Unitas exec indicates interest in 3i's Hyva

HONG KONG: Private equity firm Unitas Capital indicated that it is interested in the auction of 3i Group Plc's Dutch pump maker, Hyva, a top executive said.

Speaking at the AVCJ Private Equity Forum here on Friday, Unitas Chief Executive Andrew Liu was asked by the moderator about the auction of Hyva International.

Liu did not mention Hyva by name, but spoke of the company as an ideal asset for Unitas, given its large Asia footprint.

He said that if Unitas was successful in buying the company, the firm would consider moving its headquarters to Asia.

At least three other private equity firms, Bain Capital LLC, Carlyle Group and Permira, put in first-round bids on the Oct. 25 deadline for the Hyva auction, Thomson Reuters publication Basis Point quoted banking sources as saying.

Hyva makes hydraulic components for heavy industrial machinery.

On Thursday, 3i shares fell 2.71 percent, underperforming the FTSE's 0.03 percent easing.