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October 27, 2010

Deal Alert: DEG picks up stake in Deepak Fasteners

DEG – Deutsche Investitions - und Entwicklungsgesellschaft mbH has taken a minority stake in Deepak Fasteners Ltd., a leading manufacturer of high end specialty industrial fasteners.

Deepak Fasteners owns the ‘Unbrako’ brand, which it acquired two years back from SPS Technologies of USA. Unbrako is an engineers’ preferred choice for all safety and mission critical applications.

“We are very happy to partner with a world class Indian company with strong international brands. Deepak’s products support a wide range of high growth key infrastructure industries and we believe the company is in a good position to capitalize on the opportunities offered by the next round of growth in India and elsewhere. DEG’s investment would generate additional employment opportunities and would help the Indian Company establish itself as a global player. ”, said Amit Goyal, Investment Manager at DEG’s office in Delhi.

Earlier this year, Deepak Fasteners raised first round of capital for its expansion project from BanyanTree Growth Capital LLC, a Mauritius based private equity fund.

DEG, member of KfW Bankengruppe (KfW banking group) and one of the Europe's largest development finance institutions, finances investments of private companies in developing and transition countries. DEG has been committed to private-sector
investments in India since 1964. Drawing upon its many years of experience in India as well as in other developing countries, it can provide valuable assistance to companies in realizing their investment projects. DEG invests in profitable companies across the sectors that contribute to sustainable development in the economy. DEG’s current India portfolio stands at nearly EUR 380 million spread across 42 companies across the sectors.

For more information, please contact Amit Goyal of DEG at +91 11 4725 0205 or amit.goyal@degindia.com