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Archean Group raises mezzanine funding from KKR

By Bhawna Gupta

  • 29 May 2014
Archean Group raises mezzanine funding from KKR

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.

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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.

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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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