Precision engineering firms turn to private equity to fund next phase of growth
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Precision engineering firms like Hical Technologies and CTC Group are seeking private equity partners to fund growth.
- ✓Blackstone, EQT, and ChrysCapital are evaluating these family-owned businesses to build larger platforms.
- ✓Ashish Gulati said, "Global bulge-bracket investors have taken the lead in consolidating multiple such businesses to form platforms."
Story at a Glance
- Category
- MARKET
- Reported By
- mint
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Summary
Private equity funds including Blackstone, EQT and ChrysCapital are evaluating precision engineering and manufacturing businesses with the aim of consolidating such businesses.
India's family-owned precision engineering and manufacturing businesses are increasingly seeking to institutionalize operations and sign up private equity or strategic partners to scale up to the next level of growth, according to bankers and industry executives. They include Hical Technologies Pvt Ltd, CTC Group, Balaji Precision Components Pvt Ltd, Gemsons Precision Engineering Pvt Ltd and Rabwin Industries Pvt Ltd.
CTC Group, started by Ramesh Kumar Agarwalla and Gokul Kumar Agarwalla in 1983, has mandated Avendus Capital Pvt Ltd as an adviser to sell a minority stake and raise about $50 million to fund its growth plans, at least two people said. Hical, based in Bengaluru and founded by Shashikiran Mullur in 1988, is looking to raise a similar amount for a minority stake sale, they added.
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