Asia Digest: PH-listed A Brown buys Vires Energy, Five V acquires NZ’s Totara

An offshore natural gas rig

A Brown, a Philippine-listed company, has agreed to acquire 100 per cent of Vires Energy Corporation, while Australian private equity firm Five V Capital is acquiring a majority stake in New Zealand talent experience platform Totara.

PH-listed A Brown Acquires LNG firm Vires Energy

A Brown Company, a Philippine-listed holding firm with interest in agribusiness, power generation, and resources, has acquired 100 per cent of the outstanding capital of Vires Energy Corporation, a liquefied natural gas (LNG) company owned by Singapore-based Argo Group Pte Ltd.

Vires Energy is the proponent for the integrated floating LNG storage and regasification terminal and the 506-megawatt floating natural gas-fired power plant project located in Batangas City, the Philippines.

In a disclosure, A Brown said Vires Energy will build the necessary infrastructure to allow the importation of LNG as early as 2022. The project will deliver natural gas through a pipeline to supply existing and new natural gas-fired power plants. Vires Energy’s LNG project was earlier estimated to cost $750 million.

Financial details of the acquisition were not disclosed. A Brown Chairman Walter Brown said the deal reflects the company’s confidence in the role of natural gas in providing for a clean and cost-effective energy source.

Five V takes majority stake in NZ talent experience platform Totara

Sydney-based private equity firm Five V Capital has agreed to acquire a majority ownership interest in Totara, a New Zealand-headquartered employee management software provider, for an undisclosed amount.

Five V Capital is best known as an early backer in Australian tech unicorn Canva. The firm, which raised $250 million for its third buyout fund in August 2019, invests mostly in technology and consumer sectors, targeting significant ownership positions in firms valued at $20 million to $150 million.

In the latest deal, Totara’s operations and management will remain unchanged, with Richard Wyles continuing as CEO, according to the announcement.

Established in 2011, Totara develops HR and development software products that it said have been used by over 1,800 organisations around the world, including USDA, Indeed, Pepsi, Red Hat, JetBlue, and Yamaha.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.