Bengaluru-based ​SJS stake ​in a Rs 350 crore deal

Private equity player Everstone Capital has acquired a controlling stake of over 51 per cent in domestic auto components maker SJS Enterprises for USD 54 million (Rs 350 crore), said a report in a leading business daily.

13 Oct 2015 | By PrintWeek India

The infusion of capital will boost Bengaluru-based SJS Enterprises set up its next plant near Bengaluru and finance its expansion plans.
 
This means, industrial graphics for refrigerators and washing machines, for auto component makers in India and overseas. TVS Motor Company, Bajaj Auto, Maruti Suzuki, Tata Motors, LG, Samsung and Whirlpool are its key clients.
 
A PE firm, Everstone has been founded by Sameer Sain and Atul Kapur (both former Goldman investment bankers), acquired 26 per cent stake owned by American specialty printing company Serigraph and another 25 per cent stake from the three owners of the Bengaluru-based auto components maker.
 
The three entrepreneurs - S Sivakumar, KA Joseph and V Srinivasan - who started the company in 1987 will manage the day-to-day operations of the company.
 
The auto components industry in India is on a growth path. As per a recent report by in PrintWeek India's sister B2B publication Autocar Professional India, the sector is expected to grow to $115 billion by 2021 from $66 billion at the present.
 
Everstone is an India and Southeast Asia focused private equity and real estate investment firm with assets under management of $3.3 billion.
 
Last month, Everstone raised USD 730 million for its third fund, most of which will be used to back entrepreneurs in India and South East Asia. To-date, the investments in India include Modern Foods, Ritu Kumar, VLCC Healthcare, Burger King India, Capital Foods and Sula Vineyards.