The Hindu Business Line : Actis plans to focus on buyouts this year too

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New Delhi March 5 Actis, the private equity firm that led the buyout space in India last year, is planning to continue on the same theme this year with its soon-to-be-raised fund.

"We will continue on the buyout theme in the current year as well. We are keen to work together with the management of companies," said Mr Donald Peck, Managing Partner.

Management buyouts by Actis in the last year included retail chain Nilgiris, Phoenix Lamps and Paras Pharma.

Further, Actis, which has been investing in India through two separate funds estimated at $475 million, is planning to raise a new fund this year.

It would be substantially larger than the previous one, and in conjunction with its soon-to-be-raised $300-million realty fund, will take the total quantum of funds allocated for India by the private equity firm in the vicinity of a billion dollars.

Actis will also be exploring a new theme this year and is planning a string of acquisitions through firms it has invested in till now.

"Overseas acquisition will be a huge theme for us. We are looking to help globalise Indian businesses, particularly firms operating in the IT and auto components sphere," Mr Peck said.

He added that the firm was looking at a couple of acquisition targets each for auto components firms it has invested in, which include Phoenix Lamps, Sandhar Locks and Avtec (a venture with Hindustan Motors).

The target companies are based in markets in the West.

The acquisition theme would be visible on the domestic front as well. The private equity firm is on the lookout for acquisition targets in the FMCG domain through Nilgiris.

"We are looking to expand Nilgiris and may acquire FMCG brands in the South for the same."

The firm has drawn out aggressive expansion plans for Nilgiris entailing Rs 120 crore of investments to expand the store network to 500 from 40 currently by 2010.

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