Global investment firm Goldman Sachs Group Inc., will invest b$64 million in Amber Enterprises Pvt. Ltd, one of India’s largest original equipment manufacturers of consumer durables, reports Live Mint. Goldman plans to buy a 34% stake from existing investor Fairwinds PE, and 14-15% from promoters. The equity valuation of Amber stands at about $128 million.
Amber Enterprises owns nine factories that manufacture air conditioners, and microwaves, as also components for refrigerators and other consumer durables for companies such as LG Electronics India Pvt. Ltd, Panasonic Corp., Philips India Ltd, Whirlpool of India Ltd, Videocon Industries Ltd, Godrej Industries Ltd, Blue Star Ltd and Voltas Ltd.
“The per capital consumption of India is still low and hence, there is enough room for growth. The companies which are linked with India’s consumption-oriented story will have buyers. The business-to-consumer supplier firms always attract immediate attention from investors,” said S.V. Sukumar, partner and sector head (industrial manufacturing), KPMG India.
