Global private equity major Carlyle Group today said it has invested an undisclosed sum to pick up a significant minority stake in Faridabad-based DEE Piping Systems.
The target company is engaged in design, detailed engineering and fabrication of high-quality pressure piping systems to clients across diversified industries such as power, process and oil and gas, a statement from the private equity fund said.
The investment has been made by First Carlyle Ventures III, whose affiliate is advised by Carlyle Group, it said, adding that it involves a mix of primary infusion in the company and purchase of secondary stake from other investors.
"DEE Piping has built an extremely successful business with strong capabilities across multiple dimensions," managing director and co-head of the Carlyle Asia Growth Capital, Shankar Narayanan, said in the statement.
The company's founder, chairman and managing director, K L Bansal said he expects to leverage on Carlyle's international brand equity and sectoral expertise to further grow and diversify business both domestically and globally.
Carlyle Group has invested USD 1.3 billion in more than 30 transactions in the country.
