M&A Deal Summary

The Blackstone Group Acquires ASK Group

On February 14, 2022, private equity firm The Blackstone Group acquired financial services company ASK Group from Advent International

Acquisition Highlights
  • This is The Blackstone Group’s 16th transaction in the Financial Services sector.
  • This is The Blackstone Group’s 18th transaction in India.

M&A Deal Summary

Date 2022-02-14
Target ASK Group
Sector Financial Services
Buyer(s) The Blackstone Group
Sellers(s) Advent International
Deal Type Secondary Buyout
Advisor(s) Nomura Investment Bank
KPMG Corporate Finance (Financial)
AZB & Partners (Legal)

Target

ASK Group

Mumbai, India
ASK Group is an equity portfolio management service provider, a real estate investment manager, and one of the country’s top wealth managers. ASK Group was founded in 1983 and is based in Mumbai, Maharashtra.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 307 of 362
Sector: Financial Services M&A 16 of 16
Type: Secondary Buyout M&A Deals 69 of 90
Country: India M&A 18 of 19
Year: 2022 M&A 4 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-14 Crown Resorts

Southbank, Australia

Crown Resorts is an international casino and gaming entity, with businesses and investments in key international markets. Crown Resorts was founded in 2007 and is based in Southbank, Australia.

Buy $8.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-15 Cloudinary

Santa Clara, California, United States

Cloudinary is a media experience platform that empowers companies to deliver visual experiences that inspire and connect by unleashing the full potential of their media. With more than 50 billion assets under management and 9,000 customers worldwide, Cloudinary is used by developers, creators, and marketers looking to upload, store, transform, manage, and deliver images and videos online. Cloudinary was founded in 2011 and is based in Santa Clara, California.

Buy -

Seller(S) 1

SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B 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 213 of 233
Sector: Financial Services M&A 25 of 25
Type: Secondary Buyout M&A Deals 52 of 59
Country: India M&A 4 of 4
Year: 2022 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-21 Encora

Scottsdale, Arizona, United States

Encora is a global digital engineering services company specializing in software product development services for fast-growing enterprises and digitally native companies whose market position and growth are driven by proprietary software products. Encora is based in Scottsdale, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-18 Grupo Tigre

Joinville, Brazil

Grupo Tigre is a multinational company with a strong international presence and leadership in civil construction and water treatment solutions. The company offers a broad product portfolio for civil construction, infrastructure, irrigation, and industrial markets. Grupo Tigre was founded in 1941 and is based in Joinville, Brazil.

Buy -