M&A Deal Summary

ChrysCapital Acquires Safex Chemicals India

On March 24, 2021, private equity firm ChrysCapital acquired chemicals company Safex Chemicals India from BanyanTree Finance Pvt. for 50M USD

Acquisition Highlights
  • This is ChrysCapital’s 1st transaction in the Chemicals sector.
  • This is ChrysCapital’s 3rd largest (disclosed) transaction.
  • This is ChrysCapital’s 37th transaction in India.

M&A Deal Summary
Date 2021-03-24
Target Safex Chemicals India
Sector Chemicals
Buyer(s) ChrysCapital
Sellers(s) BanyanTree Finance Pvt.
Deal Type Secondary Buyout
Deal Value 50M USD
Advisor(s) Investec (Financial)

Target

Safex Chemicals India

New Delhi, India
Safex Chemicals India is one the fastest growing domestic agrochemicals company engaged in the production and distribution of agrochemical formulations across all major categories including insecticides, herbicides, fungicides, micronutrients, and specialized fertilizers. Safex Chemicals India was founded in 1991 and is based in New Delhi, India.

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Buyer(S) 1

Buyer

ChrysCapital

Port Louis, Mauritius

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ChrysCapital Management Co. is a private investment firm focused on opportunities in India. ChrysCapital looks for companies with revenues of $50 million to $1 billion and can commit up to $250 million of equity per transaction. Target sectors include business services, consumer goods and services, financial services, healthcare and pharmaceuticals. Prospective transactions include growth investments in private and listed companies, special situations, co-investments, and management buyouts/buy-ins. ChrysCapital was formed in 1999 and is based in Port Louis, Mauritius.

DEAL STATS #
Overall 44 of 54
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 2 of 3
Country (India) 37 of 45
Year (2021) 1 of 4
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-01 Dream Sports

Mumbai, India

Dream Sports is a sports technology company with brands such as Dream11 (India’s largest online sports fantasy platform), FanCode, DreamX, DreamSetGo, and DreamPay in its portfolio. Dream Sports is based in Mumbai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-05 Corona Remedies

Ahmedabad, India

Corona Remedies is among the fastest growing companies in the domestic formulations sector in India. Its product range includes formulations in therapeutic segments like gynaecology, cardio diabetic, nutraceuticals, anti-infective, orthopaedic and paediatrics. Corona Remedies was founded in 2004 and is based in Ahmedabad, India.

Buy -

Seller(S) 1

SELLER

BanyanTree Finance Pvt.

Investor Investor Investor

Category Growth Capital Firm
PE ASSETS 275M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

BanyanTree Finance Pvt. Ltd. is an Indian private equity firm focused on growth companies with at least $20 million in revenue. BanyanTree looks to invest in underserved sectors often ignored by other firms and companies unable to access traditional sources of capital. BanyanTree is based in Mumbai.

DEAL STATS #
Overall 2 of 2
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (India) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 Mahaveer Finance India

Chennai, India

Mahaveer Finance India is a Non-Banking Finance Company predominantly finances used commercial vehicles in the regions of Tamil Nadu, Puducherry, and Andhra Pradesh through a network of 20 branches. Mahaveer focuses on standalone owner-drivers operating in the small commercial vehicle segment and finances in Tier-II and III locations. Mahaveer Finance India is based in Chennai, India.

Buy -
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