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March 09, 2011

Deal Alert: StanChart PE invests Rs.85-Cr in Privi Organics

Edited excerpts from the Press Release:

Standard Chartered Private Equity (SCPE) has invested Rs.850 million in Privi Organics, one of India’s leading aroma chemical manufacturer and exporter. Mumbai-based Privi exports its products to over 25 countries and has established itself as a key supplier to several of the world's largest fragrance and flavours companies. This funding will part finance the growth plans of the company’s business through expansion of manufacturing facilities at Mahad, Maharashtra and also support key backward integration projects.

Rahul Raisurana, Managing Director, Standard Chartered Private Equity, said, "The aroma chemicals space presents significant opportunities for Indian companies, as India emerges as a key manufacturing center for aromatic and speciality chemicals. We have found Privi Organics to be the right partner because of its strong chemistry skills and quality manufacturing strengths that are well recognized by its global customer base."

Mahesh Babani, Managing Director, Privi Organics, said, “Privi Organics is at an inflection point as it builds on its leadership position among aromatic chemical companies globally. Even as we are driving sustainable growth through new products, the focus is also on deploying innovative Green Initiatives in our business processes. We are delighted to have Standard Chartered Private Equity as an investor at this stage of our growth.”

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