PE fund Warburg Pincus has acquired a majority stake in Ebco Private Limited, the leading Indian player in the furniture fittings and architectural hardware segment, company said. According to sources, the deal has valued Ebco at Rs3000-3200 crore. 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 India’s oldest furniture fittings and architectural hardware brands. Based in Mumbai, the Company offers a wide range of products across categories spanning bed and wardrobe fittings, kitchen systems and accessories, office furniture fittings, window and door hardware, and furniture lights, said. Avendus Capital was the exclusive financial advisor to Ebco. Geoffrey Nagpal, Managing Director, Ebco said, “The Company is at an exciting phase of growth, and we are thrilled to partner with Warburg Pincus at this stage. This partnership will enable the Company to capitalize on the strong industry growth prospects and deepen its presence in every part of the country.” “We 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 modularization, and increasing home renovations,” said Anish Saraf, Managing Director, Warburg Pincus India. Courtesy: https://www.rprealtyplus.com/realty-spotlight/warburg-pincus-acquires-majority-stake-in-ebco-116401.html