IndusLaw, CAM, Pioneer Legal, Rajaram lead on NewQuest acquisition of minority stake in Cloudnine

Bengaluru-based Cloudnine has 16 facilities spread across Gurgaon, Noida, Chandigarh, Panchkula, Chennai, Mumbai and Pune.

NewQuest Capital Partners has acquired a minority stake in Kids Clinic India Private Limited (operating as Cloudnine chain of hospitals), through a combination of a primary investment and acquisition of secondary stake from existing investors and other shareholders in Cloudnine.

The investment in Cloudnine is NewQuest’s third investment in India in the last six months.

IndusLaw represented NewQuest in its acquisition of minority stake.

The transaction team was led by Partner Nishant Singh along with Associates Saksham Madan and Vardhit Singhania.

The due diligence team comprised Partners Nishant Singh and Mayukh Datta with Principal Associates Chhavi Jhanji, Anantha Krishnan Iyer, Anindita Ganguly, Senior Associates Nikhil Bhat, Prachi Pandit and Associates Saksham Madan, Siddhanth Maheshwari, Rahul PS, Manushi Shah and Janhavi Bhanushali.

True North and Indium, existing investors in the Company were represented by Pioneer Legal.

Sequoia, also an existing investor in the Company, was represented by Cyril Amarchand Mangaldas.

Matrix Partners, one of the selling shareholder, was represented by Rajaram Legal.

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