The investment will be utilised for meeting the capital expenditure requirements for expansion of new capacities, marketing and business development and long term working capital requirements of the Company, said a press release.
Caparo Financial Solutions, the financial services arm of the UK-based Caparo Group, advised Safex Chemicals on the transaction.
Safex Chemicals, promoted by S K Chaudhary, Neeraj Jindal, Rajesh Jindal and Piyush Jindal, is engaged in manufacturing and distribution of agrochemical formulations, with its focus in Northern India. The company has built a network of more than 6,000 dealers across India, and has a leadership position in Punjab and Northern UP. It has recorded a compounded annual growth rate of more than 40 per cent over the last five years, said a company announcement.
BanyanTree has invested in 19 companies from two of its funds, including in companies like Rotomag Motors and Controls, an electric motor manufacturer; GPT Healthcare, a chain of hospitals; packaged food firm Nilon's; coaching services provider MT Educare; renewable power firm Atria and others.