Deals

We are thankful to Singhi Advisors for finding us the right PE investor in such difficult times in the industry.
Mr. C E Fernandes, Chairman & Managing Director, GEI

Completion Date
August 2009

Transaction Type
Project Finance

Transaction Value
(Not disclosed)

Lead Partner
Mahesh Singhi
Telephone + 91 22 6634 6666

Background
Singhi Advisors acted on behalf of GEI Industrial Systems Ltd (GEI) for arranging Private Equity from BanyanTree Growth Capital, a Mauritius based, USD 125 mln fund.
GEI is a market leader with 50%-plus market share in India in Air Cooled Heat Exchangers and Steam Condensers, which includes design, manufacture, fabrication, erection and commissioning of the same. GEI has been a supplier to all major oil & gas companies EPC majors in India & abroad like Exxon Mobil, Reliance Industries, Toyo Engineering, etc. It had a turnover of about USD 50 mn in 2009.

What Difference Did We Make?
The funds were raised in a very depressed market, when most PE funds were wary of making any investment decisions, especially in the manufacturing sector.