Deal Desk
M&A deals, 20 October 2026
· 4 deals
Our view: Partners with deep pockets, whether sovereign investors, strategic groups or private equity backed acquirers, are increasingly taking part or majority stakes in specialist, founder-led businesses, which gives private company founders in Singapore and Southeast Asia credible routes to release value while retaining control, upside or a continuing role.
-
Global · Healthcare real estate · £700m
Primary Health Properties forms 50:50 private hospital joint venture with GIC
Primary Health Properties is transferring 27 private hospitals with a gross asset value of £700m into a 50-50 joint venture with GIC, Singapore's sovereign wealth fund, at 5% below last December's book value, and retains a 50% stake as property and asset manager. PHP receives £500m in immediate cash plus a deferred payment of £47.5m, which it will use to repay a bridging loan and a £266m term loan taken on for its acquisition of Assura.
The Growth Alliance Capital view
selling half of a portfolio to a patient Singapore investor while keeping management of the assets is a way to deleverage that founders can borrow without giving up control of the operating story. Healthcare assets with long-dated income keep drawing sovereign capital, and that underpins valuations for operators in the region with quality earnings. A modest discount to book was the price of certainty and speed here, which is a trade-off worth modelling before any partial sale.
Source: QuotedData
-
Asia · Automotive components · JPY 115 billion (EUR 646.3 million)
Foxconn to take 50% stake in Mitsubishi Electric's automotive business
Foxconn, through its investment management subsidiary Lin Yin International Investment, will acquire a 50% stake in Mitsubishi Electric Mobility, Mitsubishi Electric's automotive equipment unit, for JPY 115 billion (EUR 646.3 million), valuing the business at an enterprise value of JPY 320 billion and an equity value of JPY 230 billion. The deal requires regulatory approvals including competition clearance and is expected to close on 1 October 2027.
The Growth Alliance Capital view
large Japanese groups are separating non-core divisions and bringing in strategic partners through joint control rather than outright sales. That makes 50:50 structures a credible option for founders who want capital and scale without a full exit. Asian manufacturers are moving into electric vehicle supply chains, so component and precision engineering suppliers in Southeast Asia should expect more interest from strategic buyers.
Source: Evertiq
-
Global · Legal technology and cybersecurity services
Lineal acquires Swiss eDiscovery and forensics firm Forentec
Lineal, a US provider of legal tech solutions and services, is taking over Forentec, a Dübendorf-based Swiss company offering eDiscovery, digital forensics, cybersecurity and open-source intelligence services to law firms, companies, financial institutions, insurers and authorities. Forentec's founder and Managing Partner Lionel Bloch stays with the Forentec team and becomes part of Lineal.
The Growth Alliance Capital view
acquirers backed by private equity are buying founder-led specialist service firms to enter new countries, and keeping the founder in the business is part of the deal. For Southeast Asian founders in professional, forensic or technology services, a strong local client base in a regulated market can be the main thing a buyer is paying for. Keeping key people after the sale tends to shape both price and structure.
Source: Netzwoche
-
Global · Healthcare technology
Archimed acquires majority stake in medical imaging cloud provider 3verest
Archimed has acquired a majority stake in 3verest, a medical imaging cloud provider. 3verest hosts and secures medical imaging data for healthcare providers on its own sovereign cloud infrastructure.
The Growth Alliance Capital view
healthcare investors are buying majority stakes in data infrastructure businesses whose value rests on trust, compliance and recurring hosting income. A majority deal lets a founder take money off the table and keep some upside in the next stage of growth. Founders of health data and software businesses in the region can treat this as a sign of continued appetite from investors who specialise in the sector.
Source: PE Hub
Deal Desk summarises publicly announced transactions from the sources linked. "The Growth Alliance Capital view" is our opinion, not investment advice, and implies no involvement in any transaction mentioned.