The BTS India Private Equity fund, a Switzerland-India based PE fund, with a corpus of US$ 80 million dedicated for investment in medium sized enterprises today announced it has completed its first tranch of investment of Rs. 200 million (approximately USD 4.50) in Reliable Autotech Private Ltd (RAPL), an auto-component manufacturing company.
RAPL is an upcoming player in the fast growing auto component sector in India. F ounded in 1984, by three VJTI engineers, the company today has grown significantly over the years and now caters to a large clientele consisting of auto companies and Tier I manufacturers both in domestic markets and abroad. Mahindra & Mahindra, is one of the major customers of the company. The company also enjoys substantial presence in the international markets of Europe and US.
Commenting on the first investment, Mr. K. Srinivas, Managing Partner, BTS Investment Advisors said “The investment in RAPL is in line with BTS India's strategy of fast growing smaller companies which are looking for growth capital to further expand their operations to achieve economies of scale. RAPL enjoys an excellent track record and we are confident that the company would continue to post impressive results as auto component industry is set to emerge as a major industry in India “.
Welcoming the decision of BTS to invest in RAPL, Mr. Devendra Bapat, Director, said “RAPL is a professionally managed company and we are delighted to benefit from the vast experience of BTS investors at the global level. The company would deploy the funds to complete the proposed expansion scheme to cater to the growing demand from both domestic auto manufacturers as well as booming international demand”.
The company specializes both in the manufacturing of large and small automobile body parts as well as other products like mounting brackets, pedal assemblies, axle assemblies, chassis assemblies, steering rod assemblies etc. The core strength of the company is its ability to design new products for its clients, design and manufacture the small / large dies and tools required for the manufacturing process, and then offer manufacturing capabilities in larger volumes. The company has large manufacturing facilities in Nashik. It has 30 engineers dedicated to product and tools / dies designing for its clients. RAPL is QS 9001 and TS 16949 certified by TUV, Germany, and will soon be certified for EN 14000 and OHSAS systems by TUV.
BTS India Private Equity Fund has reputed multilateral institutions as its sponsors such as ADB, SIFEM, BIO and Taiwan – ICDF amongst others. The fund is a long-term investor in India and partners with its portfolio companies over a span of 4 – 7 years, before exiting.
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About BTS
BTS Investment Advisors Ltd (BTS-IA) is the investment advisor of the fund. BTS-IA is a key financial service provider advising on investments into the Indian markets. BTS-IA has a demonstrated track record of investment advisory services, and is the investment advisor to Swiss Tech Fund. Swiss Tec is sponsored by the Swiss Government in 1997 for funding small and medium scale enterprises in India. BTS-IA is responsible for the building of Swiss Tec portfolio in India. BTS-IA has a dedicated and highly experienced private equity team in Mumbai. The team of five investment professionals based in Mumbai is supported by two investment professionals from Zurich office of BTS group that manages over $800 million in securities in India.
BTS India Private Equity Fund Limited (Offshore Fund) is a limited liability company domiciled in Mauritius offering a tax efficient structure for international investors . The Offshore Fund to invest in an Indian Fund, which extends the investment opportunity to Indian investors. Both the Funds are registered with Securities and Exchange Board of India.
Source : Indiaprwire