Alpen Cap arranges $25mn equity for Indian firm

Mumbai : An affiliate of global alternative asset manager The Carlyle Group has invested $25 million in Visen Industries Limited, a large manufacturer of water-based polymer emulsions in India. Funds from the affiliate, First Carlyle Ventures III (FCV III), will be used by Visen to expand its manufacturing capacities in India, Africa and the West Asia, a statement released here said.

Alpen Capital Investment Bank (Qatar) LLC was the sole financial advisor for the transaction. The investment in Visen will come from FCV III, a part of the Carlyle Asia Growth Partners IV (CAGP IV), a $1.04 billion sector-agnostic fund. CAGP IV invests in high growth companies in key Asian markets such as India, China and Korea, while FCV III focuses on investments into India. Visen Industries is well established in the Indian polymer emulsions market. It manufactures the entire range of water-based polymer emulsions and caters to customers across industries like paints, textiles, adhesives and construction. It has long standing relationships with industry players including Asian Paints, Berger Paints, Kansai Nerolac and Jotun Paints.