PE investors exit India's SFO Technologies
IL&FS Investment Managers Limited (IIML), Franklin Templeton and Asia Mezzanine Capital Group (AMCG) have exited SFO Technologies, a leading Indian technology manufacturer.
Indian investment bank O3 Capital, which announced the divestment, served as the exclusive advisor both on this deal and on the original investment. Financial terms of the transaction were not disclosed, but VCCircle reported that the firms sold their stake to a promoter group.
The three investors committed INR1.66 billion (then $35.4 million) in 2011. Their entry facilitated the exit of India Value Fund Advisors.
SFO Technologies, a part of the NeST Group, designs and manufactures technology products for healthcare, energy, industry, automotive and aerospace companies in Asia, Europe and the US. It provides both hardware and software solutions to its clients.
IIML manages a funds worth over $3.2 billion, through which it holds stakes in a variety of Indian manufacturing, infrastructure and real estate concerns. Franklin Templeton, through Darby Overseas Investments, focuses on private equity and infrastructure investments in emerging markets. AMCG provides growth capital to medium-sized companies operating in Asia.
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