East Asia

Aurora sees $160m profit in auto exit

The Los Angeles buyout firm has agreed to sell auto assembly components company, Autocam, to Goldman Sachs and Transportation Resource Partners.

TPG Ventures hires former Critical Path head

Bill McGlashan, who successfully turned his communications software company around, joins the venture capital affiliate of Texas Pacific Group.

3i backs €125m Hyva buyout

The UK firm has backed management in the €125m buyout of Hyva Investments, a Dutch hydraulic solutions provider to the commercial vehicle sector.

First Atlantic acquires Prestolite Electric

The New York middle-market firm buys the global manufacturer and distributor of alternators and starter motors from San Francisco private equity group Genstar Capital.

Key Principal invests in Chinese auto parts co

The Cleveland, Ohio firm leads a $100 million recapitalisation of ASIMCO, a Beijing-based automotive components manufacturer.

Gilbert Global to buy golf shaft maker

Cornerstone Equity Investors divests PGA favourite True Temper to New York-based buyout house Gilbert Global Equity Partners.

CVC readies $1bn Asia fund

CVC Capital Partners has announced plans for a follow-up vehicle to the $750m Asia fund launched in 2000 which is now 80 percent invested.

DBAG follows capital raising with SAF deal

German private equity firm Deutsche Beteiligungs (DBAG) has announced its intention to acquire a majority stake in axle manufacturer Otto Sauer Achsenfabrik Keilberg (SAF).

Asian investment reaches record high

Figures published for Asian private equity activity in 2003 reveal that a record $17.5bn was invested while fundraising was up eleven percent at $3bn.

Gilde buys Hagemeyer unit

Struggling Dutch distribution company Hagemeyer, which is currently considering the sale of part of its equity to a financial investor, has sold its technical tape unit to Gilde Investment for E33m.