Private equity firm Carlyle Group has acquired a significant minority stake in Faridabad-based DEE Piping Systems, a company fabrication of pressure piping systems. Financial details of the transactions were not disclosed.
Carlyle’s investment was through a mix of primary infusion in the company and purchase of secondary stake from other investors, it said in a statement.
“We are extremely happy to partner with Carlyle. We expect to leverage Carlyle’s international brand equity, global resources and strong sectoral expertise to further grow and diversify our business domestically as well as globally,” said DEE Piping Chairman and Managing Director KL Bansal.
The Carlyle Group has invested $1.3 billion in equity over more than 30 transactions in India as of June 30, 2015.