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BIGGEST PE DEALS
Golden handshakes
Get savvy about the biggest private equity deals over the last year, the biggest dealmakers and what Venture Capitalists look for when zeroing in on potential start-ups! Also in this package, meet the stalwarts at Saif Partners and Bessemer Venture Partners to get a grip on their India strategy. Plus, columns by entrepreneurs who made it big with timely PE investments...
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 Investee: Intelenet Global Ser.
Investor: Blackstone Group
Investment Value: $200 mn
Susir Kumar, Chief Executive Officer, Intelenet Global Services, explains the key rationale behind the Blackstone and Intelenet deal to 4Ps B&M: “We wanted to retain our third party BPO focus and wanted to grow into a global brand. From the outset, we were very clear about what we were looking for in a potential partner. This deal with Blackstone will enable us to continue to grow as a third party BPO service provider and will also help our multi-pronged growth strategy. The association with Blackstone is a mutually beneficial one where Blackstone leverages Intelenet’s delivery capabilities for all its portfolio companies. Intelenet aims to optimally leverage Blackstone’s financial backing to improve and expand its operations. These acquisitions will enable Intelenet to expand its delivery footprint from solely offshore centres, to an on-shore and near-shore capability based out of the US and Latin America. Blackstone is lending its global brand and ready access to its investee portfolio.”
In one of the largest management buyouts in the BPO space, leading PE player Blackstone Group bought out HDFC and Barclays stake in Intelenet Global Services for a consideration of close to $200 million last year. Since incorporation in 2000, Intelenet has grown from 25 employees to over 17,000 employees across 18 locations in India and overseas. The fund infusion is enabling the investee company to become a global service provider with a global delivery footprint. In December 2007, Intelenet acquired two global companies, as part of its aggressive inorganic growth plans.
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 Investee: GMR Infrastructure
Investor: Eton Park Capital, SBI, UBS, et al
Investment Value: $1,000 mn
As per G. M. Rao, Group Chairman, GMR Group, “The positive response to the Issue reflects the confidence that global investors have in the Company and its integrated business model. As a result of this, they have decided to invest in the company through the QIP route in large volumes.” Madhu Terdal, CFO of GMR Infrastructure asserts that “the funds will be used for the construction of GMR Istanbul’s airport in Turkey as well as buyouts in the international power and airport markets.”
In a deal worth $1 billion, qualified institutional players like Citigroup, Capital International, SBI, Kotak Mahindra, Credit Agricole, UBS et al, bought a 9% stake in GMR Infrastructure Limited (GIL), the flagship company of GMR Group. GIL plans to spend about Rs.800 crores in its various projects, which include the Istanbul Airport and a Special Economic Zone in Tamil Nadu. The fund raising exercise by the company was an effort in complimenting its future expansion plans, which will see the company moving into newer pastures like SEZs, Export Promotion Parks etc.. Already in GMR’s kitty are projects like Delhi Airport modernisation and the Hyderabad Airport construction, both in the final stages of completion. The company also has plans of setting up overseas offices and to tap the opportunities available in markets like Europe. The group is also planning to get into airport projects in Africa.
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