Archean Group raises mezzanine funding from KKR

By Bhawna Gupta

  • 29 May 2014

Chennai-based industrial conglomerate Archean Group has raised an undisclosed amount in mezzanine funding from private equity major KKR & Co, as per a release.

The funding would be completed in two tranches which would help the group to part-fund its expansion plans.

o3 Capital and Metis Family Office acted as joint financial advisors to Archean Group on this deal.

Established in 1984 by P B Anandam, Archean Group has diversified business interests in mining & minerals, industrial salt, shipping, building materials, oil & gas services, industrial chemicals & fertilizers.

In June 2008, Archean Group, Indian Farmers Fertiliser Cooperative Ltd and the Indian government together acquired 85 per cent stake for an undisclosed amount in Senegal-based Industries Chimiques du Senegal, through a special purpose vehicle Senfer.

KKR, a leading global investment firm that manages investments across multiple asset classes including private equity, has been actively backing Indian business houses through debt as well as equity funding.

In the past it has also invested in holding company of Avantha Group as well as a privately held holding arm of Apollo Hospitals Enterprise promoter among others.

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