Investment Summary

TA Associates, Sandstone Capital and Madison India Capital Invest In Micromax

On December 1, 2009, private equity firms TA Associates, Sandstone Capital and Madison India Capital invested in electronics company Micromax

Investment Highlights
  • This is TA Associates’ 1st, Sandstone Capital’s 1st and Madison India Capital’s 1st transaction in the Electronics sector.
  • This is TA Associates’ 1st, Sandstone Capital’s 1st and Madison India Capital’s 3rd transaction in India.

Investment Summary

Date 2009-12-01
Target Micromax
Sector Electronics
Investor(s) TA Associates
Sandstone Capital
Madison India Capital
Deal Type Growth Capital
Advisor(s) Grant Thornton Transaction Advisory (Financial)
IndusLaw (Legal)

Target

Micromax

Gurgaon, India
Micromax is a provider of wireless handsets and solutions across the Indian subcontinent. Micromax designs products and distributes its locally branded handsets through over 45,000 retail points in 120 cities. Micromax Informatics is based in Gurgaon, India.

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Investor(S) 3

Investor

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 162 of 374
Sector: Electronics M&A 1 of 2
Type: Growth Capital M&A Deals 62 of 135
Country: India M&A 1 of 16
Year: 2009 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-08 OpenLink Financial

Uniondale, New York, United States

OpenLink Financial is a provider of cross-asset trading, risk management, and related portfolio management software solutions for the commodity, energy and financial services markets globally. OpenLink’s blue chip client base of more than 150 customers worldwide includes twelve of the top twenty-five largest commodity and energy companies by market capitalization, eight of the largest financial institutions and eleven of the largest central banks, as well as major hedge funds and public utilities. Headquartered on Long Island, New York, and with offices in New York, Houston, London, Berlin, Vienna, São Paulo, Sydney, and Singapore.

Sell $480M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-14 One Call

Jacksonville, Florida, United States

One Call is a provider of specialized services to the workers' compensation industry that lead to faster, more efficient, and more cost-effective claims resolution. From high-end diagnostics and physical therapy services to post-discharge and in-home and complex care management, to transportation and language services, to superior dental programs and other medical specialties, One Call provides reliable, consistent connections to care that enable maximum medical improvement and superior outcomes. One Call was formed in 2012 and is based in Jacksonville, Florida.

Sell -
Investor

Sandstone Capital

Boston, Massachusetts, United States

Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Sandstone Capital is an investment fund focused on public and private company investments in the US, India, and China. The Firm will invest across all sectors and market capitalizations. Sandstone targets businesses with strong fundamentals, world-class management teams, extraordinary growth and clear competitive strengths. Sandstone Capital began investing in 2005 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 1
Sector: Electronics M&A 1 of 1
Type: Growth Capital M&A Deals 1 of 1
Country: India M&A 1 of 1
Year: 2009 M&A 1 of 1
Investor

Madison India Capital

Port Louis, Mauritius

Category Private Equity Firm
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Madison India Capital Partners is an Indian private investment group focused on mid-sized companies in the media, communications and business services sectors. Specific areas of interest include radio and television broadcasting, publishing, marketing services, content and distribution, information services, offshore services related to media and communications, and telecommunications. The Firm's target investment size is $5 to $20 million in transactions valued up to $100 million. Madison India Capital is based in Gurgaon.


DEAL STATS #
Overall 3 of 6
Sector: Electronics M&A 1 of 1
Type: Growth Capital M&A Deals 1 of 2
Country: India M&A 3 of 6
Year: 2009 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Pipetel Communications Pvt.

New Delhi, India

Pipetel Communications is a leading Enterprise Access company providing broadband services to SMEs in India. The company has agreements with most of the major telecommunications companies in India and specializes in clients with multiple office locations who prefer a single point of contact nationwide. Customers include SMEs as well as some Indian Fortune 1000 companies. The company is based in Noida, Uttar Pradesh.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-12 Net4 India

New Delhi, India

Net4India is a provider of the data center, cloud hosting, and network services. The company’s services include domain name registration, web hosting, broadband access, hosted voice, network integration and applications over broadband, primarily to SMEs in India.

Buy -