• Advent teams up with Temasek to scoop up Crompton’s consumer business

    A group of investors led by bulge-bracket private equity firm Advent International along with Temasek, the investment company of the government of Singapore, are set to buy the consumer business of Crompton Greaves, said multiple sources who are directly involved in the deal.

    They will be acquiring the business from billionaire Gautam Thapar and his family, the promoters of the diversified Avantha Group, ending months of negotiations that saw several large global investors and PE fun ..

    Advent, which has more than $30 billion of assets under management, is said to have teamed up with Temasek at the last minute, after signing an exclusivity agreement with Thapar earlier this year. While they will be leading the consortium, Temasek is expected to be a junior partner and co-investor. Interestingly, this will be first time Temasek will be involved in a buyout in India. It will be the most high-profile deal for Advent since opening its local ..