Actis PE To Acquire General Lighting Business Of Halonix
Actis PE is acquiring the general lighting business unit of 
Halonix Limited. Halonix is in the process of hiving off the general lighting business into a separate entity - Halonix Technologies, which will be acquired by Actis PE.
Post sale, Halonix will be left with automotive lighting business.
Halonix has hired PWC and SSPA & Co Chartered Accountants to conduct the valuation of the general lighting business.
Transaction Reference: ET
Actis PE had acquired 66% in Halonix in 2007 through Actis India Fund. First, in May'06, Actis bought out promoter B.K Gupta's 47% stake in the company for Rs 190 per share. This was followed by the mandatory open offer, leading to Actis gaining full control of the company by March'07.
Halonix, formerly known as Phoenix Lamps Ltd was incorporated in 1991, by B.K Gupta in technical collaboration with Phoenix Electric Co. & Soei Tsusho Co. (Both Japanese), with investment from Pradeshiya Industrial Investment Corporation of UP.
The general lighting business, which is being sold to Actis, has three plants spread across Noida, Dehradun and Haridwar employing 1,350 people. For the year ended March'09, automotive lamps constituted 42% of the total revenue of Rs 402 Cr and the balance 58% sales came from general lighting lamps.
Havells India, another player in this domain, acquired Standard Electricals Limited for Rs 120 Cr.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 22/07/10 | Halonix Tech - Actis PE | Private Equity | Actis India Fund 2 LP | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 07/02/12 | M&A | Piramal Healthcare Limited | Looking For | - | Planned |
| 07/02/12 | Private Equity | IDFC Private Equity | Regen Powertech Private Limited | 20.39 | Announced |
| 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 |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Actis India Fund 2 LP | 325 | BFSI Consumer Goods Pharma IT/ITES/Technology Auto |
www.act.is | |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Halonix Limited | Argon India Limited | 59 - A Noida Special Econimic Zone Phase 2 Gautam Budh Nagar | www.halonix.co.in | |
| Halonix Technologies | ||||
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