<http://www.dealcurry.com/2010068-Deepak-Fasteners-Maker-Of-Industrial-Fasteners-Receives-15-mn-from-BanyanTree.htm> *BanyanTree Growth Capital *invested $15mn (Rs. 70 crore) in *Deepak Fasteners Limited* (“DFL”) for a minority stake. BanyanTree will have a Board representation.
Ludhiana based DFL is the largest manufacturer of specialty industrial fasteners. It is promoted by the *Kalra *family. DFL will use the funds for expansion of capacity and geographic reach. It plans to raise Rs. 250 crore in the next one year for expansion. *Ladderup Corporate Advisory* was the advisor to the deal. In India, DFL has three manufacturing facilities across Punjab and Himachal Pradesh. DFL owns the *Unbrako *brand of fastners, which it acquired in 2008 from SPS Technologies, a subsidiary of PCC group, USA, along with a manufacturing facility in Shannon, Ireland. Unbrako is a well-known brand in fastners and is used in F1 racing. DFL has supplied fasteners for the Bandra-Worli Sea Link project, Delhi Metro and Mumbai International Airport. This is BanyanTree Growth Capital’s fifth investment in India and it’s first in the current year. Its most recent investment was in GEI Industrial Systems in August last year, where it acquired 10% stake. BanyanTree Growth Capital is advised by *BanyanTree Finance Pvt. Ltd. * -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
