GEI Industrial Systems has received approximately Rs 10.9 crore private equity investment from Banyan Tree Growth Capital L.L.C.

The board of GEI Industrial allotted 14.5 lakh equity shares of Rs 10 each at Rs 75 a share to Banyan Tree Growth Capital on preferential allotment basis.

GEI's FY09 revenues stood at Rs 13 crore, as compared to Rs 186 crore a year earlier. The net profit for FY09 stood at Rs 10.3 crore, as compared to Rs 9.2 crore in FY08. GEI stockwas up by more than 10% touching a high of Rs 71.5 per share before settling down at around Rs.68.

Bhopal based GEI Industrial was founded by Mr.C.E Fernandes in the year 1970, specialises in the manufacture of a range of air-cooled heat exchangers and steam condensers for oil and refinery, power and gas compression businesses.

Banyan Tree Growth Capital is a USD 125 million Mauritius based Mezannine fund focused on attractive Indian companies with strong leadership. FMO and DEG (both Dutch Banks) are the investors in the fund.

Mumbai based Singhi Advisors were the sole financial advisors to GEI Industrial Systems in the deal.

In the recent past, Banyan Tree Capital along with FMO picked up 7.6 % stake in Kalpena Industries, a manufacutrer of PVC compounds for Rs.9.21 crores through compulsory convertible debentures.
Kalpena Industries was established in 1994 and is headed by Mr.Sushil k. Verma.

The two funds invested $7.5 million through convertible bonds and $6.35 million through $6.35 through secured loans in Axiom Impex imited a rope manufacturer. It also picked up 10% stake in Trimax IT Infrastructure for an undisclosed sum.Trimax provides managed services and tech support
services across 40 locations throughout the country.

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KVEZAR VIEW

  DEAL TRACKER FOR

Date	Transaction	Type	Buyer	Size ($mn)
31/01/11	GEI Industrial - Aditya Birla PE, Banyantree	Private Equity	BanyanTree Growth Capital	13.90
20/08/09	GEI Industrial - BanyanTree Growth Capital	Private Equity	BanyanTree Growth Capital	2.23

 

  Recent Transactions In The Sector

Date	Type	Buyer	Target	Size ($mn)	State
07/02/12	Private Equity	IDFC Private Equity	Regen Powertech Private Limited	20.39	Announced
07/02/12	M&A	Piramal Healthcare Limited	Looking For	-	Planned
03/02/12	M&A	ThyssenKrupp Elevator India Private Limited	Eros Elevators & Escalators Private Limited	-	Completed
31/01/12	M&A	Inox India Limited	Looking For	20.00	Planned

 

  Profiles

Fund
Name	Corpus	Target Sector	Website	KeyContact
BanyanTree Growth Capital	100	Sector Agnostic Basic Industries IT/ITES/Technology	www.banyantreefinance.com/	Sanjiv SinghalNaval TotlaArvind JainMitin JainAshish Agarwal

Company
Name	Promoters	Office	Competitor	Website
GEI Industrial Systems Limited	Carnet Elias Fernandes	26/A, Industrial Area, Govindpura	Innovateminds Software Solutions Private Limited Axis IT&T Limited Neilsoft Limited	www.geiind.com

  Advisor

Singhi Advisors

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