Private equity firms Navis Capital, Crescent Capital, and Southern Capital are considering selling some assets, according to Bloomberg reports.
Navis Capital Partners mulls sale of Imperial Treasure
Southeast Asia-focused private equity firm Navis Capital Partners is reportedly considering a potential sale of Imperial Treasure, its Michelin-starred Chinese restaurants, in a deal that could hit as much as $371 million.
Imperial Treasure, founded in 2004, owns more than 20 restaurants in Singapore, Shanghai, Guangzhou, Hong Kong, London, Incheon, and Paris. In 2015, the Kuala Lumpur-headquartered Navis acquired a majority stake in Imperial Treasure for S$60-S$80 million.
DealStreetAsia reported in November that the PE firm was seeking around $350 million for its maiden credit fund.
Navis also closed a $450-million continuation fund in 2021, which currently holds four businesses, including Australian restaurant chain Dome, Vietnam-based Godaco Seafood, Malaysia’s premium supermarket chain Food Purveyor, and Singapore-based piping firm Cladtek.
Crescent Capital weighs sale of Healthcare Australia
Australian PE firm Crescent Capital Partners is reportedly considering divesting its stake in recruiting firm Healthcare Australia in a deal that could value the company at about A$700 million ($471 million) or more.
Founded in 1972, Healthcare Australia is one of the biggest recruiters of healthcare workers in the country. Crescent acquired the company in 2018 from PE firm Ares Management and Toscafund Asset Management for an undisclosed amount.
The Bloomberg report, however, said the plan is still at an early stage and the firm could decide to keep the asset longer.
Crescent is a Sydney-based private equity firm investing in middle-market companies located in Australia and New Zealand with enterprise values between A$50 million and A$300 million.
Its investment focuses on high-growth companies and sectors or industries that are undergoing a structural change or that lend themselves to consolidation.
Southern Capital eyes divestment of Qualitas Health
Singapore-based buyout firm Southern Capital Group is considering a potential divestment of healthcare company Qualitas Health in a deal that could fetch as much as $296 million.
The regional primary healthcare service provider, headquartered in Malaysia with a presence in Australia, Singapore, and India, began its business in 1997. It currently operates 279 facilities across these markets.
Southern Capital, on the other hand, specialises in leveraged buyouts of businesses that play to Asia’s strength. It operates from two offices across Asia — Singapore and Kuala Lumpur.
