Advent International acquires ZCL Chemicals for Rs 2,000 Cr
Advent International acquires ZCL Chemicals for Rs 2,000 Cr
12 March 2021 | News
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Parikh family, founder and promoters of ZCL Chemicals Limited has announced that they have sold the entire stake in the company to Advent International, one of the largest and most experienced global private equity investors, for an equity value of Rs 2,000 crore.
Pursuant to the signing of definitive agreements last month, Parikh family sold its entire ~80 per cent holding and has completely exited ZCL. Of the above, ~26 per cent will be transferred subject to the customary closing conditions and receipt of all applicable regulatory approvals. Morgan Stanley Private Equity Asia, a private equity platform that acquired ~20 per cent stake in ZCL for Rs 150 crore in 2016, has also exited ZCL for Rs 390 crore. The Parikh family facilitated a seamless exit to the private equity fund through this transaction.