New Delhi [India], March 25 (ANI): A major private equity firm, ChrysCapital, is investing around Rs 360 crore in Safex Chemicals, which manufactures and sells crop protection products.
The move involves a combination of BanyanTree Growth Capital selling some of their shares and the company raising funds for development purposes. Safex Chemicals produces and distributes agrochemicals that help improve the protection and productivity of Indian crops.
“We are aiming to use our strong management skills and ChrysCapital’s wide network to drive Safex’s growth by bringing new products and solutions to the Indian agrochemical sector through mergers and acquisitions and in-licensing opportunities. We are all focused on creating value for all our stakeholders,” said S K Chaudhary, Founder Director of Safex.
As part of the transaction, Raghav Ramdev, Managing Director of ChrysCapital, and R Hariharan, a veteran with more than 25 years of experience, will join the board of Safex as representatives of ChrysCapital.
Ramdev mentioned that agrochemicals is a large market and Safex has exhibited a strong historical record by considerably outperforming the industry growth while sustaining attractive return metrics.
“Moving forward, Safex has multiple growth levers in place — from penetrating deeper into the Indian branded business to entering the technicals segment — which will further propel the company to become a significant player in the agrochemical industry.”
Safex is also planning to get into the B2B agrochemical and home-care technicals segment. (ANI)