Global investor Warburg Pincus acquired a majority equity stake in Ebco Private, one of the key Indian players in the furniture fittings and architectural hardware segment.
The valuation of the company was not disclosed. The promoters will retain a significant minority stake in Ebco and will be actively involved in the future growth of the business.
Founded in 1963, Ebco is one of Indiaโs oldest and most prominent furniture fittings and architectural hardware brands, said a company statement.
โWe believe that the Indian furniture fittings and architectural hardware industry is poised for significant growth over the next several years, underpinned by tailwinds from favourable demographics fuelling real estate demand, rising furniture modularisation, and increasing home renovations,” said Anish Saraf, Managing Director, Warburg Pincus India.
Source: business-standard.com
