Bain Capital news and archive

Bain Capital secures majority stake in South Korea’s Echo Marketing

US private equity firm Bain Capital has snapped up a majority stake in Echo Marketing, the South Korean parent company of activewear brand Andar. The stake, valued at 344 million dollars, reflects Bain’s efforts to expand its presence in consumer brands, particularly in South Korea’s athleisure sector. A regulatory filing seen by Reuters stated...

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Business

Is Canada Goose up for sale?

Bain Capital is reportedly considering selling part or all of its controlling stake in luxury apparel brand Canada Goose Holdings Inc. (Canada Goose). Bloomberg reports that the investment firm is working with advisors and gauging interest from potential buyers, according to sources close to the matter. Bain Capital acquired a majority stake in...

Apparel

Lilliput bullish on rebuilding brand, to invest Rs 300 cr

After sorting out their differences with PE investors TPG and Bain Capital, debt-ridden kidswear player - Lilliput is all set to bounce back with aggressive fundraising plans. The Delhi-based retailer has already started another round of fundraising discussions with two Chinese private equity players to raise another Rs 300 crores to meet its...

Apparel

Lilliput case-study – A warning for India investing

Last September, less than two weeks after an IPO plan was approved, the private equity owners of Lilliput Kidswear, Bain Capital and TPG got an anonymous call stating irregularities in Lilliput’s accounts. This set off a chain of reactions. Though India’s retail sector is open for foreign investment… 100 per cent in single brand, investors’ woes...

Apparel

PEs demand Lilliput make interim audit report public

Private equity investors Bain Capital and TPG, who have been at loggerheads with Sanjay Narula, the owner of kids’ wear company, Lilliput, has filed an application in the Delhi High Court, where have asked for brief inspection of the court-appointed independent auditors’ interim report reveals financial irregularities, and demanded the court to...

Apparel

Bain Capital drags Lilliput to court

When PE investors TPG and Bain Capital had accused Lilliput Founder Sanjiv Narula of fudging company accounts, Narula had dragged the investors to Delhi High Court alleging that it was the investors’ plan to stall company’s fund raising plans to gain majority control. This time its Bain Capital’s has approached the Delhi High Court, accusing...

Apparel

PE investors agree to Lilliput’s fund raising

Feud between Lilliput Kidswear and its investors Bain Capital and TPG has ended on a positive note with both the investors agreeing to Lilliput’s fund raising proposal. The company has now informed its bankers that Grant Thornton and Avendus Capital will assist in raising funds through a fresh issue of shares. According to industry insiders, the...

Apparel

SS Kothari Mehta to audit Lilliput accounts

The Delhi High Court has appointed SS Kothari to independently audit and investigate Lilliput Kidswear accounts. PE investors Bain Capital and TPG had demanded a forensic investigation of Lilliput books but the court dismissed the plea. The court has also asked both Lilliput and PE investors to provide point of references to help S S Kothari...

Apparel

Lilliput Kids gets a breather

Lenders to the Lilliput Kidswear have granted extra time to repay debts that were due earlier this month. They have decided to extend short- term funds to run the business. In a recent development, the company had asked for an out-of-court settlement with its private equity (PE) investors, but the decision upon it is yet to be reached. After its...

Apparel

PE Investors accuse Lilliput of fudging funds

Lilliput Kidswear has decided to defer its IPO plan after PE investors Bain Capital and TPG accused founder Sanjeev Narula of fudging company accounts. Narula in turn has taken the matter to the High Court alleging that investors want to put an end to the company’s RS 850 crores IPO to gain maximum control in their hands. In the wake of this...

Apparel

Lilliput dilutes stake again

Kidswear maker and retailer Lilliput will sell an undisclosed stake to private equity firm TPG Growth for around Rs 115 crores. This will be the second time the New Delhi-based retail player dilutes stake within a week after agreeing to sell 31 per cent stake for around Rs 270 crores to private equity player Bain Capital, thus putting the total...