Caparo Financial Solutions, the financial services arm of the UK-based Caparo Group, advised Safex Chemicals on the transaction.
"Safex Chemicals has raised Rs 60 crore (USD 9 million) in funding from BanyanTree Growth Capital II LLC, a private equity fund focussed on providing growth capital to SMEs in India," the company said in a statement.
The investment will be used for meeting capital expenditure requirements of the company towards expansion of new capacities, marketing and business development and long-term working capital needs, said Shaila, Director, Caparo Financial.
The company produces and distributes pesticides and agro-chemicals under its own brand name, Safex.
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Its product range includes insecticides, herbicides, fungicides, plant growth promoters/regulators, micro-nutrient fertilisers and organic products with its manufacturing facilities in Bahadurgarh (Haryana) and Udhampur (Jammu & Kashmir).
It has built a network of more than 6,000 dealers across India and has a leadership position in Punjab and Northern UP. The company has grown at a CAGR of more than 40 per cent over the last five years.