Qatar investment firm arranges $25 million of private equity for Indian company through the Carlyle Group
Funds from the affiliate, First Carlyle Ventures III (FCV III), will be used by Visen to expand its manufacturing capacities in India, Africa and the Middle East. Alpen Capital Investment Bank (Qatar) LLC was the sole financial advisor for the transaction.
The Carlyle Group (Middle East) and Alpen Capital are listed in the Middle East Investors Directory with the code OR52 and BFD40 respectively.
More details follows
An affiliate of global alternative asset manager The Carlyle Group has invested US$25 million in Visen Industries Limited, a large manufacturer of water-based polymer emulsions in India. Funds from the affiliate, First Carlyle Ventures III (FCV III), will be used by Visen to expand its manufacturing capacities in India, Africa and the Middle East. Alpen Capital Investment Bank (Qatar) LLC was the sole financial advisor for the transaction.
Visen Industries is well established in the Indian polymer emulsions market. It manufactures the entire range of water-based polymer emulsions and caters to customers across industries like paints, textiles, adhesives and construction. It has long standing relationships with industry players including Asian Paints, Berger Paints, Kansai Nerolac and Jotun Paints. Visen also caters to export demand from customers in the Middle East and Africa. As part of its growth strategy, Visen is strengthening and growing its business in India while expanding its presence in international markets.
The investment in Visen will come from FCV III, a part of the Carlyle Asia Growth Partners IV (CAGP IV), a US$1.04 billion sector-agnostic fund. CAGP IV invests in high growth companies in key Asian markets such as India, China and Korea, while FCV III focuses on investments into India.
"Visen is a trusted partner delivering consistent high quality products to its customers across paints, textiles, adhesives and construction industries. We are very happy to be associated with The Carlyle Group and Alpen Capital and hope to leverage their relationships as we continue to build Visen into a global player in the polymer emulsion industry", says Vijay Nair, Managing Director of Visen Industries
"Visen is led by a visionary entrepreneur of extraordinary ability and leadership. We are excited to be their partner in their journey to build Visen into a global emulsion player. Growing disposable incomes and increasing urbanization are fuelling the end consumption demand for paints, textiles, adhesives and construction, which leads to growth opportunity for high quality players such as Visen.", says Shankar Narayanan, Managing Director and Head of Carlyle Growth Capital in India
"We are delighted to have completed this transaction. We value our relationship with Visen Industries and are happy to play a part in its future development through the Carlyle Group", says Sanjay Bhatia, Senior Executive Officer, Alpen Capital Investment Bank (Qatar) LLC
Alpen Capital began its Qatar operations in early 2008 and since then has been doing extremely well in ensuring a presence in the market, servicing financial institutions, mid-size corporations and family groups in various types of advisory services. In addition to Qatar, Alpen Capital Group also has offices in Bahrain, India, Oman and UAE. In all these locations, Alpen Capital functions with its associate Bank Sarasin-Alpen, which is the subsidiary of the Swiss private bank, Bank Sarasin & Co., Ltd, Switzerland. Both organizations operate through a unique business model where the investment banking activities of Alpen Capital complement the private banking activities of Bank Sarasin-Alpen.
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