TA Associates takes minority stake in Tega Industries in India
TA Associates, a growth-focused private equity firm, has completed a minority investment in Tega Industries Ltd., a company offering designs and production of consumables for the mining industry in India. Financial details were not disclosed.
Founded in 1979, Kolkata-headquartered Tega Industrial offers a range of products and services used in mining, mineral processing, screening, grinding and material handling. With manufacturing facilities in India, South Africa and Chile, the company offers customized wear-resistant mill liners that are used for grinding and sizing of mineral ores by global customers in 62 countries. It also has sales and support offices in 14 countries.
"Tega is a recognized leader in rubber mill liners, which are a critical component in driving efficiency, saving costs and determining overall product quality,” said Dhiraj Poddar, Director, TA Associates Advisory Pvt. Ltd. He also added that the company has embarked on an acquisition-led growth strategy and, given its well-established and highly reputable brand. Upon the acquisition, Podder will join the company's Board of Directors.
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