India Resurgence Fund (“IndiaRF”), a three way partnership between Piramal Enterprises Restricted and Bain Capital Credit score, at present introduced an fairness funding of INR 310 crore (USD 42 million) in Primacy Industries Restricted (“Primacy”). The funding proceeds shall be used in the direction of strengthening the stability sheet of Primacy and offering contemporary capital to gasoline its formidable development plans.
Primacy is a number one producer within the fast-growing contracting enterprise for fragrance-based client merchandise in air care, private care and well being & hygiene classes. With an working footprint throughout India, U.S., Europe, Center East and Australian markets, Primacy caters to among the largest retailers and CPG corporations within the U.S., Europe and India. Primacy has a longtime observe file of offering progressive options primarily based on newest perfume and design traits. On the again of its manufacturing, design strengths, dependable and collaborative provide chain, Primacy is effectively positioned to offer varied product options to fulfill the calls for of world manufacturers and personal labels.
Commenting on the funding, Shantanu Nalavadi, Managing Director, IndiaRF stated, “We’re excited to accomplice with Primacy and its administration group to faucet into vital development and M&A alternatives within the fragrance-based client product manufacturing house. India is amongst the bottom price manufacturing locations globally and we see big potential for a top quality, world platform like Primacy to learn from better manufacturing outsourcing alternatives in perfume & allied client product classes. IndiaRF continues to remain targeted on partnering with companies with sturdy fundamentals and strong administration groups to enhance their stability sheets and supply development capital.”
Gautham Pai, Chairman, Primacy Industries Restricted stated, “We’re delighted to accomplice with IndiaRF and stay up for work collectively to construct a worldwide client items manufacturing platform. Funding from IndiaRF will permit us to leverage their expertise in bringing in operational excellence and speed up our formidable development trajectory with greatest in school efficiency and profitability requirements”.
India Resurgence Fund (“IndiaRF”), a three way partnership between Piramal Enterprises Restricted and Bain Capital Credit score, invests capital within the type of each debt and fairness. IndiaRF seems to be to put money into corporations which have essentially sturdy development prospects linked to infrastructure and consumption wants of India and are aggressive on price and high quality within the export markets. IndiaRF is dedicated to creating worth for all stakeholders. For extra data, go to: http://www.indiarf.com