M&A Deal Summary

The Carlyle Group Acquires Hexaware

On June 1, 2021, private equity firm The Carlyle Group acquired business services company Hexaware from Baring Private Equity Asia for 3.0B USD

Acquisition Highlights
  • This is The Carlyle Group’s 32nd transaction in the Business Services sector.
  • This is The Carlyle Group’s 28th largest (disclosed) transaction.
  • This is The Carlyle Group’s 334th transaction in the United States.
  • This is The Carlyle Group’s 11th transaction in New Jersey.

M&A Deal Summary
Date 2021-06-01
Target Hexaware
Sector Business Services
Buyer(s) The Carlyle Group
Sellers(s) Baring Private Equity Asia
Deal Type Secondary Buyout
Deal Value 3.0B USD

Target

Hexaware

Princeton, New Jersey, United States
Hexaware is a niche mid-sized IT services vendor with a strong focus in domains such as BFSI, Transportation, Logistics and HR-IT solutions. The Company specializes in enterprise solutions, application management and independent testing. Hexaware employs over 8,000 people with the differentiated ERP practice addressing the IT needs of HR departments of customers. Hexaware was founded in 1990 and is based in Princetonm, New Jersey.

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Buyer(S) 1

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 698 of 744
Sector (Business Services) 32 of 34
Type (Secondary Buyout) 112 of 130
State (New Jersey) 11 of 12
Country (United States) 334 of 349
Year (2021) 11 of 28
Size (of disclosed) 28 of 137
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Novetta

McLean, Virginia, United States

Novetta is a provider of advanced technology-rich software and IT services to the Intelligence Community and Department of Defense. Novetta is based in McLean, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-05 Medline

Northfield, Illinois, United States

Medline is a healthcare company: a manufacturer, distributor and solutions provider focused on improving the overall operating performance of healthcare. Medline works with both the country’s largest healthcare systems and independent facilities across the continuum of care to provide the clinical and supply chain resources required for long-term financial viability in delivering high quality care. Medline was founded in 1966 and is based in Northfield, Illinois.

Buy $34.0B

Seller(S) 1

SELLER

Baring Private Equity Asia

Hong Kong, China

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Baring Private Equity Asia is an Asia-focused private equity group specializing in growth equity investments and buyouts of companies valued between $300 million and $1.5 billion. Baring looks for companies that require capital for organic expansion, recapitalizations, or to fund acquisitions. The Group's geographic coverage spans China, India, Japan, Singapore, Hong Kong, and Taiwan. Baring Private Equity Asia was formed in 1997 and is based in Hong Kong.

DEAL STATS #
Overall 18 of 24
Sector (Business Services) 3 of 4
Type (Secondary Buyout) 5 of 9
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2021) 2 of 4
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-03 TELUS

Vancouver, British Columbia, Canada

TELUS is a global provider of customer service, IT, and business process services to industry leaders across the telecommunications, utilities, high tech, gaming, finance, retail, e-commerce, travel and logistics, and health care sectors. With over 175 million customer interactions supported annually via voice, email, chat, and social media, across the telecommunications, utilities, high tech, gaming, finance, retail, e-commerce, travel and logistics, and health care industries, TELUS International enables customer experience innovation through spirited teamwork, agile thinking, and a caring culture that puts customers first. TELUS was incorporated in 2005 and is based in Vancouver, Brittish Columbia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-09 Logen

Seoul, South Korea

Logen is a domestic parcel delivery company focused on small and mid-volume customers in South Korea. It currently operates a nationwide network of more than 310 agencies managing over 7,200 truck drivers that handle 272 million parcels annually. Logen was formed in 1999 and is based in Seoul, South Korea.

Sell $324M
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