Everstone Capital Partners II, a $580 million general private equity fund managed by Everstone Capital, has invested Rs 60 crore in Ozone Overseas Pvt Ltd, a supplier of high-end architectural fittings and urban street infrastructure, according to the company statement.
The proceeds of the fund will be used to expand Ozone’s manufacturing capabilities, brand building and ramping up its distribution network, the company added.
“As we build and transform Indian urban landscape, there remains a growing need for high-quality, branded architectural hardware. Ozone has the right product mix, leadership and business model, and it is well-positioned to become the market leader in this space. We look forward to working closely with Alok Aggarwal and taking this business to the next level,” Sameer Sain, Managing Partner of Everstone Capital, commented on the investment.
“I am very excited about the immense growth opportunities available in the Indian markets, and Everstone’s operational and strategic capabilities will be extremely valuable in terms of achieving Ozone’s growth potential,” said Alok Aggarwal, director of Ozone Overseas.
Promoted by Aggarwal and headquartered in Delhi, Ozone is a leading supplier of high-end architectural fittings and urban street infrastructure. The company has over 1,000 points of presence and multiple lines of businesses including architectural hardware products and solutions such as glass fittings, door-closing devices and furniture fittings.
Ozone is a part of the Ozone Enterprise Group. The group has two more subsidiaries – namely, Ozone Architectural Products, a manufacturing entity providing stainless steel architectural solutions, and Ozone Matrix Infracon, which is a turnkey execution company offering consulting, design and build services.
Everstone Capital is an India-focused investor with dedicated private equity and real estate funds, with assets under management of around $1.6 billion. It has invested in the construction space with deals like B. E. Billimoria, a civil engineering construction company, and Interarch, a provider of pre-engineered building (PEB) construction services.
Earlier this month, Everstone also invested Rs 150 crore in Crystal Crop Protection Pvt Ltd, a Delhi-based manufacturer of crop protection chemicals. Crystal Crop is engaged in the business of pesticide formulations, besides agri-equipment such as spray pumps.