Glenmark is a target for PE heavyweights, while Blackstone is closing in on a bid for New Tradition Media

Glenmark is a target for PE Heavyweights

According to S&P Global Market Intelligence, several potential private equity deals are in the works:

BPEA EQT, KKR & Co. Inc., and Blackstone Inc. are reportedly interested in acquiring a stake in Glenmark Life Sciences Ltd., an India-based pharmaceutical company. They are competing with Nirma Ltd. for the acquisition, as Glenmark Pharmaceuticals Ltd. plans to sell its 82.8% stake in the life sciences business to reduce its net debt.

Blackstone is nearing a deal to acquire a majority stake in New Tradition Media LLC, an advertising company. The deal is expected to value the company between $500 million and $750 million.

The Carlyle Group Inc. is close to purchasing a more than 20% stake in QuEST Global Services Pte. Ltd., an engineering services company. Advent International Corp. and Bain Capital LP, the current investors, would exit their investment in the business.

Warburg Pincus LLC plans to acquire a 66% majority interest in Watertec India Pte. Ltd., a bathroom accessories and fittings manufacturer, at a valuation of approximately $200 million. The private equity firm may acquire the remaining stake in the company over the next 12-24 months.

KKR’s infrastructure fund is in exclusive negotiations to acquire a majority stake of over 51% in LEAP India Private Ltd., a supply chain and warehousing company.

Aster DM Healthcare Ltd., based in the United Arab Emirates, is in discussions with KKR and Max Healthcare Institute Ltd. to sell approximately 30% stake in its Indian business for around $300 million. Olympus Capital and Rimco, current stakeholders in the business, are among the sellers.

These potential deals reflect ongoing activity in various sectors, showcasing private equity firms’ interest in healthcare, engineering services, advertising, and supply chain management. The completion of these transactions could have significant implications for the companies involved and the broader investment landscape.