Skip to main content

Deal Alert: Fidelity invests in Punj Lloyd's Engg & Design subsidiary



Fidelity Growth Partners India (FGPI), the private equity arm of Fidelity International, has taken a significant minority stake in PL Engineering, a leading engineering services outsourcing player with a focus on oil & gas, power and infrastructure. PL Engineering is a subsidiary of Punj Lloyd Limited, a leading global engineering, procurement and construction conglomerate.

Through this investment, Raj Dugar, Senior Managing Director of FIL Capital Advisors (India), the private equity advisory company for FGPI, has joined PL Engineering’s Board of Directors. “We believe PL Engineering is well positioned to benefit from the strong growth in offshoring of engineering services to India. The company has a solid platform, an outstanding management team and strong track record in the attractive process engineering services segment. We are delighted to partner with PL Engineering as the company enters its next phase of growth” said Mr. Dugar.

Mr. Sanjay Goel, CEO, PL Engineering said, “PL Engineering has developed a marquee client base over the last few years with high quality delivery on a range of projects including some very complex engineering design projects. Our clients are our best ambassadors. Our goal is to enhance our engineering strength substantially over the next few years across multiple sectors with the growth coming from a combination of organic and inorganic strategies. This funding will help us expand our business development efforts in North America and the Middle East. Given our track record and the strong backing of Punj Lloyd Group and Fidelity, we are confident of scaling up rapidly”.

PL Engineering provides a full spectrum of design and engineering services that cover all stages of the project and product lifecycle. The company was initially set up to provide high end engineering and design services work for its parent company. Over the last few years, the company has extended its service offerings across verticals and aggressively built up its third party client base.

About Fidelity Growth Partners India

Fidelity Growth Partners India (FGPI) is the private equity arm of Fidelity International focused on growth capital investing across sectors. FGPI seeks to invest in high-quality, high-growth companies in India across a broad range of sectors with a typical investment size in the $10 million to $50 million range. FGPI is committed to making the companies it invests in, leaders in their industries through access to patient capital with a long term investment mindset, a powerful network of resources and its team of investment professionals with a proven track record of success.

About PL Engineering

PL Engineering, a Punj Lloyd Group company, provides a full-spectrum of design and engineering services in the oil & gas, chemical & petrochemical, power and infrastructure sectors, covering all stages of the product and project life-cycle starting from concept design to commissioning. Services include feasibility studies, front end design, detail design, analysis and stimulation. The company currently has 800 employees across delivery centers in Gurgaon, Hyderabad and Abu Dhabi working in a global work share environment, enabled by state-of-the-art IT infrastructure. Over the last few years the company has aggressively built up its client base, which includes global companies across North America, Europe, Middle East and India.

Popular posts from this blog

VC Interview: Shailendra Singh of Sequoia Capital India

In a recent interview to Venture Intelligence, Shailendra Singh discussed some of the firm’s newer investments in the early stage segment including in the online payments space, the progress at a few existing portfolio companies and the active role the firm is playing in helping its portfolio companies scale and succeed in India and globally. Prior to joining the firm in 2006, Singh was a strategy consultant at Bain & Company in New York and before that, an entrepreneur in the digital media industry.

Venture Intelligence: How does Sequoia go about identifying potential early stage investments in India? Is there anything different you are doing today than, say, a couple of years back?

Shailendra Singh: There is a lot more focus on technology investing and early stage investing. In general, as you might remember a few years ago, we were doing primarily growth investing but in the past 18-odd months, we have had a very strong focus on early stage and that’s continuing. In terms of how…

KPMG Tops League Table for Financial Advisor to Private Equity Transactions in H1 2018

The transaction advisory unit of KPMG claimed the top position in the Venture Intelligence League Table for Transaction Advisor to Private Equity deals in the first half of 2018, advising deals worth $1.7 Billion. KPMG acted as the financial advisor to NHAI in the $1.5 Billion investment by Macquarie to operate 9 highway projects under the toll-operate-transfer (TOT) model. Ernst &  Young (which advised the $730 million asset sale by Indiabulls Real Estate to Blackstone) and Kotak (which advised the Vishal Megamart - Partners Group deal) accounted for the second and third spots respectively.
The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.
Arpwood Capital (which advised the $760 million investment by Temasek in the $2.1 Billion Schneider Electric buyout of L&;T Electrical and Automation business) …

SAIF, Kedaara Capital bag 2 awards each at Venture Intelligence APEX’18 PE-VC Awards

Mumbai, India, March 6, 2013: Kedaara Capital and SAIF Partners bagged two awards each as part of the Venture Intelligence “Awards for Private Equity Excellence” (APEX)event organized by Venture Intelligence. SAIF Partners bagged the VC Exit of the Year – 2017 Award (for the part exit from Paytm/One97 Communications) and the New Fund Raise of the Year – Venture Capital - 2017 Award. Kedaara Capital won the Best Private Equity Firm – Special Situations – 2017 the New Fund Raise of the Year – Private Equity - 2017.
The event opened with a Fireside Chat with V Vaidyanathan, Founder & Executive Chairman, Capital First interviewed by Sesh A.V, Managing Director, Basiz Fund Services

Snapshots of the awards ceremony:

Sesh AV, Managing Director, Basiz Fund Services presents the Venture Capital Investment of the Year award to Ramesh Radhakrishnan, Partner, Artiman Ventures.

Nagaraja Prakasam, Board Member, Sattva Consulting presents the Impact Investor of the Year award to Varun Saini, Progr…