Argand Partners $250 million acquisition of Sigma Electric Manufacturing

20/10/2016
Public acquisition

$ 250 million

Announced

20/10/2016


Overview:

  • Argand Partners (Argand), a US mid-market private equity firm, had acquired 100% stake in Sigma Electric Manufacturing (Sigma Electric) and GSCP Sigma (Sigma) from Goldman Sachs Private Equity who held 90% stake and Sajjan Agarwal Family who held the remaining 10%.
  • The acquisition amount is not yet disclosed but according to the Economic Times, the sum could be around $250 million.
  • Goldman Sachs Capital Partners acquired 80% in Sigma in 2007 for $172 million.
  • This is Argand's first investment in the India market, and is said to be the second largest secondary buyout by a private equity fund in the manufacturing sector in recent years.
  • Sigma has nine facilities located in Pune and Jaipur  and manufactures castings in aluminium, aluminium-bronze, zinc, steel, iron and copper.
  • Argand is a spinoff from the US buyout firm, Castle Harlan. 
  • Sigma Electric is an engineering and electrical fittings company. Founded by Sajjan Agarwal in 1982, it caters to customers in the North American and European markets through exports from its Indian plants. 

Wai Yee Tsang - Journalist

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