ADV Partners, Premji invest to acquire majority stake in Micro Plastics

Investment builds on MPPL's robust revenue growth of over 20% CAGR over past five years

Asian private equity firm ADV Partners and Premji Invest, the investment arm of Wipro billionaire Azim Premji, said they have acquired a significant majority stake in leading plastic molding company Micro Plastics Private Limited (MPPL).

This investment will catalyse the next stage of MPPL’s growth plans by supporting significant expansion and development of new manufacturing facilities to cater to increasing demand from customers. The investment also builds on MPPL’s success and robust revenue growth of over 20 per cent over the past five years in CAGR terms.

MPPL is headquartered in Bengaluru and operates five manufacturing facilities in and around the city. MPPL founder and managing director, Vijendra Babu, a 25-year industry veteran, will continue to retain a stake in the business and drive the company along with a very experienced senior leadership team.

MPPL said it is placed to play a leading role in India’s development as a hub for such manufacturing, catering to both domestic and export markets for large multinational clients.

“We are very excited to bring ADV and Premji Invest onboard as our investors to chart MPPL’s next phase of growth,” said Babu. “The toy sector in India holds a lot of potential both on the export and domestic fronts.”

Babu said MPPL has emerged as a key Indian contract manufacturer for leading global brands, and we look to build these relationships further. The firm is looking forward to broadening its footprint in sectors such as consumer goods, healthcare, and sports.

“The market opportunities for Micro Plastics are significant and, together with Premji Invest, ADV Partners looks forward to working with Babu to significantly grow the business as well as to help build the toy manufacturing ecosystem within India, through skill development and other initiatives,” said Suresh Prabhala, co-founder and managing partner at ADV Partners. “ADV Partners’ investment in Micro Plastics is a continuation of our efforts to back Indian entrepreneurs who have established market leadership in specific manufacturing segments in India.”

A Premji Invest spokesperson said Premji Invest is excited to partner with ADV Partners and the MPPL team to build out a globally competitive business of manufacturing toys and plastic components for other industries.

MPPL offers an integrated one-stop solution for its customers, from designing to shipping final products for diverse industries ranging from toys and model hobby kits to sports equipment. With the support of the central government and state governments, through the respective introductions of toy clusters and the Bureau of Indian Standards (BIS) certification for toys, the toy manufacturing ecosystem in India is primed to grow and well-positioned to benefit from strong tailwinds in the near future.