BanyanTree invests $15 million in DFL

BanyanTree Growth Capital LLC has invested  $15 million in Deepak Fasteners Limited (DFL), for an undisclosed minority stake. The deal marks BanyanTree's fifth investment in India and its first in the current year.

Mumbai-based Ladderup Corporate Advisory Private Limited was the advisor to the transaction.

DFL a Ludhiana based company promoted by the Kalra family, is one of the leading manufacturers of specialty industrial fasteners used in hostile environments. In 2008, DFL acquired the worldwide rights of the Unbrako brand from SPS Technologies, a subsidiary of PCC group of USA, along with a manufacturing facility in Shannon, Ireland. In India, DFL has three manufacturing facilities across Punjab and Himachal Pradesh.

Sanjeev Kalra, MD of DFL said that the BanyanTree investment will help DFL to increase manufacturing capacities and help it enter new markets and further capitalize upon the opportunity to combine a world renowned brand with India’s low cost manufacturing base. DFL envisages a further investment of over Rs 250 crore during the next year.