Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Industry News

| More

Lighthouse invests 160 Crore in mattress company Duroflex

Posted On: 2018-10-31 09:16:15


Lighthouse Fund, India's leading consumer-focused private equity fund, has invested INR 160 crore (USD 22 million) in Duroflex Private Limited, a dominant mattress player in South India. The Company has five manufacturing facilities located in Tamil Nadu, Telangana and Kerala which manufacture a wide range of mattresses and PU foam products. The Duroflex brand is well known for providing innovative and good quality products. The Company offers a wide array of products under sub-brands such as Energise, Duropedic and Natural Living addressing the needs of specific consumer groups. The Company has a robust distribution network across South India, selling at more than 3,000 retail outlets, and is in the process of expanding its footprint in West and East India. The Company is expecting a turnover of over 450 crores in the current financial year.

The Company plans to utilize the money raised from Lighthouse to fund its expansion plans. The Company also plans to add over 500 exclusive business outlets (EBOs) in the near future. ICICI Securities acted as the sole financial advisor to the Company for the fund raise.

Commenting on the Lighthouse investment into the Company, Mr. Mathew Chandy, Managing Director of the Company said "We are very excited to have Lighthouse as partner in our growth journey given their impressive track record of investments in over twenty-five brands. We look forward to their support and guidance as we expand into new markets and try new business strategies. We have been able to build a strong brand in South India on the back of consistent quality and would want to multiply efforts to replicate similar success in our new markets."

Mr. Sachin Bhartiya, Partner at Lighthouse, added, "We are pleased to become a partner in Duroflex and help them in their journey as they grow to the next level. We really appreciate various initiatives undertaken by the management to increase the market share led by product innovations and new launches over the last few years. We are very excited by the growth opportunity ahead of the Company."

Lighthouse is a leading mid-market private equity firm focused on growth investments in India's consumer sector. The firm's current and past investments include Nykaa.com, Bikaji Foods, FabIndia, Cera Sanitaryware, Capital Trust, Tynor Orthotics, Suraksha Diagnostic, Dhanuka Agritech, Indian Herbs, Kama Ayurveda, Unibic Foods, V2 Retail and XSEED Education. For more information, please visit www.lhfunds.com


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Tata Housing launches 'The Grand Indian Home Festival'

LANXESS increases prices for engineering plastics

AMP Capital establishes energy transmission platform in India with Sterlite Power

First-of-its-kind cradle that enables babies to have uninterrupted sleep

NASSCOM and BIRAC launches 'JAN-Care', a Nationwide Challenge to Scale Healthtech Innovation

LANXESS increases prices for 1,6-hexanediol

Fincare Small Finance Bank partners with Go Digit Insurance

Fincare Small Finance Bank signs a MoU with National Housing Bank for PMAY

S. P. Retail Brands Ltd. acquires UK based Kidswear brand Angel & Rocket

ESAF Small Finance Bank net profit grows by 41.09%

SIDBI's Standup Mitra Portal set up under GOI's Stand-Up India scheme reaches over 96,000 loan sanctions

Shriram General Insurance to strengthen business using Digital channels

Bharti AXA Life Insurance launches Bharti AXA Life Wealth Pro

SIDBI and CRIF India collaborate to introduce sector-based insight reports 'Industry Spotlight'

SIDBI joins hands with Government of Gujarat for the Development of MSME ecosystem in the State

FAITH asks Anti-competitive travel tax TCS to be withdrawn

ESAF Small Finance Bank Announces Fintech Conclave 2020

Micro ATM is a game changer in India - Says RapiPay

ClearTax amongst 20 Indian startups in CB Insights' World's Most Promising Fintech list

Liberty General Insurance Receives INR 100 Crore Capital Infusion from Promoter Group

SIDBI and TransUnion CIBIL launch MSMESaksham

Tata AIA appoints Naveen Tahilyani as Chief Executive officer and MD

Sharekhan just went Bollywood ! Launches MoneyFLIX, World's First Financial Movies Platform

Angel Broking becomes 4th largest brokerage house in the country based on active clients at the NSE

IL&FS board upgrades estimates of debt addressed to over Rs. 57,000 crore

Upstox Registers 1 Million Customers; Aims to Double by December 2020

Reliance Securities launches new referral programme to provide enhanced digital experience to customers

RankMF Launches India's First Mutual fund Portfolio Sanitization Tool: SmartSwitch

Blue Ashva Capital announces initial close of SME focused India Fund

Convergent Finance LLP announces USD14.1 mn investment in Jyoti International Foods

Angel Broking records highest monthly client addition of 1Lakh +

Universal Sompo General Insurance Company Limited has announced the appointment of Sharad Mathur as its Managing Director & CEO

Sonalika Tractors Records 18.6% Overall Sales Growth in May'20

Upstox revamps its trading platform; introduces Pro Web 3.0

SATYA MicroCapital Ltd. gets MFI Grading uplift from ICRA

Indian Space Technology Startup VestaSpace Technology Receives USD 10 million Funding from US-based Next Capital LLC

ICAI Stands with Government to fight against COVID 19

Honda 2Wheelers India pledges support to its dealer family to maintain business continuity

Moneycontrol Pro reaches a new milestone - 1.5 lakh paying subscribers

Former Executive Director, RBI - Mrs. Surekha Marandi joins SATYA MicroCapital Limited as Independent Director

Arcil commits Rs. 1.5 Crore towards India's fight against COVID-19

Cognizant to acquire Lev to expand Digital Marketing expertise

Hon'ble Finance Minister reaches out to CAs for promoting Vivad se Vishwas scheme

SIAM numbers - Suman Chowdhury, President - Ratings at Acuité Ratings & Research Ltd

Sterlite Power Concludes Sale of Novo Estado

mastertrust Slashes its Trading Fees to Zero, on the MobileApp, for Millennial

CAMS FinServ receives RBI license for Account Aggregator service

Brookfield Properties bags four awards at the ET Now Global Real Estate Congress Awards 2020!

RXIL Digitizes its MSME Onboarding using Jocata GRID

Indian Exhibition of Air Conditioning Industry Draws International Attention



Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020