ADV Partners, Premji Invest Buys Major Stake in Micro Plastics

Private equity firm ADV Partners and announced that they have acquired a significant majority stake in plastic moulding firm Micro Plastics Pvt. Ltd (MPPL).

MPPL provides an integrated solution for its customers, from designing to distribution final products for diverse industries varying from toys and model hobby kits to sports equipment. The company offers a diverse range of industries, including toys, sports equipment, consumer goods, auto, power tools, healthcare, electronics, furniture, and home appliances.

In a statement, the investors says, “This investment will catalyze the next stage of MPPL’s growth plans by supporting significant expansion and development of new manufacturing facilities to cater to increasing demand from customers. The investment also builds on MPPL’s success and robust revenue growth of over 20 percent over the past five years in CAGR terms."

Financial details of the transaction were not disclosed. However, a person aware of the development told Mint that the two investors are investing close to $70 million for the acquisition.

MPPL is headquartered in Bengaluru and functions across five manufacturing facilities in and around the city. MPPL founder and managing director, Vijendra Babu, would continue to retain a stake in the business and drive the company along with a very experienced senior leadership team.

Vijendra states, “The toy sector in India holds a lot of potential both on the export and domestic fronts. MPPL has emerged as a key Indian contract manufacturer for leading global brands, and we look to build these relationships further. We also look forward to broadening our footprint in consumer goods, healthcare, and sports, among other sectors."

Read More News :

Raising $188 Mn, Urban Company Enters Unicorn Club

Apple captures 48% share in India premium phone market in Q1