Calibre, a speciality ingredients player focussed on pharma, nutrition and personal care segments
Singapore-headquartered, India-focussed private equity firm Everstone Capital has acquired a controlling stake in Calibre, a speciality ingredients player focussed on pharma, nutrition and personal care segments, in a reported Rs 1,000-crore deal. Mumbai-headquartered Calibre, founded in 1984 by Ranjit Bhavnani in Gujarat, is a leading speciality ingredients player in the iodine derivatives, persulfates and perchlorates segments. Though the companies did not disclose the deal value, a market source told PTI that the transaction is valued at around Rs 1,000 crore.
Calibre boasts of a customer base across 75 countries including the US, and those in Europe, Asia and exports contribute around two-thirds of its revenue, Everstone said in a statement, adding it has modern state manufacturing facilities at Sarigam in Gujarat. While JM Financial advised Calibre, Everstone was advised by Alantra.
Sameer Sain, co-founder and chief executive of the Everstone Group said Calibre is high quality and globally established player with significant untapped potential and combining the founder’s entrepreneurial skills Everstone’s operational expertise can help Calibre excel, innovate and scale.
Ranjit Bhavnani, the Founder-Chairman, Calibre said this deal marks the transformation of Calibre from a family-owned to a professional one where we will continue to participate actively. Everstone is one of the largest India and Southeast Asia-focussed investors and its portfolio of companies include one of the largest nutraceutical ingredients businesses OmniActive, generic and speciality pharma maker Slayback Pharma and domestic pharma distribution platform Ascent Health amongst others.
Last year, Everstone exited from Rubicon Research generating returns of 4.5 times its investment. The Everstone Group has assets of over $5 billion across private equity, real estate, infrastructure, and venture capital and its resource base spans New York, India, Singapore, London, and Mauritius.
PTI
