Warburg Pincus acquires majority stake in Indian carton maker Parksons
April 26, 2021
Green Fin Investments B.V., an affiliate of global PE firm Warburg Pincus, has acquired a majority stake in Indian folding carton manufacturer Parksons Packaging, according to an announcement.
As part of the transaction, Kedaara Capital, Olza Holdings and IIFL have fully exited their investment in Parksons, while the founding Kejriwal family has sold a partial stake.
Ramesh Kejriwal, Siddharth Kejriwal and Chaitanya Kejriwal will continue to retain their current positions of chairman, managing director and joint managing director, respectively.
The transaction value was not disclosed. Credit Suisse acted as the exclusive financial advisor to the sellers and its affiliates.
Synopsis
Kedaara Capital has invested Rs 200 crore in the company in 2015 to buy about 25 percent stake held by another private equity firm, ChrysCapital.
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Global private equity fund Warburg Pincus has acquired a majority stake in Parksons Packaging Limited, India’s largest independent folding carton manufacturer.
As part of the transaction, existing private equity investors - Kedaara Capital, Olza Holdings Limited and IIFL, have fully exited their investment in Parksons and the promoters Kejriwal family has sold a partial stake, said a company statement.
Ramesh Kejriwal, Siddharth Kejriwal and Chaitanya Kejriwal will continue to retain their current positions of Chairman, Managing Director and Joint Managing Director, respectively, and will drive the business going forward.