Delos Capital buys India's Sage Metals
US-based private equity firm Delos Capital has acquired Indian specialty metal products manufacturer Sage Metals for an undisclosed amount.
SSG Capital Management and Olympus Capital Asia Credit provided acquisition financing for the transaction, according to a release. Delos partnered with Sage co-owner R. Krishnan and a new US-based management team to buy the company from founders V.K. Agarwal and S.P. Agarwal. The purchase is intended to help strengthen Sage's presence in North America and accelerate its growth.
Sage was founded in 1983 and manufactures products using copper, aluminum, zinc, steel and brass for a range of industries, including electrical transmission equipment, plumbing, and automobiles. Its chief focus is the US and Canadian markets, but it also exports to Australia, the Philippines, Europe and Latin America.
Delos focuses on management buyouts, recapitalizations, and growth investments in the lower middle market. The Sage acquisition marks the New York-based GP's first transaction outside the US.
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