services

Bengaluru, India

K12 Techno Services is an educational services platform that provides a suite of solutions to educational institutions including academics, teacher recruitment, school administration, facilities management, and student enrolment and retention. K12 Techno Services was founded in 2010 and is based in Bengaluru, Karnataka.

Buy -
Investor

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 146 of 189
Sector: Healthcare Services M&A 4 of 7
Type: Growth Capital M&A Deals 14 of 21
Country: India M&A 3 of 13
Year: 2019 M&A 9 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-16 Vivaticket

Bologna, Italy

Vivaticket is a global provider of integrated ticketing software solutions to the leisure and entertainment, sport, culture, and tradeshow industries. Vivaticket software solutions are widely recognized for their sophistication, reliability, and ability to address the full customer experience from ticket purchasing to on-site activities. Vivaticket was founded in 1999 and is based in Bologna, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-14 Bewakoof

Mumbai, India

Bewakoof is a direct to consumer online apparel companies in India focused on providing creative and distinctive fashion at affordable prices for trendy and contemporary Indians. Bewakoof Brands was founded in 2011 and is based in Mumbai, Maharashtra.

Buy -