TLG Capital does first deal in India with Re-feel Cartridge
TLG Capital, a London-based investment firm, has made its first investment in India, taking a 36% stake in privately held Re-feel Cartridge Engineering Pvt Ltd, the country's largest printer cartridge refill and laptop repair services company, for some $5 million.
Established in February 2007, Re-feel operates a printer cartridge refilling and recycling chain with its head office in Kolkata, it has been expanding its branch network by franchising, operating over 100 outlets in 70 cities across India. TLG said that it plans to expand the business model in Africa, where the firm has been making investments through its regional offices in Uganda and Ghana. Zain Latif, Principal of TLG Capital, said publicly, “We will also look into replicating this business in sub-Saharan Africa given the similarities between Africa and India. Exporting streamlined, efficient and cost-effective business models and technology from India to sub-Saharan Africa is a core theme for us.”
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