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PAG ups India packaging play with back-to-back deals for Pravesha, Manjushree

VCCircle

VCCircle · 7m ago

PAG ups India packaging play with back-to-back deals for Pravesha, Manjushree

PAG, an Asia Pacific-focused private equity firm, has expanded its presence in India’s packaging sector by acquiring a majority stake in Pravesha Industries and investing in Manjushree Technopack. Though financial terms weren't disclosed, the Pravesha deal is valued at $200 million, while Manjushree is valued at $1 billion. The acquisitions align with PAG's focus on India’s manufacturing and industrial sectors, leveraging the country's robust pharma export industry. PAG manages over $55 billion in assets globally.

Related News

PAG ropes in three co-investors for big-ticket buyout of Manjushree Technopak

VCCircle

VCCircle · 8m ago

PAG ropes in three co-investors for big-ticket buyout of Manjushree Technopak

Asia Pacific-focused investment firm PAG is partnering with three co-investors to acquire a majority stake in packaging products company Manjushree Technopak. PAG is said to be purchasing the India-based rigid plastics packaging products firm from private equity firm Advent International. The deal is estimated to be worth a significant amount.

PAG-backed Manjushree Technopack may spend $150-180 mn to acquire 4-5 assets

Livemint

Livemint · 2m ago

PAG-backed Manjushree Technopack may spend $150-180 mn to acquire 4-5 assets

Manjushree Technopack Ltd (MTL), backed by PAG, plans to invest $150-180 million in acquiring 4-5 assets to expand its packaging offerings. This move reflects consolidation in the packaging sector, driven by demand in consumer, industrial, pharmaceutical, and export industries across India. MTL aims to strengthen its market presence and revenue through these acquisitions, with two deals already in advanced stages expected to conclude in the coming months.

Alternative investment firm PAG acquires majority stake in Pravesha Industries

YourStory

YourStory · 7m ago

Alternative investment firm PAG acquires majority stake in Pravesha Industries

PAG, a private equity investment firm focused on the Asia Pacific, has acquired a majority stake in Pravesha Industries Private Limited, a prominent packaging company in the pharmaceutical sector. This acquisition marks PAG's second investment in the packaging industry. Pravesha, established in 1999, operates four manufacturing facilities in India and primarily serves developed markets like the US and Europe. PAG aims to drive Pravesha's growth through organic and inorganic strategies.

Grapevine: Advent eyes Manjushree monetisation; EQT, Hillhouse lead race for GeBBS

VCCircle

VCCircle · 1y ago

Grapevine: Advent eyes Manjushree monetisation; EQT, Hillhouse lead race for GeBBS

Advent International is considering both a public listing and a private sale for portfolio company Manjushree Technopack Ltd, aiming to unlock value. Several global funds, including Brookfield Asset Management, Carlyle, PAG, Platinum Equity, and Permira Private Equity, have submitted non-binding bids for the packaging firm. EQT and Hillhouse are reportedly the lead contenders in the race for GeBBS, an outsourced healthcare services provider.

Manjushree, 2 others plan IPO; Postman valuation falls in secondary deals

VCCircle

VCCircle · 1y ago

Manjushree, 2 others plan IPO; Postman valuation falls in secondary deals

Advent International is reportedly planning an IPO for Manjushree Technopack Ltd, India's largest rigid plastic packaging solution provider. The private equity firm has engaged JM Financial, ICICI Securities, Avendus Capital, and Goldman Sachs to manage the offering. Meanwhile, Postman's valuation has fallen in secondary deals.

Oorja Energy, Jiraaf backer Capital A floats second VC fund

VCCircle

VCCircle · 11m ago

Oorja Energy, Jiraaf backer Capital A floats second VC fund

Capital A, a venture capital firm led by Ankit Kedia, has filed papers with Securities and Exchange Board of India (SEBI) for a category II alternative investment fund. This marks the firm's second fund, with a focus on early-stage investments. Ankit Kedia was previously the promoter and director at Manjushree Technopack Ltd, a plastic packaging solutions company.

Grapevine: PAG, Advent, Manjushree, Bank of America, and Abundantia in news

VCCircle

VCCircle · 9m ago

Grapevine: PAG, Advent, Manjushree, Bank of America, and Abundantia in news

PAG has acquired a majority stake in a packaging solutions company, while Abundantia Entertainment is looking to raise funds. Bank of America is facing an internal probe into alleged misconduct, causing three senior dealmakers in its India unit to leave.

Huhtamaki India plots big M&A push

Livemint

Livemint · 1m ago

Huhtamaki India plots big M&A push

Huhtamaki India, a leader in the domestic flexible packaging industry, is planning a major M&A push backed by $400-500 million in funds. This move aims to acquire local assets, expand its product offerings, and increase revenues. The initiative occurs amidst a wave of consolidation in the packaging sector, involving major players like Essel Propack, Manjushree, and Huhtamaki, all striving to broaden their product lines and geographical reach.

Packaging firm Pravesha plans to go public after PE talks turn sour

VCCircle

VCCircle · 7m ago

Packaging firm Pravesha plans to go public after PE talks turn sour

Packaging firm Pravesha Industries, based in Hyderabad, plans to pursue an initial public offering (IPO) after unsuccessful talks with private equity investors due to a valuation mismatch. The company is currently in the process of hiring investment bankers to assist with the IPO launch. This strategic move comes as Pravesha reassesses its funding options following the breakdown in negotiations with private equity stakeholders.

Advent, Jhunjhunwala family-backed companies get SEBI nod for IPO

VCCircle

VCCircle · 9m ago

Advent, Jhunjhunwala family-backed companies get SEBI nod for IPO

Two companies backed by Advent International and the Jhunjhunwala family have received approval from the Securities and Exchange Board of India (SEBI) for their initial public offerings (IPOs). Packaging products maker Manjushree Technopack, backed by Advent, plans to raise INR 3,000 crore, using INR 500 crore to pay off debt. Healthcare technology company Inventurus Knowledge Solutions, backed by the Jhunjhunwala family, has submitted IPO documents for the offer for sale of shares held by existing shareholders. As of March 2021, Inventurus had 800 healthcare organizations as clients.

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