Darby PE backs Indian engineering consultancy
Darby Private Equity, a PE arm of Franklin Templeton Investments, has committed an undisclosed sum to Enzen Global Solutions, an Indian engineering consultancy.
The investment was made through the Darby Asia Opportunities Fund III, which invests in manufacturing and consumer-related companies based in emerging Asia.
Enzen, which was established in 2006, provides advisory, management and engineering design services for projects in the power, gas and water infrastructure sectors in India and the UK. The company also has an electricity distribution business in India that partners with local providers to improve service quality and reduce technical and revenue losses.
"The investment in Enzen reinforces Darby's longstanding commitment to investing in well-managed mid-sized companies in India. Having established a strong platform and management team, Enzen is well positioned to benefit from the large, growing UK and India energy and utilities consulting and engineering market," said Deepa Sankaran, managing director of Darby India, in a statement.
Darby Asia Opportunities Fund III launched in 2011 and focuses on mezzanine opportunities. It has previously made three investments in China: textiles player Brightex Industries, restaurant business Walnut Investment Holding II, and construction equipment manufacturer Yuchai.
Earlier this year, the fund also provided financing to an EQT Partners-led consortium that acquired a majority stake in China F&B Group, local franchise operator for Dairy Queen and Papa John's Pizza.
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