Piramal Alternatives, the fund management arm of the Piramal Group, has committed Rs 150 crore ($15.7 million) to Kumar Equipment (India) Pvt Ltd, a manufacturer of commercial kitchen equipment and turnkey solutions provider, the companies said in a statement.
The investment, made through Piramal Alternatives’ India Credit Opportunities Fund II (PCF II), will support Kumar Equipment in expanding its manufacturing capabilities, deepening vertical integration and strengthening execution as it scales up its presence across India.
This is the sixth investment by PCF II, a sector-agnostic fund focussed on high-growth mid-market companies. The first fund, with a corpus of Rs 2,100 crore, has been fully deployed across 17 investments, of which 14 have been successfully exited, the statement said.
“Kumar Equipment has built a differentiated business through deep customer relationships, strong execution capabilities and a growing focus on in-house manufacturing,” said Kalpesh Kikani, chief executive officer of Piramal Alternatives.
Speaking about the same, Rajesh Kumar, co-founder of Kumar Equipment, said, “It (the funding) will help us expand our manufacturing capabilities, strengthen our product portfolio and serve customers more efficiently across India, while maintaining the quality and execution standards that have been central to our long-standing customer relationships.”
Piramal Alternatives provides flexible capital solutions to businesses across sectors, partnering with companies to support growth, transformation and long-term value creation. Its investment approach combines deep investment experience with a partnership-led focus on building and strengthening businesses.
Meanwhile, Kumar Equipment, founded by first-generation entrepreneurs Rajesh Kumar and Krishan Kumar, designs, manufactures and executes turnkey commercial kitchen systems for institutional and hospitality customers. It has completed more than 2,500 projects across 22 states with manufacturing capacity in Rajasthan and Bengaluru and a pan-India sales presence.
